Subaru and Toyota have long-term cooperation.
In 2005, the former General Motors Company dissolved its cooperation with Subaru and sold 9.5% of the company's shares to Toyota, and then Toyota continued to increase its holdings.
In 20 17, Toyota, Mazda and Denso announced the establishment of a new electric vehicle company. At the end of the year, to be exact, on February 30th, 20 17, Subaru, Suzuki, Daihatsu and Hino under Toyota officially joined the new electric vehicle company led by Toyota, in which Suzuki and Daihatsu focused on small cars and Subaru focused on Nakano.
In 20 19, Toyota plans to increase the capital of Subaru, and the shareholding ratio will increase from the current 16.5% to more than 20%. According to Subaru's market value at that time, Toyota's capital increase is estimated to need 70 billion yen (about 65 1 billion US dollars). In addition, Subaru will also invest the same amount to acquire Toyota shares, and the acquisition ratio is lower than 1%.
Therefore, Toyota's increase in Subaru this time is actually a continuation of 20 19 years of cooperation, or the result of 20 19 years of cooperation.
In fact, in addition to Subaru, Toyota has cross-shareholdings with many local car companies.
For example, Toyota owns about 5% of Mazda, and Mazda owns about 0.25% of Toyota. 20 18, "Mazda Toyota manufacturing company" was formally established in the United States, with both parties holding 50% shares. The new factory will first put into production Mazda crossover SUV and Toyota Corolla.
For example, Toyota formed an alliance with Suzuki on 20 19 to acquire 5% of Suzuki's shares, while Suzuki acquired 0.2% of Toyota's shares, and the two sides also formed a cross-shareholding situation. This kind of group cooperation is really worth learning from domestic car companies.
What will Subaru bring to Toyota?
According to the sales data of 20 19, the global sales of Toyota Group (including Toyota, Lexus, Daihatsu and Hino) were 1074.2 1 10,000 vehicles, up 1.4% year-on-year. Subaru's global sales volume was 65,438+0,042,000 vehicles, an increase of 4%. According to this calculation, after the new Toyota Group joined the Subaru brand, the overall sales volume of 2065,438+0,654,38+0,784,5438+0,000 vehicles exceeded that of Audi ag's 65,438+0,097,460 vehicles.
Financially, Subaru will not burden Toyota. According to the published financial report, the operating income of Subaru in the third fiscal quarter (20 19, 10, 1 2020,12,31) was 888.9 billion yen. The net income is 43.4 billion yen (about 2.77 billion yuan). Although the net profit decreased by 42%, Subaru is optimistic about the current fiscal year ending March 3 1 in 2020. It is expected that the net profit will increase by 15%, reaching163 billion yen (about 104 billion RMB).
Technically, in 20 12, Subaru BRZ and Toyota 86 jointly developed by Subaru and Toyota * * * caused vibration in the car world, which made a good start for their cooperation; 2065438+In June 2009, Toyota and Subaru announced that they would jointly build a pure electric R&D platform and develop medium and large passenger cars based on this platform. Subaru's four-wheel drive technology and Toyota's new energy research and development technology are undoubtedly the technical basis for their future cooperation.
Will Subaru be made in China?
Two days ago, Toyota's Lexus was made in India, which caused some dissatisfaction among domestic consumers. Will Subaru be made in China after being acquired by Toyota? In fact, as early as a few years ago, Subaru had the intention of localization, and the object of choice was Chery Automobile. Just because Toyota holds 65,438+06.5% equity of Subaru, it is recognized as a subsidiary of Toyota (excluding Japanese legal level), and Toyota can't have more than two similar joint venture subsidiaries in China, so NDRC failed, which really affected the expansion of Subaru to some extent.
Speaking of Subaru, I have to mention Pang Qinghua, a legend who led a huge group to glory and then went bankrupt. When Subaru first entered the China market in 2004, Huge Group was one of its general agents in China. With the investment of the huge group, Subaru's sales in China grew rapidly, which not only contributed a high proportion of profits to the huge group, but also laid the foundation for further cooperation between the two sides.
In 20 13, Pang Qinghua formally signed a joint venture contract with Ji Yongtai, president of Fuji Heavy Industries Co., Ltd., and established Subaru Automobile (China) Co., Ltd., which also means that Subaru Automobile (China) Co., Ltd., which was originally wholly owned, became a Sino-foreign joint venture company, and its registered capital increased from 600 million yen to 2.95 billion yen, of which Giant Group contributed 40%, Fuji Heavy Industries contributed 60% and the total investment was 9 billion yen. In a sense, this also realized Pang Qinghua's dream of becoming a shareholder of a car company.
Although Subaru has actually become a subsidiary of Toyota, its operational independence is still relatively strong. According to China's existing policies, the foreign share ratio limit for commercial vehicles will be abolished in 2020, and the foreign share ratio limit for passenger vehicles will be abolished in 2022. At the same time, the restriction of no more than two joint ventures will be lifted.
Not long ago, Sichuan Hyundai was wholly-owned by Hyundai Group (100%). After the restriction of no more than two joint ventures is lifted in 2022, the policy obstacle of Subaru's localization will no longer exist. Considering the continuous development of new energy vehicles, the joint development of pure electric SUV by Subaru and Toyota, and the present situation of Subaru China, Gang Ge thinks that Subaru will introduce domestic products with great probability. What do you think?
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.