The result of two previous acquisitions by Chinese auto makers so far - Nanjing Automobile corp's acquisition of the British brand Rover, and SAIC's acquisition of South Korea's Ssangyong - have all fallen short of their original goals.
Zhang Jingdong said, "It might be an opportunity for Chinese enterprises in terms of the current external market environment. But if they are not fully prepared for international acquisitions, such opportunities may also turn into pitfalls."
Analysts say it's important for Chinese auto makers to have a sober understanding of their strengths and weaknesses. China may well become the world's biggest market and manufacturing base of vehicles in the next decade. But there's still a long way to go before the country becomes a global auto power.
(CCTV June 4, 2009)
