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Gestamp, one of the world’s top manufacturers of metal parts for cars, is pursuing acquisition opportunities in China’s automotive sector, where an excess of capacity threatens unprofitable assemblers and supply-chain vendors.
The Spanish company, which supplies chassis and body products for clients like Volkswagen and Ford, is bucking the trend among international automotive firms that are disposing of their facilities in the world’s largest vehicle market amid fierce competition.
“Not every company in China’s automotive industry is profitable today, so we think that in the future, there may be some consolidations,” Francisco Jose Riberas Mera, executive chairman of Gestamp, told the Post at the Shanghai Auto Show. “We could be a very active player. We are open to any kind of cooperation here.”
The manufacturer, which has 13 plants and two research and development (R&D) centres in mainland China, is designing and developing technologies that prioritise safety and low weight as the local car market moves rapidly towards electric vehicles (EVs), he added.
Mera’s stance represents a rare strategy among foreign carmakers and component suppliers, as they lose ground to home-grown rivals while falling victim to a brutal price war.
“We want to invest more, grow more, and also develop more strong relationships with Chinese car assemblers,” Mera said. “We want not only to be their partners here in China, but also their partners when they open plants abroad.”
