What are the major events happening in the automotive industry at home and abroad this week?
The 2025 Global Top 100 Auto Parts Suppliers list has been released
A few days ago, Automotive News released the “2025 Global Top 100 Auto Parts Suppliers List”, which is mainly ranked according to the operating income (sales) of the automotive industry supporting market business in the previous year provided by suppliers.
According to the list data, as the global auto parts industry enters a “period of stagnation and transformation”, 60% of the sales of parts suppliers in 2024 will decline year-on-year, making the total global sales of this year’s suppliers on the list decrease by 7% year-on-year in 2023.
In 2023, there were 5 suppliers with revenue of more than $40 billion in the automotive business, compared to only 3 in 2024. thereintoBoschFor the 14th consecutive year, the automotive business unit will reach $54.37 billion in revenue in 2024, Denso will rank second with $47.9 billion in sales, and Magna will rank third with $42.836 billion in sales.
It is worth noting that unlike the general decline in industry sales, the revenue of most Chinese suppliers rose against the trend.
This year, a total of 15 Chinese auto parts companies are on the list, namely CATL (5th),Yanfeng(17th), Joyson Electronics (37), CITIC Dicastal (42), Desay SV (58), Ningbo Tuopu (60), Ningbo Huaxiang Electronics (61), Honeycomb Automotive Technology Group (64), Guoxuan Hi-Tech (67), Minshi Group (70), Johnson Electric (73), Seiko Automobile (77), Noble Automotive Systems (78), CTCI Group (87) and Zhejiang Wanfeng Aowei Steam Turbine Co., Ltd. (90).
Among them, 10 Chinese companies will have varying degrees of year-on-year sales increase in 2024, with Desay SV and Ningbo Tuopu being the most significant, with sales increases of 25% and 33% respectively; In addition, Ningbo Huaxiang Electronics, Guoxuan Hi-Tech, Minshi Group, and Seiko Automobile also rose by more than 10%.
This year, two new companies in China are on the list, namely Honeycomb Automotive Technology Group (64) and Zhejiang Wanfeng Aowei Steam Turbine Co., Ltd. (90).
Gaishi Comment:During the critical period of deep restructuring and electrification transformation of the global automotive supply chain, Chinese companies have achieved a breakthrough against the trend by virtue of the advantages of the electrification supply chain and cost control capabilities.
Dongfeng Motor announced the establishment of a new company
On June 26, Dongfeng Motor announced the establishment of Yipai Automotive Technology Co., Ltd. (hereinafter referred to as Yipai Automobile). This move aims to promote the development of Dongfeng Motor’s independent passenger car business at full speed by focusing on integrating high-quality resources in the whole value chain such as business and enterprise, R&D, production, supply chain, sales and service.
Dongfeng Motor said that in the face of the wave of electrification and intelligent transformation of the automotive industry, it will gather brand resources to meet market challenges. The establishment of the new company is an important measure for Dongfeng Motor to promote the further development of the independent passenger car business.
Image source: Dongfeng Motor
As an important layout of Dongfeng Motor in the field of independent passenger cars, Yipai Automobile will rely on Dongfeng Motor’s brand strength, technology accumulation and industrial chain layout to promote the continuous optimization of brands and channels, provide high-quality products and services with user-centricity, and accelerate the pace of transformation and upgrading with flexible operating mechanisms and resource advantages of the whole value chain.
Gaishi Comment:Dongfeng Motor’s move is intended to break the internal friction of resources under the original decentralized system and improve overall efficiency and market competitiveness through a centralized and collaborative management mechanism.
Intel plans to gradually scale back its automotive business and lay off employees
According to foreign media reports, Intel plans to make major adjustments to its automotive architecture business and start layoffs in relevant departments. This move is an important part of the company’s overall restructuring plan.
Image source: Intel
Oregonian/Oregon Live was the first to report on the news. The media quoted Intel’s internal documents released to employees on the morning of June 24 as saying that the company will gradually reduce its automotive business. Intel later confirmed to technology media TechCrunch that the company had communicated internally about the plan on June 24.
Intel spokesman Cory Pforzheimer said: “As we said before, we will refocus on our core customers and data center business to strengthen our product offerings and meet customer needs. As part of this effort, we have decided to phase down the automotive business in the Customer Computing business group. We are committed to ensuring a smooth transition for our clients. At the same time, Cory Pforzheimer noted that the company does not disclose the number of affected employees by specific region or business unit.
Gaishi Comment:It is a pity to miss the wave of smart cars, butUnder the huge impact of technological generational changeIntel had to make a brutal strategic choice.
Garrett Wuhan Innovation Center was unveiled
On June 26, Garrett announced the official opening of its new innovation center in Wuhan, China. As Garrett’s second innovation center in China, the Wuhan Innovation Center and the existing Shanghai R&D Center form a “dual-engine” pattern to jointly drive the company’s innovation and development in the field of zero-emission technology.
