A cross-border acquisition
Today, Lu Chao recalls that the experience of acquiring the Dutch e-Traction company is still difficult to conceal and content. "From the contact in April, and finally finalized in September, this speed is fast enough, even if it is to acquire domestic companies, it is not necessarily faster than this." It is said that there was also a Chinese-owned car company with a state-owned background to participate in the acquisition, but Lu Chao Its subsidiary, Hubei Tate, relies on the mechanism of private enterprises to be flexible and responsive, and has taken the lead. When the report of the state-owned enterprise applying for the acquisition was approved, Hubei Tate had signed an acquisition agreement with e-Traction.
From the introduction of Lu Chao and representatives of the Dutch e-Traction company, the reason why the two sides came together so quickly was mainly because of the "consistent goal." Founded in 1981, the Dutch e-Traction company has more than 30 years of research and development experience in the field of electric drive systems. The development of the hub powertrain began in the late 1990s. Up to now, e-Traction has more than 200 invention patents, and its products have been applied to buses and buses in 8 countries in Europe. The vehicles equipped with its products have been running on the road for 8 years, and the products have been developed. To the third generation.
The representative of the Dutch e-Traction company told the Economic Observer that although they are confident in their own technology, the marketization path in Europe has not been smooth for a long time. First, e-Traction products are mainly used for commercial vehicles, while the European commercial vehicle market is not big. Second, more importantly, the European commercial vehicle market is highly concentrated, mainly concentrated in the hands of several vehicle giants. The car giants and component giants have formed a strategic alliance for many years. They don't have much enthusiasm to try new partners and new technologies, especially new technologies that need to abandon the entire transmission to the hub motor.
Therefore, when the original shareholder intends to withdraw from e-Traction in 2015 to find a new owner, e-Traction's management team and the original shareholder reached an important consensus: to find a Chinese investor. The reason is that China's commercial vehicle market is large and has more potential than the European and American markets; China's new energy vehicle market is developing rapidly, and the hub motor is very suitable for electric vehicles. Although Tianhai Synchronization has become the backbone enterprise of China's gear industry after more than 20 years of development, it has six series of products: synchronizer, planetary platoon, gearbox, anti-skid differential, friction pair and automatic gearbox thin-walled toothed parts. However, as a local secondary component supplier, it has been looking for opportunities for transformation and upgrading.
After the two sides contacted, they hit it off and soon came together. Lu Chao said that the rapid decision to take the acquisition of the Dutch e-Traction, in addition to optimistic about the hub of the motor technology trend, more importantly, the company's products have been running on the production car for many years, product reliability, technology leadership verification. “Ten cities in five European countries have operated more than 200 wheel hub motors, and some have been running for eight years. Through data comparison, the overall cost of the hub motor is 10% lower than that of the central motor. Compared with the wheel motor The cost may be at least 11% lower. Moreover, the hub motor is more energy-efficient than the central motor, saving about 25%. At the same time, more importantly, the e-Traction hub motor can be repaired for 1 million kilometers. The central motor structure is simpler and more reliable."