The subprime mortgage crisis had been exposed, and many media outlets were reporting that it would affect too many financial companies. Ford's car loan business was also greatly affected.
The top three US automobile manufacturers, Tongyong, Ford, and Chrysler, have their own automobile credit companies. But Tongyong's is the biggest one.
Ford's cost is higher, but it is still lower than Tongyong. Also, Ford only owns a few brands. Ford, Linken, Jaguar, Land Rover, Volvo, and Mazda.
They are much better than Tongyong in terms of brand management. In Feng Yu's previous life, Ford can survive the crisis is because they had sold off their other brands and only kept Ford and Linken.
The sales of Ford's brands had made a lot of money. It was not like the same brand. Many brands wanted to sell but could not sell.
Feng Yu likes Ford's brands more. These brands are better than Tongyong's brands. Of course, they are more expensive.
Chrysler also has brands that Feng Yu likes, like Dodge and Jeep. Back then, Klesler had cooperated with Daimler, the parent company of Benchi, and merged to form Daimler-Klesler. But now, Klesler was suffering heavy losses, and it would definitely be dumped by Daimler, just like in his previous life.
At present, there was already a consortium in the United States that was interested in Clarice, especially the credit company under Clarice. They felt that this company was currently making good profits and would seize the auto credit business market.
That's why Feng Yu gave up on Chrysler, and he ordered Ralph to focus on Tongyong and Ford.
Others might not know, but Ralph knows Wind and Rain Holdings does not have so much cash. They can't even take out 10 billion USD.
This is because Feng Yu had used the cash from selling the subsidiary companies' shares in the form of dividends. It might be possible to acquire one brand, but it's impossible to acquire two brands. It's impossible to acquire so many brands!
If Feng Yu succeeds, Bing City Machinery Manufacturing Group will become one of the top five automobile manufacturers in the world. Their annual sales will be more than 5 million vehicles!
Of course, Feng Yu will need a large amount of funds to acquire all these brands.
Conservatively speaking, if he were to acquire all of them, it would definitely be more than 20 billion USD!
Ford's CEO had indeed come to talk to Ralph. He is indeed planning to sell his brands, but he will not sell his car rental company, credit company, and Hua Xia's shares. These are all strategic investments and must not be sold!
But Mazda's shares, Jiebao, Land Rover and Volvo's shares can be sold. But they are not selling the entire brand.
Ford's brands weren't originally from the United States. They were European brands, and when Ford acquired them, they went through a restructuring to remove a lot of non-performing assets, which greatly reduced the burden.
At this time, Feng Yu needed to think of a way.
Tata Corporation, which was seeking to expand its business, was a good ally. In Feng Yu's previous life, it was Tata Motors that had acquired the Jaguar and Land Rover brands.
And there was another ally, the state assets!
…
"What did you say? Are you saying that we can acquire the business of these big European and American automobile brands?" Zhang Ruiqiang asked in surprise.
This was great news! Hua Xia will be proud to acquire an American automobile manufacturer.
"Why not? The state assets have a lot of money now, including pension funds. Why can't we invest these funds and use the dividends to pay our pension funds? "
"Of course. It's fine if the government is not interested. I will acquire all these companies, and India's Tata Group is also an important partner of mine. They are also interested."
Feng Yu knew China's automobile manufacturers want to go overseas. For example, last year, Shanghai Motors had acquired UK's Ming Jue Motors to enter the European market. Of course, Feng Yu can also get some technologies from Ming Jue Motors.
In Feng Yu's previous life, this was the first time Hua Xia had acquired overseas automobile manufacturers. But in this life, it is different. After all, Bing City Machinery Manufacturing Group had acquired some overseas automobile factories two years ago.
That's why Feng Yu had approached Zhang Ruiqiang, and Zhang Ruiqiang is confident the higher-ups will not reject him.
Furthermore, Feng Yu is not trying to cheat them. The assets that will be given to the state will be top quality assets. This way, he will not let outsiders have their benefits.
Zhang Ruiqiang felt something is not right. How can Feng Yu give up all the benefits?
"Just tell me what your conditions are."
Feng Yu: "… …"
Is it so obvious?
"Alright, then I'll be straightforward. There are many assets worth acquiring, and I need some factories in Europe and North America. I also need some technologies, and I only want one brand. I can let you all have the rest. "
"As for what I've done, I've given the state the opportunity to acquire these top automobile brands. In addition, I'll try my best to restructure these assets, remove some non-performing assets, and hand over high-quality assets to you."
"Of course, this will take some time, but it will not take more than a year. I will also ask the state assets to take back some of the joint venture automobile manufacturers' shares. The higher-ups had been thinking about this for a long time, right? "
Zhang Ruiqiang frowned. This is not right. It sounds like Feng Yu had given up a lot, and the state assets are benefiting a lot.
Although Feng Yu is a patriotic person, he does not seem like someone who will give all the benefits to the state. There must be some hidden conditions that Feng Yu did not mention.
"You have other conditions, right? Can't you just say it all at once? Also, the restructuring of the assets will take one year. Why is it so long? "
"I don't have any other conditions. The state assets will fork out the money first, and after the restructuring is completed, I will fork out the money. Of course, there will be interest."
This is Feng Yu's motive. Feng Yu's funds had recovered in one year, and Feng Yu's plan is for the state to fork out the money first, and Feng Yu will return the money later. This will let Feng Yu borrow the state assets.
As for those brands that the state assets to the state assets to, Feng Yu does not want to take all of them. He can manage more brands, but it will be a burden if he has too many brands.
Zhang Ruiqiang understood what Feng Yu wants. He does not want to fork out the money, and he wants the brands. But Feng Yu also knows what Feng Yu is doing with his funds now.
It is also because of Feng Yu's guidance that the state assets had made lots of profits in the past few years. This time, the state assets had escaped from the US stock market and avoided losses.
"Ok. We can do this. Wait for my news!"
… …
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