DETROIT AND SHENZHEN, China GlobalAutoIndustry.com and Shanghai KOWIN Automotive Components Co., Ltd., the global sourcing division of Chery Automotive Co., have signed a letter of intent to form a partnership that will create what the two companies claim will become the world’s largest online business-to-business automotive sourcing portal. The portal will allow automotive industry buyers and sellers worldwide to interact and perform commercial transactions online. The organizations expect to sign the formal agreement during the Beijing Auto Show this November.
“Partnering with KOWIN/Chery offers the opportunity to connect global OEM and aftermarket buyers with the high-quality Chinese suppliers they are looking for, as well as the potential to bring economic opportunity to the local automotive industry,” said Michael DaMour, senior vice president, Global Business Development at GlobalAutoIndustry.com. “Working with KOWIN and their parent company, Chery Automotive, will not only guarantee access to top quality suppliers in China but also provide a high amount of support and value in China’s booming automotive industry.”
The portal also will allow participating companies to post the necessary information for completing transactions, including RFQ’s, specifications, drawings and parts catalogs. It also offers secure information management, including e-mail, web meeting capability, 24-hour customer service/help desk, buyer and seller databases and other automotive-related resources. The portal will also offer latest information, analysis and professional viewpoints. Additionally, the portal will provide offline activities including training, certification and purchasing events, all while promoting business between countries around the world.
“Sourcing from emerging markets, especially China, has become imperative for most players in mature automotive markets,” said Kevin Chen, CEO of Shanghai KOWIN Automotive Components Co. Ltd. “With thousands of suppliers in China, and varying terms of quality and service capability, it creates significant challenges for global buyers to find appropriate suppliers in China. The creation of this portal will help to accelerate that process.”