The Swedish ambassador in Beijing wrote an internal report on the new Chinese shareholder following the announcement of the Hawtai Motor Group's collaboration with Saab. This text, which was sent to the Foreign Office, is likely to cause a lot of explosive material and is now before Svenska Dagbladet.
The Swedish Ambassador to Beijing, Lars Freden, has found remarkable details about Hawtai. He writes what sounds unbelievable in our ears that the Chinese have only been producing their own cars for a year. Although the company exists since the year 2000, only Hyundai licenses were built until a year ago, this cooperation is now terminated. In other words, Hawtai is a very young automotive company.
Instead of the announced 200.000 cars, only 81.000 were built last year, according to the ambassador. Other sources also consider this number to be exaggerated and assume a maximum of 60.000 cars produced. Hawtai's CEOs have been replaced six times in the last 8 years, which speaks little for continuity, but for an “interesting and turbulent” company life.
Behind the car maker is a certain Zhang Xiugen, a member of the Chinese Communist Party. This Xiugen is the chairman of the Hengtong Group, a conglomerate of banking, telecommunications and mining companies. Mining firms in particular appear to be the corporation's cash cow, according to the report. One of the profitable mines is in Ordos, Inner Mongolia, where - certainly no coincidence - one of the automobile factories is located. The Saab 9-3 successor will roll off the assembly line in this factory from 2013.
In Sweden, Saab's cooperation with Hawtai was rated as positive, but reactions in the People's Republic are rather negative. The media believe in a show by Hawtai to earn a reputation. Ambassador Freden sees some open questions. So the business was completed very quickly in just three days.
Representatives of the powerful National Development and Reform Commission were not sighted, even at the press conference. The Development and Reform Commission must bless the business. Ambassador Freden is worried about what will happen to Saab's technology in the long term. Hawtai, he says, is only interested in technology transfer.
That's the way it was. Yesterday was the day of exuberant joy, in another blog, even hearts appeared on the Hawtai deal, so today is the day of the skeptics. Every bet.
Svenska Dagbladet is not a speculative publication in Sweden, the report should give the facts as they really are. But let's stay calm and wait and see. Anyway, keep on Saabing!
Text: admin / saabblog.net