In response to the recent anti-monopoly investigation conducted by General Motors' M&A Delphi, the Ministry of Commerce officially issued an announcement on September 28: In view of the stipulated time, the two parties put forward solutions that can reduce the adverse effects of concentration on competition, and basically eliminated business. The ministry’s competition concerns, the Ministry of Commerce decided to accept the solutions proposed by both parties. This means that the Ministry of Commerce has approved the GM Delphi deal after GM and Delphi made four commitments including non-discriminatory supply, core information protection, and customer’s smooth transition to suppliers, that is, additional restrictions. . On September 29, Jiang Jian, director of public affairs and marketing for Delphi’s Asia-Pacific region, told reporters that the final decision of the Ministry of Commerce was made after fully listening to all parties’ opinions, taking into account Delphi’s specific needs for time out of bankruptcy protection. This is a satisfactory result. Jiang Jian also said that in addition to process issues, Delphi’s current obstacles to anti-monopoly review in various countries have basically disappeared, and Delphi is expected to step out of bankruptcy protection in early October. As one of Delphi’s major customers in China, Chery’s related parties also stated in a telephone interview with this newspaper on September 29. The cooperation with Delphi is developing in a good direction. At present, there is no plan to change suppliers. The four additional restrictive conditions announced by the Ministry of Commerce include: First, after the completion of the centralized transaction, GM and Delphi shall ensure that Delphi, its affiliates controlled and controlled by Delphi, will continue to provide domestic automobile manufacturers with non-discriminatory supplies. Second, after the centralized transaction is completed, GM must not illegally seek to obtain competitive and confidential information from other domestic auto makers owned by Delphi. Delphi shall not illegally disclose to GM the competitive confidential information of other domestic auto makers it holds. Both parties may not Formal or informal ways to illegally exchange and communicate third-party competitive confidential information. Thirdly, after the centralized transaction is completed, GM and Delphi shall ensure that Delphi, its affiliates controlled and controlled by Delphi, shall meet the legitimate requirements of customers and cooperate with the customers in the smooth transition of suppliers, and shall not intentionally delay or set up or claim restrictive conditions in order to improve The conversion costs of other OEMs can thus limit the effects of competition. Fourth, after the completion of the centralized transaction, GM should continue to follow the principle of multi-source supply and non-discrimination for the procurement of all its auto parts. With regard to the commitment and implementation of additional restrictive conditions, Jiang Jian said that these four commitments issued in the form of announcements by the Ministry of Commerce are commitments with sufficient legal force and are committed to all customers in China, not to any one customer. “ Among the four commitments, the smooth transition of suppliers to meet customers is a big commitment. If domestic customers have such ideas, first of all we must work hard to dispel their concerns and find a way to remedy the situation if both parties have been negotiated, We did not find a reasonable solution. Under the terms of both parties' contracts, we will cooperate with customers to complete the conversion of suppliers." In fact, after Universal General's repurchase of Delphi, whether GM will make strategic adjustments to Delphi in the future and increase Delphi's tilt, whether Delphi's independence has shifted or not remains a matter of great concern. Long-term research in the field of automotive parts industry believes that GM's business adjustment of Delphi must wait at least three years later, parts suppliers and OEMs generally have to sign supply contracts three years in advance, strategic adjustment will certainly not come soon . In addition, the replacement of parts suppliers for the cost of the entire vehicle company is huge, most of the vehicle companies in the R & D process is concerned about the appearance, the engine and the matching of the various systems, but also focused on the development of requirements for parts and components companies, Because of this, many of the entire vehicle's intellectual property rights are owned by the parts suppliers. That is, if the new model that GM is to develop is an improvement on the original platform, the cost of replacing the new supplier is enormous. Unless the GM-developed models are on brand-new platforms, the possibility of replacing new suppliers will be greater, that is, there is a possibility