Repurchase of Delphi Causes Serious Pressure on Chinese Motor Firms Ministry of Commerce Prepares for General Antitrust Investigation On September 23, the reporter learned that the Anti-Monopoly Bureau of the Ministry of Commerce recently convened a closed-door conference on the centralized anti-monopoly review of the “General Deliveries of Delphi†operators, including representatives of General Motors and Delphi, as well as representatives of Chery Automobile and the China Automobile Dealers Association. This meeting. The reporter learned that representatives from China, including Chery and the Automobile Circulation Association, expressed concerns about the general acquisition of Delphi; GM and Delphi hoped that China would release it as soon as possible because of cash flow, and allow Delphi to step out of bankruptcy protection. The reporter learned from GM China yesterday that GM is discussing this issue internally and has not yet formed a clear-cut attitude toward the outside world. Delphi is the supplier of parts for most domestic auto companies. Car dealers worry that once General Motors repurchases Delphi, Delphi's quality resources in all aspects will be tilted to GM, and Chinese auto makers' information will also be leaked. In addition, they are worried that they will be out of stock. At the review meeting on September 18, Chery, as a representative of Chinese auto companies, explicitly opposed the general repurchase of Delphi. A few years ago there had been similar sudden outages between Delphi and Chery, allowing Chery to re-find its supply. According to the "Anti-Monopoly Law" that was implemented on January 1, 2008 in China, the sales of the acquiree and the acquirer in China exceed 400 million yuan, and the two countries' annual sales in the year exceeded 10 billion yuan. Antitrust investigations must be accepted, so the general acquisition of Delphi is subject to antitrust review by the Chinese Ministry of Commerce. Delphi is the world's largest manufacturer of automotive wire harness systems, but filed for bankruptcy protection in 2005 because of operational difficulties. Delphi was originally a component subsidiary of General Motors and was formally detached from GM in 1999. However, Delphi is still the largest supplier of GM so far. In 2008, it accounted for approximately 11.3% of the general procurement volume. According to the acquisition plan, GM will occupy more than 80% of shares in New Delphi. If Delphi goes bankrupt, it will have a severe impact on GM and Chinese car companies. China is also Delphi’s most important market. Last year, Delphi’s global sales were 16 billion US dollars, and China’s business accounted for 10%. At present, both the US Anti-Monopoly Bureau and the European Union have approved GM’s acquisition of Delphi's assets. Vacuum Packaging Machine,Vacuum Packing Machine,Air Tight Packing Machine,Vacuum Pack Sealer Hangzhou Jingyi E-commerce Co.,Ltd , https://www.jypackmfg.com