In addition to Volvo, these international brands are also in the bag of Chinese companies!
In recent years, the rise of China's auto industry has been unstoppable, not only has the domestic market share continued to grow, but also a number of ambitious Chinese companies have gone abroad to include internationally renowned car brands. Today, let's take stock of the stories and influences behind the acquisitions and mergers of international auto brands that have been acquired by Chinese companies.
First and foremost, of course, is Volvo. In 2010, China's Geely Automobile Group acquired 100% of Volvo's car business and related assets from Ford Motor for a sky-high price of US$1.8 billion. This transaction not only shocked the international automotive community, but also marked the beginning of a major role for Chinese auto companies on the global stage. After Geely acquired Volvo, it not only retained Volvo's headquarters and R&D team in Sweden, but also injected a large amount of capital and technical support, so that Volvo achieved a full revival in just a few years.
It was followed by MG. The MG brand originated in the United Kingdom and has a long history of manufacturing racing and sports cars. In 2007, Nanjing Automobile Group successfully acquired the MG brand and its related technologies, and launched a number of models that are deeply loved by consumers. Later, Nanjing Automobile Group was acquired by SAIC, so MG is now under SAIC.
Borgward is also one of the well-known brands that has been acquired by Chinese companies in recent years. Borgward was originally a German car brand, but it was in trouble due to poor management. In 2014, China's Beiqi Foton Motor Co., Ltd. invested in the acquisition of Borgward's global assets and planned to build it into a high-end car brand. With the support of Beiqi Foton, Borgward quickly resumed production and launched a number of new models, regaining market attention.
Although Roewe Automobile was not acquired, the story behind it is also worth mentioning. Roewe is an independent brand under SAIC Motor Group, but its R&D and design team includes many elites from the British Rover Motors. Rover Motors was once a well-known British car manufacturer, with a glorious history and rich technical accumulation. After acquiring some of Rover's technologies, SAIC Motor established the Roewe brand, aiming to create high-quality, high-tech domestic automobiles.
Saab, a Swedish premium car brand, was also in trouble until it was acquired by China's Beijing Automotive Group. BAIC Group acquired Saab Automobile's core assets, including its intellectual property rights and production lines, and launched a number of new models based on them. Although the Saab brand ultimately failed to regain its glory in the Chinese market, BAIC Group has accumulated rich international automobile manufacturing experience and technology through this acquisition.
Proton Motors is a national treasure car brand in Malaysia, but it has gradually lost its advantage in the market competition. In 2017, China's Zhejiang Geely Holding Group acquired Proton Motors 499% of the shares, becoming its largest shareholder. Geely Group has injected new capital and technical support into Proton Motors to help them improve product quality and market competitiveness.
The name Manganese Copper England may be a little unfamiliar, but it was once a famous taxi manufacturer in the UK. In 2013, China's Geely Automobile Group acquired the main assets and intellectual property of Manganese Copper Yinglun, with plans to build it into a high-end commercial vehicle brand. However, due to market changes and strategic adjustments, Manganese Copper England ultimately failed to make a breakthrough in the Chinese market.
These acquisitions not only demonstrate the strength and ambition of Chinese auto companies, but also lay a solid foundation for the international development of China's auto industry. Through the acquisition of internationally renowned brands, Chinese auto companies can quickly acquire advanced technology and management experience to enhance their competitiveness. At the same time, these acquisitions also open the door to the international market for Chinese auto companies, paving the way for future global development.