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VC gives olive branch to China's car part makers

By Lin Guan (chinadaily.com.cn)
Updated: 2008-03-06 10:50

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Venture investors are showing increasing interests in China's spare part sector.

Hunan Jianglu & Rongda Vehicle Transmission Co Ltd, one of the country's major producers of continuously variable transmissions (CVT), acquired 60 million yuan (US$8.39 million) in capital from a venture investor at a Guangzhou investment promotion fair.

In June 2007, Tianjin Motor Dies Company Ltd received venture capital totaling 60 million yuan from a number of mutual funds. Wonder Auto Technology Inc, a leading engine provider, went public on the NASDAQ after venture capital injections.

Venture investors have reached far enough into the auto sector, getting involved with almost every aspect of the auto industry such as auto insurance, after sales service, second hand vehicles transaction, and hybrid vehicle development.

Great potential in the car part sector has enormously attracted venture investors' attention. The average profit margin globally for whole vehicle makers over the last decade is 4.7 percent, while the top 10 spare part manufacturers saw an average profit margin of 6.4 percent. However, the figure for the top 50 Chinese car part makers is 0.4 percentage points higher than the global figure, at 6.9 percent.

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The full text is available in the February Issue ofAuto China