In the process of the development of the domestic automobile industry, some state-owned automobile companies have made a lot of money in the technology and brands of foreign investors. They lack the motivation to independently develop and have even become OEM factories of multinational companies. They start earlier and have a higher starting point. They hold good cards in their hands but play badly. Among them, Fuqi Group is definitely a typical representative.
When it comes to Fuqi Group, many people may not be familiar with it, but you will know about a few car brands. Fujian Mercedes-Benz , Southeast Auto , Jinlong Auto , and Yundu Auto are all brands under Fuqi Group, but their development is not satisfactory.
Southeast Auto was once the most valuable asset of Fuqi Group. In the 1990s, Mitsubishi Automobile was at its peak, and Fuqi Group was the first partner of Mitsubishi Motors after entering China.
However, Mitsubishi Motors has gradually become dissatisfied with its shareholding ratio of only 25%. It has not entered a new model for Southeast Auto for 2 years, which directly led to a fault in the Southeast Auto product line. Former chairman of Southeast Auto Lian Xiaoqiang once said that Mitsubishi Motors' investment has only 25% return and is unwilling to expand its production capacity. Mitsubishi Motors once said directly that Mitsubishi will not introduce any new models until Southeast Auto's equity cannot reach 50%.
In 2012, Mitsubishi signed a joint venture agreement with GAC, and both parties each held 50% of the shares to establish GAC Mitsubishi Company. Mitsubishi Motors had a new love, and Southeast Auto became an abandoned old love. However, from the perspective of Mitsubishi Motors, this decision is fully understandable. Among GAC Mitsubishi, Mitsubishi Motors' shares accounted for a higher proportion and made greater returns. Moreover, GAC is more than one piece better than FUX in terms of technical strength, product quality control, publicity and marketing capabilities, and resource background. According to Tianyancha data, Mitsubishi Motors has withdrawn from Southeast Automobile Co., Ltd., and this partner who has been together for more than 20 years has completely parted ways. After lacking the technical support of Mitsubishi Motors, Southeast Auto's sales have declined year by year due to lack of independent R&D capabilities. From 2010 to 2020, Southeast Auto lost NT$4.917 billion NT$ (about 1.134 billion yuan). Today, Southeast Auto has been completely marginalized.
Another valuable asset under Fuqi Group is Fujian Mercedes-Benz.
In 2007, Fuqihe and Daimler each invested 50% to establish Fujian Mercedes-Benz, focusing on Mercedes-Benz business car , and currently have models such as Vito , Viagra and Singt . However, since the establishment of Fujian Mercedes-Benz in 2007, the shadow of "loss" has lingered. It was not until the end of 2013 that it achieved profitability for the first time with annual sales of 12,000 vehicles. In 2015, Fujian Mercedes-Benz's annual sales volume was only 5,000 vehicles, and Fuqi was overwhelmed. In 2016, Fuqi sold 35% of Fujian Mercedes-Benz's equity to BAIC. BAIC relied on the North-South Mercedes-Benz to realize the idea of "Big Mercedes-Benz", but Fuqi lost one more good brand.
Fuqi has not saved itself, but due to its technical strength, it has been defeated repeatedly.
In 1997, Fuqi built the new Longma Automobile, which focuses on agricultural vehicle business. In 2011, it transformed into a passenger car, but due to the lack of technical accumulation, Xinlongma Automobile has no sense of existence in the domestic automobile market. Many people have never heard of this brand. Currently, the new Longma Automobile only has the Qiteng series models on sale, and they are all micro-face or oil-to-electric models. In 2021, the cumulative sales are only 6,712 units.
At the end of 2015, Yundu New Energy was established, and it is one of the first new car companies to enter the new energy track, and it has dual qualifications. Yundu Auto completed the "R&D, delivery, and after-sales" process before "Wei Xiaoli" was mass-produced.In 2018, Yundu Auto ushered in a "highlight moment", completing sales of 9,300 new cars throughout the year, second only to the NIO with a delivery volume of about 11,300 vehicles, ranking second among the new car-making forces. However, Yundu Auto's development has stagnated and sales have been declining continuously. Now, Yundu Auto has been shut down and is rumored to have sold itself to Junyao Group .
Review of the ups and downs of Fuqi, he once held joint venture brands such as Mitsubishi and Mercedes-Benz, and was once very glorious, but he has been dependent on others for a long time and has never embarked on the road of independent research and development. In the end, he was gradually eliminated in the cruel market competition.
Look at the domestic state-owned car-making enterprises, how many of them are like Fuqi, who are lying in the gentle village of joint ventures and are not enterprising. The reason why these state-owned enterprises are slightly better than Fuqi recently is not because they are so strong in independent research and development, but because they are more lucky. As the competition in the domestic auto market becomes increasingly fierce, who can guarantee that they will not follow in Fuqi's footsteps?
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