[News] Volkswagen | the first to close the German factory, cancel the promise of no layoffs, the situation is tense!   Under the pressure of fierce competition from China's electric vehicle industry, the world's number two automaker - Volkswagen Group is now facing unprecedented challenges.   The Volkswagen Group is evaluating the possible closure of its plants in Germany. The chief financial officer of the Volkswagen Group, Arnaud Antelitz, is scheduled to address employees at a works council meeting on the morning of September 4, along with the CEO of the Volkswagen brand, Thomas Schaefer.       Although shares in the Volkswagen Group rose on the news, rising 1.2 percent, they have lost nearly a third of their value over the past five years, making them the worst performer among major European automakers.   Earlier, analysts had expected that Volkswagen Group might consider closing its plants in Osnabruck, Lower Saxony, and Dresden, Saxony. It is worth noting that Lower Saxony is also one of the important shareholders of the Volkswagen Group.   "The circumstances are too serious to address the challenges we face with simple cost-cutting measures," Mr Schaefer said bluntly in his public statement. He stressed that the Volkswagen Group is feeling increasing price competition pressure from Chinese rivals.   Antelitz also added that as the results of the first half of 2024 did not meet the company's expectations, the group will need to take more stringent cost-cutting measures in the second half of the year in order to meet its annual targets. The Volkswagen brand will be the first to implement cost cuts, aiming to save up to 10 billion euros, or about 78.6 billion yuan, by 2026.   In addition, while considering plant closures, the Volkswagen Group may have to abandon its 30-year no-layoff policy.   The looming crisis PART 1 The announcement of the possible domestic plant closures comes a month after Volkswagen Group released a poor financial report for the first half of 2024. Although the company officially described it as a "stable performance in a difficult environment", it actually hid a lot of crises.   In the first half of 2024, the Volkswagen Group's revenue reached 158.8 billion euros, equivalent to about 1.25 trillion yuan, an increase of 1.6% compared with the same period last year. However, its operating profit was only 10.05 billion euros, or about 79.14 billion yuan, down 11.4 percent from the same period last year. The operating margin also fell by 1 percentage point from 7.3 per cent to 6.3 per cent. Pretax profit was 10.16 billion euros, or about 80 billion yuan, down 14.6 percent from a year earlier; Free cash flow from the automotive business was 4.99 billion euros, or about 39.28 billion yuan.       The decrease in vehicle sales is the main reason for the decline in the results of the Volkswagen Group in the first half of 2024: in the first half of the year, th...

In this era of globalization, Aichie Electronics Technology Co.,Ltd has always adhered to the values of "Professional, Faster and Innovative", constantly expanded its international vision, and actively sought development opportunities in overseas markets. Today, we are very excited to announce that Aichie Electronics Technology Co.,Ltd officially established Aichie Technology Co.,Ltd Company in Vietnam on July 10, 2024, which marks another solid step in Aichie globalization strategy!   I. Background of the establishment of Wire Harness Manufacturer in Vietnam As one of the important economies in Southeast Asia, Vietnam has achieved rapid economic development in recent years, especially in the fields of manufacturing, information technology and e-commerce. At the same time, the Vietnamese government is actively promoting economic opening and international cooperation, providing a good investment environment and policy support for enterprises. In this context, Aichie Electronics Technology Co.,Ltd chose to set up a branch in Vietnam to further expand the Southeast Asian market, strengthen ties with local businesses and consumers, and promote the continued growth of the company's business.   II. Development Plan of AichieTechnology Co.,Ltd Aichie Technology Co.,Ltd Vietnam will rely on the company's core technological advantages in the industries of wiring harness, wire and cable, connectors, injection molded cables and cable assemblies to provide local customers with high-quality wiring harness technology solutions, services and development of the wiring harness manufacturing industry. Through localized operations, we will have a deep understanding of the needs and characteristics of the Vietnamese market, and constantly optimize wire harnesses, wire and cable products and services to meet the diversified needs of our customers. At the same time, we will also strengthen close cooperation with local partners to jointly promote the development of Wire Harness industry in Vietnam.   III. Global strategic Layout The establishment of the Vietnam factory is an important part of Aichie Electronics Technology Co.,Ltd's global strategic layout. In the future, we will continue to increase investment and layout in the international market, and constantly expand new business areas and market channels. We will adhere to the concept of "Quick Response, Exceeding Wxpectations", and strive to become the world's leading wire harness solution service provider.   IV. Looking to the future The establishment of Aichie Technology Co.,Ltd in Vietnam will bring new opportunities and challenges for the company. We will actively respond to market changes and challenges with a more open mind and a more pragmatic style, and continue to enhance the company's core competitiveness and market share. We believe that with the joint efforts of all employees, Aichie Electronics Technology Co.,Ltd Vietnam branch will ush...

The EU has always been committed to green and environmental protection, such as the pursuit of electronic products interface unity, and the big red USB-C is obviously the best choice at present, so the EU decided to pass a decree so that all electronic products must use USB-C interface, the deadline is 2023, and by 2024, the EU finally announced the law into effect. All electronic products sold in the EU must use the USB-C interface. The European Commission said on social media that through unremitting efforts, the USB-C interface will become the standard of electronic products in 2024, which we believe means better charging standards, cable waste will be greatly reduced, and everyone will be more convenient to find a charger. The EU says that in the future, all USB-C chargers should be able to charge electronic devices with USB-C ports without compatibility issues. In this EU list, including mobile phones, tablets, digital cameras, headphones, game consoles, e-books, keyboards, mice, mobile GPS and other devices must use USB-C interface, and by 2026, all laptops must use USB-C interface. The EU's move to unify all its interfaces is a huge step forward. After all, in the past due to the immaturity of technology, there were dozens of interfaces on the market, and later with the rise of USB, basically Micro-USB, Apple lighting and Type-C have become the three major universal interfaces, and Micro-USB is almost eliminated, the remaining biggest resistance is Apple lighting interface. For the EU move, Apple expressed strong opposition, saying that the unified interface will only erase personality. Of course, the huge market of the European Union has also made Apple have to lower its head and adopt the Type-C interface in the iPhone 15 Pro, and with the landing of this bill, we can casually find a Type-C line in the future to achieve charging and data transmission of digital products.   Aichie Tech is specialized in the production and processing of various types of wire harnesses, such as: Type-C wire, new energy wire harnesses, robot wire harnesses, industrial equipment wire harnesses, injection molding wire harnesses, etc. The factory introduced automation equipment, and passed the ISO9001, ISO13485,IATF16949 and other treatment system certification; Aichie for UL, CUL listed companies, to provide customer product protection, reliable quality and competitive prices, welcome to consult! sales03@aichie.com