On December 6, DRiV, the world's leading automotive aftermarket and ride performance supplier, announced that the company's Asia-Pacific headquarters in Yangpu District, Shanghai, officially opened and began operations. This will help the company achieve larger and faster development in the Asia Pacific region, especially in China. Dr. Drewway Global CEO Mr. Brian Kesseler, Deputy Director of Yangpu District, Mr. Zhao Liang, Consul General of the United States in Shanghai, Mr. Tan Sen, Dr. Drewwell Global Executive Vice President and President of Asia Pacific Jiang Kongke and other important guests at the opening ceremony to witness this important event. time.
DRiV Asia Pacific Headquarters Opens, Drayway, Automotive Aftermarket
From left to right: Mr. Sun Zhaolang, Economic Consul in Shanghai, Mr. Jiang Kongke, Executive Vice President of Drayway Global and President of Asia-Pacific Region, Mr. Brian Kesseler, Global CEO of Drayway, Mr. Tan Sen, Consul General of the United States in Shanghai, and Deputy District of Yangpu Mr. Zhao Liang, Mr. Gong Shunming, Director of Commercial Committee of Yangpu District
Comprehensive multi-party advantages
DRiVwas established by Tenneco Investment. Tenneco is one of the world's leading designers, manufacturers and marketers of driving performance and clean air products and technology solutions for a variety of markets. On October 1, 2018, Tenneco completed the acquisition of Federal-Mogul, a leading global OEM and aftermarket supplier. After the acquisition, Tenneco reorganized and split the group's overall business and established two independent listings the company. In 2019, Tenneco officially announced that among the two new companies, the company focusing on automotive powertrain technology retains the name of "Tenneco" and the company focusing on aftermarket and driving performance technology is "DRiV" Also known as Drayway.
In addition to the acquisition of Federal-Mogul, Tenneco also announced the acquisition of Öhlins in November 2018. Öhlins is a Swedish technology company that develops high-quality suspension systems and components for the automotive and racing industries. Öhlins' joining Tenneco will accelerate the development of its advanced original equipment (OE) smart suspension solution while also accelerating its time to market. With the separation and reorganization of Tenneco, the Öhlins team has now become an important part of Drayway. Its high-quality OE series and aftermarket automotive and racing performance products will also strengthen Drayway's product strength.
Based on the combined advantages of Tenneco, Federal-Mogul, and Öhlins, Drayway has divided its business into two major segments: First, aftermarket (Motorparts). The business focuses on developing, manufacturing and distributing a wide range of products in the global automotive aftermarket, including vibration and struts, steering and suspension, braking, sealing, engines, emissions and maintenance. The second is the original equipment business (Ride Performance), which mainly develops, manufactures and supplies shock absorbers, NVH high-performance materials and brake pads for leading global original equipment manufacturers.
DRiV Asia Pacific Headquarters Opens, Drayway, Automotive Aftermarket
Brian Kesseler, CEO of Drayway Global
Mr. Brian Kesseler, Global CEO of Drayway, said: "DRiV has a scale of more than 6 billion U.S. dollars and is one of the world ’s largest multi-product line, multi-brand aftermarket supplier, and one of the largest original equipment driving performance suppliers. , Manufacturing, and distribution of various products for light vehicles, commercial vehicles and other mobility markets, the company has a solid foundation from the Ford T-model era to the E-type new energy vehicle era, and 31 very well-known and respectable Aftermarket brands, including Champions, Monroe, Firodo, Mago, and 14 other brands with more than 100 years of history. "
Leading brands and product portfolios, huge global business scale and long-term cooperation with the world's top manufacturers provide Drayway with a unique competitive advantage. DRiV is fully capable in the Americas and Europe, the Middle East and Africa ( ") And fast-growing emerging markets in the Asia-Pacific region, especially China, to achieve sustained growth.
