The PSA Group enters the share capital of the largest Chinese auto parts distributor
After Jian Xin at the beginning of the year, the PSA Group further strengthened its position on the Chinese market by joining the share capital of UAP Auto Union, China's largest auto parts distributor.
This equity acquisition is the first step towards the potential acquisition of a major stake in the capital of UAP.
PSA has the ambition to acquire a strong position on the Independent Aftermarket market in China, through its distributors JX and UAP, its DPCA joint-venture and commercial agreements such as the one with YouErKuai in Guangzhou.
Thanks to UAP, the French Group will have access to a competitive and efficient distribution system in line with the most advanced market standards.
The goal is to accelerate the increase in sales of its multi-brand spare parts, including those of the new Eurorepar range developed by Groupe PSA for the Chinese market.
The second pillar of PSA's multi-brand Aftermarket strategy, after the distribution of spare parts, has become the world's leading repair company with the Euro Repar Car Service network.
This network already has more than 350 workshops across China. UAP will contribute strongly to its expansion with its existing customer base.
The PSA Group has the ambition to reach 4,000 Euro Repar Car Service workshops by 2023 in China and 10,000 worldwide.