of Delphi in this situation. However, there is also a competition issue. From a global perspective, Delphi does not occupy an absolute leading edge in the manufacturing of various components including air conditioners, harnesses, and engine management systems. More importantly, from the perspective of the global development of parts and components, parts and components companies remain independent, and vehicle companies rely on a number of parts suppliers is still a general trend. European parts and components companies have maintained this independence, North America On the other hand, starting from the 1990s, Delphi and Visteon have also demonstrated this trend from GM and Ford independence. At present, only Japan's parts suppliers are mostly controlled by Japanese automakers, but similar parts and components companies such as Denso have also supplied automakers such as German Volkswagen. Recently, suppliers in the Japanese system have caused insufficient competition. The problem has also been criticized in the industry. (21st Century Business Herald He Fang) China's auto industry calls for rigorous investigation of the general repurchase of Delphi Yesterday, in response to GM’s acquisition of Delphi, an auto parts manufacturer, the relevant persons in charge of the National Auto Circulation Industry Association, Hejun Entrepreneurship Advisory Group (a member of the Advisory Committee of the Association) and the Transnational Business Law Institute of Renmin University of China expressed their opinions. Concerns over the matter and hope that the Ministry of Commerce will take sufficient time to investigate the possible impact of this merger on Chinese cars. Delphi, one of the world's largest auto parts companies, was originally a parts subsidiary of General Motors, and Delphi officially separated from General Motors. But Delphi failed to escape the impact of the financial crisis. Delphi filed for bankruptcy protection in 2005, and the old owner General Motors decided to buy back Delphi again. As Delphi has business in the global market, especially in the Chinese market, according to the "Anti-Monopoly Law" that was implemented on January 1, 2008, the sales of the acquiree and the acquirer in China exceed 4 percent. The 100 million yuan, and the two countries’ sales in the world that year exceeded 10 billion yuan, must accept China’s anti-monopoly investigation. On August 31 this year, GM and Delphi formally submitted an anti-monopoly application to the Chinese Ministry of Commerce. For this matter, the tripartite person in charge of the National Auto Circulation Industry Association stated that at present, Delphi’s parts revenue in China is as high as US$1.8 billion, accounting for 25% of China’s high-end parts and components market. If Delphi changes from an open operation to a generic closed ancillary supporting industry, it will fundamentally change the parts procurement policy of General Motors. In order to protect the interests of its subsidiaries, General Motors will give priority to statutory compulsory procurement of Delphi products. “The protectionism formed by GM’s merger with Delphi has caused great damage to China’s auto parts companies. They will gradually lose the market for GM.†The relevant person in charge said. (Beijing Business Daily Qian Yu) Bosch Says GM Repurchased Delphi Has Little Impact on It The Vice President of Bosch China stated that because General Motors’ repurchase of Delphi mainly involves turning to the business, there is no obvious competitive relationship with Bosch, so it has little impact on Bosch. On September 24th, during the Beijing International Auto Parts Exhibition, Chen Yudong, Executive Vice President of Bosch (China) Investment Co., Ltd. made the above statement when interviewed by reporters. Chen Yudong stated that Bosch did not participate in the conference organized by the Ministry of Commerce for GM's repurchase of Delphi. This event has little impact on Bosch China. Bosch and Delphi are world-renowned auto parts suppliers. Delphi was once an auto parts company under General Motors and was independent from General Motors in 1999. Since 2005, it has entered bankruptcy protection procedures. Currently, Delphi’s total investment in China exceeds US$500 million. In July 2009, General Motors and Delphi signed an agreement and decided to buy back Delphi's steering business. According to China's "Anti-Monopoly Law" implemented on August 1, 2008, GM's repurchase of Delphi needs the approval of the Chinese Ministry of Commerce. The Ministry of Commerce held an internal meeting for General Motors to repurchase Delphi in September and listened to the opinions of the industry, but no decision has yet been made. Bosch is the world's largest supplier of automotive parts. In 2008, Bosch had sales of 2.2 billion euros in China; among them, the automotive business had sales of 1.3 billion euros.
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