Hubei Shiyan City Advances Transformation and Upgrading of Its Automobile Industry—The 'Truck Capital' Rises Greenly

In the commercial vehicle sector, Shiyan has implemented an 'integrated whole-vehicle and specialized-component' strategy, focusing on specialization, refinement, distinctiveness, innovation, and lightweighting. It encourages specialized vehicle enterprises to target niche markets, pursue differentiated and complementary development, consolidate production of engineering dump trucks and logistics transport vehicles, expand production of operation-specific special-purpose vehicles, and actively develop multi-purpose special-purpose vehicles for tourism and leisure, emergency rescue, and specialized industries. In the passenger vehicle sector, Shiyan promotes deep cooperation between Dongfeng Motor and Sokon (Kaiyi), leveraging Sokon’s existing microcar platform and production qualifications to expand into the passenger vehicle market. A series of mid-to-high-end sedans, sport utility vehicles (SUVs), and business vehicles—designed to meet evolving consumer demands—are being developed, driving a gradual shift of passenger vehicle products from low-end toward mid-to-high-end segments. In the electric vehicle sector, Shiyan accelerates R&D and industrial application of new-energy commercial vehicles, hydrogen fuel-cell technologies, intelligent chassis systems, and commercial vehicle software management platforms. It supports Dongfeng Commercial Vehicles in developing battery-swap solutions and hydrogen fuel-cell heavy-duty trucks, while also promoting rapid growth of Dongfeng Sokon’s mid-to-high-end electric vehicles and Yijieti’s new-energy vehicles. Today, tangible results are already emerging. At Dongfeng Sokon’s new air-port factory in Shiyan Economic & Technological Development Zone, one Dongfeng Sokon passenger vehicle rolls off the assembly line every minute; the Dongfeng Fengguang series of mid-to-high-end and all-electric passenger vehicles is now sold nationwide. At Xiamen Yuanhai Container Terminal, the third-generation ‘Wuxianxing’ port tractor—developed by Dongfeng Commercial Vehicles and equipped with L4-level autonomous driving technology—is operating efficiently. At this year’s China International Import Expo (CIIE), Jishen Automobile Co., Ltd. of Shiyan unveiled its mid-to-high-end recreational vehicles (RVs), immediately drawing industry attention. According to Zhu Yang, General Manager of Jishen, the company received nearly 100 orders on-site, totaling close to RMB 100 million, and expects to exceed 1,000 units in annual sales this year. Shiyan has now established a comprehensive automotive industry system covering the full spectrum of commercial vehicles, multiple varieties of passenger vehicles, and a robust electric vehicle value chain. It ranks among China’s regions with the most complete automotive industrial chains and highest levels of industrial clustering, rapidly advancing into a phase of 'co-development of commercial and passenger vehicles' and 'dual emphasis on conventional and new-energy powertrains.' From January to October this year, Shiyan produced 90,000 commercial vehicles and 172,000 passenger vehicles—including 84,000 new-energy vehicles, representing a 105.7% year-on-year increase and accounting for 32.1% of the city’s total automobile output. Seizing Opportunities for Green Transformation On November 10, Shiyan held a centralized signing ceremony for major new-energy industry projects: eight projects with a combined investment of RMB 52.2 billion were announced, spanning new-energy and intelligent connected vehicles, power batteries, and clean energy. Among them, the Grof Hydrogen Energy Vehicle Production Project—located in Zhangwan District, Shiyan—will establish a hydrogen energy industrialization base with a total investment of RMB 5 billion. Dr. Hao Yiguo, Chairman of Grof Hydrogen Energy Automobile Co., Ltd., stated that upon full capacity, the project is expected to generate an annual output value of RMB 10 billion. Zhang Tao, Member of the Standing Committee of the Shiyan Municipal Party Committee and Secretary of the Zhangwan District Party Committee, remarked: 'Zhangwan boasts a solid industrial foundation and a highly concentrated automotive industry—it is fertile ground for industrial development. The settlement of this hydrogen energy industry project fills a critical gap in Shiyan’s local hydrogen energy automotive sector and plays a positive role in advancing the transformation and upgrading of Shiyan’s automobile industry.' Recognizing Shiyan’s promising prospects in automotive industry development, the China Electric Vehicle 100 Forum recently signed a deep strategic cooperation agreement with Shiyan, establishing the China Electric Vehicle 100 Forum New-Energy Intelligent Connected Vehicle Component Industry Innovation Center in the city and jointly drafting the 'Shiyan New-Energy Vehicle Industry Development Plan.'

Q1 Financial Reports of 20 International Auto Parts Suppliers: Revenue Broadly Up; Magna and Lear Net Profits Double

BASF: Net Profit Nearly Doubles In Q1 2021, BASF’s sales rose 16% year-on-year to €19.4 billion, driven by higher product prices and increased volumes. EBIT before special items climbed 42% to €2.3 billion, while net profit surged 94% to €1.718 billion. Net cash flow improved by 39% to -€981 million. Notably, profits in BASF’s Surface Technologies division rose sharply, benefiting from the recovery of global automotive production. At its virtual Annual General Meeting, Dr. Martin Brudermüller, Chairman of the Board of Executive Directors of BASF SE, stated: 'We started 2021 strongly, carrying forward the robust business performance we achieved in Q4 2020.' Based on Q1 sales and profit figures, stronger-than-expected global economic recovery, and higher raw material prices, BASF revised upward its full-year 2021 outlook originally published in its 2020 annual report. The company now forecasts 2021 sales of €68–71 billion (previously €61–64 billion) and EBIT before special items of €5.0–5.8 billion (previously €4.1–5.0 billion). Continental: Q1 Sales Reach €10.3 Billion Continental Group reported Q1 sales of €10.3 billion, up 3.5% year-on-year; net income reached €448 million, up 53.1%. Dr. Nikolai Setzer, CEO of Continental AG, commented: 'Operationally, we had a strong start to the fiscal year, with particularly outstanding performance in our China business.' Breaking down performance by subgroup: The Automotive group’s Q1 sales declined 2.2% year-on-year to €4.1 billion. However, order intake across the group continues to rise—for instance, orders for fully connected central high-performance computing units have reached approximately €5 billion, with related products already deployed in Volkswagen’s ID.3 and ID.4 models, as well as the Chinese-market ID.6. The Rubber group performed well, especially in China and North America, achieving Q1 sales of €4.2 billion—a 6.6% increase—and an adjusted EBIT margin of 14.5%. The Powertrain group also delivered solid results, posting Q1 sales of €2.0 billion (up 3%) and an adjusted EBIT margin of 3.8%. Growth was fueled by electrification-related businesses, including innovative high-voltage components that secured orders worth several hundred million euros. Nonetheless, amid a complex and volatile global market environment, Continental remains optimistic about overall automotive market performance in 2021. Its financial report forecasts a 9–12% year-on-year increase in global passenger car and light commercial vehicle production for the fiscal year. Additionally, the report notes that the company’s major restructuring initiatives remain on track. Per the latest shareholder resolution, Vitesco Technologies will be spun off as scheduled in September 2021; effective January 1, 2022, Continental will operate its 'Autonomous Driving & Mobility' and 'Safety' divisions as two independent business units. Dr. Setzer added: 'These structural adjustments will provide us with clear direction and greater flexibility in formulating differentiated, diversified strategies. In advanced driver assistance and autonomous driving, we will systematically focus on growth and future-oriented technologies; in safety, our priority will be value creation.'

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