Farewell to "French luxury" DS Changan PSA officially changed its name to Shenzhen Baoneng

Text: Yang Yanan, who knows the original of Chedi

In addition to the name change, the legal representative of the company has also been changed, from Zhu Huarong, president of Changan Automobile, to Sun Li, vice president of Baoneng Investment Group Co., Ltd., and all other major members have been replaced by senior executives of Changan and PSA. The nature of the company has also changed from a Sino-foreign joint venture company to a sole proprietorship of Baoneng. The latest investor is Shenzhen Qianhai Ruizhi Investment Co., Ltd., which is wholly owned by Baoneng Automobile Co., Ltd.

the business scope of the company has also changed. After comparison, Master Che found that in the new business scope, the original expression of "engaging in marketing management services of imported DS brand cars, including after-sales service, brand promotion, product promotion, customer relationship management, etc." has been cancelled. This means that although PSA has repeatedly stressed that DS brand will not quit China, the reality is in front of us, and the fate of DS in China is clearly discernible.

A series of changes mean that Changan PSA, together with DS brand, has completely disappeared from the map of China automobile industry. Although DS had a good start in China, its ending was gloomy and disappointing.

In 211, Changan PSA was established as a joint venture. At that time, the French automobile market was in the "golden age" of vigorous development, and both Chinese and French shareholders were full of expectations for the prospect of DS brand in China. Especially for Changan Automobile, it was the only "luxury brand" in its entire group structure at that time.

So, under the banner of "French luxury", DS brand started its journey in China market. With the rising tide of the market, the sales volume of DS brand in China reached 27, in 215, but then it declined all the way, completely becoming a marginalized brand in the market. At this point, DS has become a "chicken rib" between Changan and PSA.

in November, 219, PSA sold its 5% stake in changan PSA, and it was Baoneng who took over the offer. On December 31, 219, Changan Automobile announced that it would sell the other 5% equity to Shenzhen Qianhai Ruizhi Investment Co., Ltd., which is also a Baoneng department. At this point, the two major shareholders officially cleared the relationship with Changan PSA and transferred the enterprise bred by their joint venture to others.

it is worth mentioning that, as a veritable "receiver" in the automobile industry, Baoneng had "eaten" a majority stake in Qoros before wholly acquiring Changan PSA. Thanks to Baoneng's huge business operation ability (some media call it the "left-handed and right-handed" model), the wholesale sales of Qoros once showed a staggering growth rate. However, the follow-up market sales proved that the model was not sustainable, and even caused strong dissatisfaction from the original dealers of Qoros.

Some analysts believe that the real purpose of Baoneng's entry into the automobile industry is not clear. "Baoneng has money and resources, but it has insufficient understanding of the laws of the automobile industry and lacks a really clear and definite plan, and its long-term prospects are not optimistic."