Next, DRiV is committed to improving the driving experience through cutting-edge technology and high-performance solutions, providing the company's aftermarket and mainframe customers with innovative technology, superior quality and unparalleled service. The company has more than 31,000 employees in 25 countries and regions around the world. Drayway will promote outstanding driving performance improvement through teamwork and help customers enjoy every vehicle, every driving, every performance Competition, every trip.
Increase investment in China to win more market share with "new strategy"
Although the growth of China's automobile production has slowed in the past two years, it is undeniable that China's automobile market still has a lot of room for development and potential. It is also worth noting that in 2015, the average age of Chinese cars was below 5 years, and it is expected to increase to 6.7 years by 2025, which is expected to bring sustained and significant growth in the Chinese aftermarket.
DRiV sees China as an important global business growth engine and has invested heavily in China since the company was founded in 2018. The selection of Drayway's new Asia-Pacific headquarters in Yangpu, Shanghai also reflects Drayway's determination to deeply cultivate the Chinese market. In the next few years, Drayway will have other investments in China to improve the company's capabilities in commercial operations, technology and manufacturing development.
DRiV Asia Pacific Headquarters Opens, Automotive Aftermarket
Mr. Jiang Kongke, Executive Vice President and President of DRiV Asia Pacific
Mr. Jiang Kongke, Executive Vice President of Drayway Global and President of Asia Pacific, said: "About our investment planning in the Chinese market, first of all, we have built a new Changzhou plant with original supporting business; in addition, another 6 months, We will also start construction of a new plant for the aftermarket business in the surrounding areas of Shanghai. In addition, we are also deploying new plants related to the brake business in Wuhan and Chongqing. In short, Draywell will gradually increase production capacity in accordance with market demand. investment."
In fact, DRiV has a deep foundation in the Chinese automotive market. Both traditional Tenneco and Federal-Mogul entered the Chinese market earlier, and both are strong global aftermarket players. Prior to the split, Tenneco China headquarters was located in Shanghai. Its China R & D center has become one of Tenneco's three largest R & D centers in the world. The strength of the R & D team is comparable to that of the US and German teams. Established in Shanghai to provide technical services to customers in China and Asia. The two companies already have rich product technology portfolios, mature market experience, and relatively complete production capacity and channel layout in China. DRiV combined the advantages of both parties to further strengthen the company's strength in China.
At present, DRiV has one technical center in Beijing and Chongqing, two production factories in Pinghu and Wuhan, and logistics centers in Kunshan, Tianjin, Guangzhou and Shanghai. DRiV has a strong and diversified product line portfolio. Products include engine parts, seals, chassis parts, brake products, filters, shock absorbers, emission products, ignition systems, ignition coils, batteries, filters, Chemicals, etc., while serving the host and after-sales customers, also provide excellent differentiated products for ordinary consumers.
In terms of channels, in addition to offline channels, DRiV has established B2C full-channel coverage including B2C channels such as Land Rover, JD.com, and Tmall, and will participate in B2B channels. At the same time, Drayway also provides online authorization for its Taobao dealers. The company will create and launch more new products and innovative services for online and offline customers, respectively.
In the future, DRiV will continue to work in the Chinese market. It will develop the Chinese market through the combination of sales and channel investment, product line and coverage, the combination of host background and brand influence, and the rapid release of new brake products. By expanding brand influence , Channel penetration, and logistics and distribution capabilities boost China's business.
About DRiV
Following the expected separation of Tenneco (NYSE: TEN) into two new independent companies, an aftermarket and ride performance company (DRiV) and a new powertrain technology company, Drewe It will become one of the world's largest multi-product line, multi-brand aftermarket companies, and one of the world's largest original supporting driving and braking companies. Drayway's main product brands include Monol®, Öhlins®, Walker®, Clevite® Elastomers, Mago®, Fel-Pro®, Wagner®, Filodo®, Champions®, etc. Drayway's expected total business in 2018 is US $ 6.4 billion, of which 54% comes from the aftermarket and 46% comes from original supporting customers.