Research On The Development Strategy For ZhongFu Auto Parts Co.LTD

The automotive industry has always been the embodiment of a country’s industrial strength,the manufacturing capacity,assembly capacity and technology development capacity of a country’s industry.The automobile industry is both labor-intensive and an important pillar industry of the country,which can absorb a large number of laborers,and technology-intensive,with high and new technologies in many fields being applied to the automobile industry as a priority.Therefore,the prosperity of the automobile industry will largely drive the rapid development of various industries.But because China experienced World War II,resulting in China’s pace of industrialization lags behind that of Europe and the United States and other countries,the United States in the nineteen fifties has more than 8 million car production,but China’s industry at that time in a poor state,so with the support of the Soviet Union,the first car manufacturing out of 1953 in Changchun,representing the official launch of the new Chinese automotive industry.In the course of nearly 60 years of development,China has become the world’s largest automobile consumer market,but due to the late start,most of the key technologies of internal combustion engines have been controlled by Europe and the United States and other countries,especially the large displacement passenger car internal combustion engine,the current domestic only FAW Hongqi an enterprise can do self-research and self-production.For this reason,China formulated in 2015 to develop new energy vehicle research and development and manufacturing as a breakthrough to promote and guide the transformation of China’s auto industry from traditional fuel vehicles to new energy vehicles,so as to break the line of foreign technology blockade on Chinese car companies,and strive to achieve a bend in the auto industry.Ltd.is an auto parts company established in 2004,focusing on the production and assembly of passenger car chassis,whose customers are mainly FAW-Volkswagen and SAIC-Volkswagen.In the face of the current rampant new energy brands in the passenger car market,joint venture brands have shown a losing trend in market share,especially in the field of new energy vehicles.At present,in the field of new energy vehicles,Tesla and BYD in the market two tigers fighting each other,other brands can only participate in the competition of market segments.The two main customers of Zhongfu Auto Parts Co.,Ltd.are Sino-German joint ventures,which are slow to respond in the new energy vehicle market,and the ID series of pure electric new energy vehicles launched are not loved by consumers,with only 190,000 units delivered in2022 in the country,ranking only about 15 on the new energy vehicle sales list,not back to the glory of the traditional fuel car period.Therefore,the company’s development prospects are facing greater challenges and sales expectations are not optimistic.With the booming development of new energy vehicles,the company should step out of its comfort zone,open up new markets for new customers,formulate new development strategies and clarify its development goals so as to ensure that the company can develop sustainably in the auto parts field.The thesis takes Zung Fu Auto Parts Co.,Ltd.as the subject of the study,and uses the theory about development strategy management to understand the development status of the industry in which the company is located as well as the problems faced by the company itself and the root causes of the problems from the conversations of the company’s managers,executives and bottom-level employees.Using the PEST analysis method,the company’s strengths,weaknesses,and opportunities and crises were analyzed using the IE matrix with Zung Fu Auto Parts Company as the research object.According to the above research results,the development strategy of Zongfu Company was formulated,namely: the company will try to increase the number of customers,actively reach a cooperative relationship with domestic brands,increase the investment in chassis technology research and development,set specific goals for the short-,medium-and long-term strategic development of the company according to the specific situation of the company,give full play to the advantages of both shareholders,carry out the establishment of the supplier system,carry out new technologies such as wirecontrolled chassis and We will make full use of the advantages of both shareholders to establish a supplier system,carry out research and development of new technologies such as wire-controlled chassis and electric motor drive shaft,improve the technology and development level of the company,increase the product categories of the company,and promote the sustainable development of the company.On this basis,we provide effective countermeasures for the development of the company from several perspectives,such as the construction of human resources,the construction of corporate culture,the construction of financial system,the construction of information system and the construction of corporate organization structure.