Feng Yu had just finished lunch in his office when Tang came in to report that Tongtong Motors had agreed to their offer and is willing to pay a reasonable amount of assets.
Feng Yu took a look at the form. Horton Motors is worth the most, followed by a R&D center in the US, which includes some patents, which will be sold to Feng Yu.
Lastly, there are some technical patents and two factories in Europe, which are mainly producing spare parts and developing spare parts technologies.
Based on Tang Feng's asset valuation, although Feng Yu had some debts, these assets were worth about 13 billion USD and only had 2.7 billion USD of debts. This was better than Feng Yu expected.
But Tongtong Motors refuses to sell Hua Xia's joint venture shares. They had lost the South Korean market, and if they sell all Hua Xia's joint venture shares, they will not have any potential in Asia.
Although there is a joint venture in Singapore, the production is too low, and the sales are not good. The other countries' automobile manufacturers have no say in Japan. India was doing well in the past, but now, it is under pressure from Tata.
Feng Yu put down the form and looks at Tang. "I will sign this contract. Can Tongtong Motors revive?"
Even if they do not expand, they must not give Tongtong Motors a chance to revive. The world's number one automobile manufacturer is defeated, and their brand advantage is the strongest in the world. If they revive, Bing City Motors will not be able to enter the North American market.
"Ten billion USD in cash isn't enough for a car of the same type at this time. Tongtong Motors still needs the US government's help. Based on our estimates, Tongtong Motors needs 40 billion USD to survive. If they want to revive, they will need double this amount. "
"The US government does not have so much money. After all, there are too many companies that need to be saved, and many of them do not need a lot of money. Furthermore, Tongtong Motors still has some powerful shareholders, and the US government will not help those shareholders. "
"That's why 10 billion USD might seem like a lot, but it is not enough for Tongtong Motors to survive. Based on our analysis, the US government will surely step in. But because of this 10 billion USD, the US government will adjust their expectations and give Tongtong Motors less money. Tongtong Motors might not be able to survive! "
Feng Yu was particularly happy to hear Dunn's words. He had spent money to improve himself without giving his competitors a chance to make a comeback. He could also continue to keep a burden for the US government. It was killing two birds with one stone.
"Alright, draft up the contract and bring it over later. I'll sign it!"
Feng Yu made two calls to Taihua Holdings and Bing City's Machinery Company to inform them that he wants to acquire the automobile business. This was discussed before, and everyone agreed.
Bing City Machinery Manufacturing Group cannot afford this amount, and Taihua Holdings also does not have so much cash. That's why the relevant shares will be changed.
…
"We welcome Chairman Li Dafu's speech." Li Mingde took the lead to applaud.
The name tag in front of Li Mingde had changed to Bing City Machinery Manufacturing Group's Consultant, and Li Dafu, the President, was finally elected as Bing City Machinery Manufacturing Group's Chairman.
"Colleagues, I, Li Dafu, might have joined our company later than most of you, but I had come this far. Thank you all for your support and help. But I, Li Dafu, am confident that I can manage our company well and bring it to new heights. I will let all of you, including our employees, earn more than before … "
"I have another piece of good news to share with all of you. Chairman Feng had just signed a contract in the US to acquire Australia's Horton Motors and some of Tongtong Motors' R&D centers. Some of our weaker technologies will be upgraded."
"Among the top ten automobile manufacturers in the world last year, only our Bing City Machinery Manufacturing Group's sales and profits grew. The rest, including Tongtong Motors, which used to be the world's number one automobile manufacturer, are all declining. Tongtong Motors is on the verge of bankruptcy, and Ford was forced to sell off half of its business."
"Dezhong has shut down three large factories, Toyota has shut down two, Renault-Nissan has shut down four, and Fiat has shut down three branches … All of them are laying off a large number of people. The three major US manufacturers are laying off the most, followed by the European and Japanese manufacturers."
"Someone said our Bing City Machinery Manufacturing Group's sales and profits are increasing because of our Hua Xia market. Although our sales in Hua Xia had increased, our market share is declining. Our sales in East Europe and India are also increasing, but our market share is also declining. "
"It's the same in Europe, North America, and other major markets. Our market share reflects a company's status. We are the leader in Hua Xia and East Europe, but our market share is average in other markets. "
"But ever since we acquired the Jiebao, these things have changed a lot. Now, we had acquired Horton Motors and set up a joint venture factory in East Europe. We also set up a new joint venture company in India, and we even have our first joint venture automobile manufacturer in Brazil. "
"Others are looking down on us because they are jealous of us. Of course, we must not be arrogant. We are still far from the top of the world. "
"After acquiring all of Horton's automotive assets, our annual production is expected to reach five million vehicles. Based on our predictions, we will be ranked fourth in the world this year. We are only behind Toyota, Dezhong, and Honda. "
"We have surpassed Honda, Lexus, Nissan, Fiat, Hyundai, and other automobile manufacturers. As for Ford, BMW, and Daimler, we have already surpassed them last year."
Everyone is clapping excitedly. Bing City Machinery Manufacturing Group's automobile industry is growing by leaps and bounds.
"In the next few years, we will not acquire any other brands. We want to increase our sales and profits based on our existing brands."
"If we only focus on passenger cars, we can be the world's number one automobile manufacturer within three years. But don't be too excited. Our overall profits, including our profit margins, are not as good as Toyota, Honda, and many other companies. "
"… this is what we will be working towards. We must increase our sales, profits, market share, brand value, etc. Our goal is to be number one. We have the funds, technologies, brains, and drive. Why can't we be number one? "
"We are already number one in the electric scooter industry in terms of sales, revenue, and profits. For motorcycles, we are also number one in terms of sales, revenue, and profits. For agriculture machinery, we are number one in Asia. We will also be number one in the automobile industry! "
… …
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