Recently, the reporter learned from insiders of Beiqi that Beijing Automobile's restructuring of Changhe is proceeding smoothly. “If nothing unexpected happens, it will be announced in October.†After Beiqi acquires Changhe, Changhe Automobile will be assigned to the newly established vehicle division of BAIC Group.
In June of this year, Xu Heyi, chairman of Beijing Automotive Industry Corporation, publicly stated that Beiqi will reorganize two auto companies this year. In early August, Beiqi officially incorporated Zhenjiang Automobile. Afterwards, the scandal between Beiqi and Changhe Automobile was also frequently reported. Recently, Beiqi insiders revealed that Beijing Automobile's reorganization of Changhe Automobile is nearing the end and will be announced within this month. "The delivery of assets is currently underway."
After the strike at the end of last year, Changhe Motors, which belongs to Changan in China, has been in autonomy. In August this year, the industry reported that BAIC was in contact with Changhe Auto to discuss restructuring issues. Changhe Motors belongs to China Chang'an, and the fierce competition between Beiqi and Changan Automobile has caused the industry to doubt the possibility of successful restructuring. According to sources, BAIC will not reorganize the entire Changhe Auto. Before BAIC took part in the reorganization of Changhe Auto, Changan, China has reached an agreement with the Jiangxi Provincial Government to divest the Chang’an system for the Jingdezhen base and Jiujiang base in Changhe Automobile. The Hefei base of Yuchanghe Automobile will be placed under Chang'an. BAIC reorganized Changhe Auto's Jingdezhen and Jiujiang bases.
According to sources, at an internal meeting of the Beijing Automotive Industry Group before the holiday season, Beijing Automobile Group chairman Xu Heyi mentioned that BAIC will also have a Jiangxi base in the future. This is Changhe Automobile.
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