Image credit: Garrett
With the automotive industryelectrificationAs the trend accelerates, Garrett is actively expanding its portfolio of zero-emission technologies. The unveiling of the Wuhan Innovation Center will focus on promoting the research and development of zero-emission systems. Currently, the center is in operation with an inverter test platform and plans to further expand its testing capabilities in the future to cover key technologies such as hydrogen fuel cell electric air compressors and electric cooling systems.
Gaishi Comment:Garrett’s China strategy has gone beyond simple market expansion, but has taken localized R&D as the fulcrum to build a “technology definition right”.
The name of “China Changan Automobile Group” was changed to “Chenzhi Automotive Technology Group”
On the evening of June 23, Changan Automobile announced that it had received a notice from the controlling shareholder, China Changan Automobile Group Co., Ltd., that its name was changed from “China Changan Automobile Group Co., Ltd.” to “Chenzhi Automotive Technology Group Co., Ltd.” (hereinafter referred to as “Chenzhi Automobile”), and the relevant industrial and commercial change registration procedures had been completed and a business license was obtained.
Image source: Changan Automobile announcement
According to public information, Chenzhi Automobile was established on December 26, 2005, the legal representative is Zhao Fei, with a registered capital of 6092.2734 million yuan, and its business scope covers the design, development, manufacturing, and sales of automobiles, motorcycles, automobile and motorcycle engines, and automobile and motorcycle parts.
Changan Automobile emphasized that the above-mentioned industrial and commercial changes do not involve changes in the number and shareholding ratio of the shareholder, do not affect corporate governance and production and operation activities, and will not lead to changes in the company’s controlling shareholder and actual controller.
This is a change caused by the restructuring of its indirect controlling shareholder, China Ordnance and Equipment Group Co., Ltd. On June 5, Changan Automobile announced that its indirect controlling shareholder, China Ordnance and Equipment Group, would be separated.
The automobile business of the Ordnance Equipment Group was separated into an independent central enterprise, and the State-owned Assets Supervision and Administration Commission of the State Council performed the duties of the investor; The State-owned Assets Supervision and Administration Commission of the State Council injected the equity of the separated Ordnance Equipment Group into China Ordnance Industry Group Co., Ltd. as a capital contribution in accordance with the procedures. After this split, the indirect controlling shareholder of Changan Automobile will be changed to a central enterprise with a separate automobile business, and the actual controller has not changed.
Dongfeng Group Co., Ltd. issued an announcement at the same time, and the company received a notice from Dongfeng Company, the indirect controlling shareholder, that Dongfeng Company will not be involved in relevant assets and business restructuring for the time being. This declares that Changan Dongfeng’s restructuring business will not be carried out for the time being.
Gaishi Comment:It should be pointed out that Changan Automobile has not changed its name, and Chenzhi Automotive Technology Group is not the name of a new central enterprise.
Cialis Automobile introduced a strategic investment of 5 billion yuan
On June 24, Cialis Group Co., Ltd. announced that it agreed that its holding subsidiary Cialis Automobile Co., Ltd. (hereinafter referred to as “Cialis Automobile”) would complete the introduction of strategic investors and jointly increase the capital of Cialis Automobile in monetary terms, with a total capital increase of no more than RMB 5 billion.
Image source: Screenshot of the announcement
It is reported that the strategic investors introduced this time include ICBC Financial Assets Investment Co., Ltd. and Bank of Communications Financial Assets Investment Co., Ltd., with investments ranging from 200 million yuan to 1 billion yuan respectively.
Previously, in December 2024, Cialis Automobile underwent industrial and commercial changes, adding the CDB Manufacturing Transformation and Upgrading Fund (Limited Partnership) (hereinafter referred to as the “CDB Manufacturing Fund”) as a shareholder, and the registered capital increased from 9.96 billion yuan to about 10.084 billion yuan.
This capital increase belongs to the same round of financing as the above-mentioned CDB Manufacturing Fund’s investment in Cialis Automobile. As of the disclosure date of this announcement, Cialis Automobile has completed the registration procedures for the change of registered capital for this capital increase.
Cialis Group Co., Ltd. said that this capital increase is conducive to enhancing the capital strength of Cialis Automobile, helping the strategic in-depth layout, reducing the asset-liability ratio, and promoting its sustainable and high-quality development, which is in line with the company’s development strategic planning and long-term interests, and in line with the interests of all shareholders of the company.
In addition, Cialis Group Co., Ltd. emphasized that after the completion of this capital increase, Cialis Automobile is still a holding subsidiary of the company, and the scope of the company’s consolidated statements has not changed due to this capital increase, which will not adversely affect the company’s production and operation, and there is no situation that harms the interests of the company and all shareholders.
Gaishi Comment:Introduced a number of heavyweight strategic investors, Cialis AutomobileNew energyThe territory is expected to continue to expand.
