Home retail giant Haier rumored to acquire car media platform Autohome

['Technode Feed', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar', 'Vertical-Align Middle .Wp-Block-Co-Authors-Plus-Avatar Is .Alignleft .Alignright'] TechNode 2024-11-20 00:00:00

Haier Group is reportedly planning to acquire a controlling stake in Autohome, and initiate layoffs of up to 30% by January. Haier’s control is expected to bring significant changes to Autohome’s management and retail team. Rumors about Haier entering the car industry have circulated since August 2022, when reports suggested the company was exploring OEM manufacturing. Industry analysts speculate the acquisition could address challenges in Haier’s appliance business and Autohome’s competition in the media sector. Autohome’s Q3 revenue reached RMB 1.77 billion ($24.4 million), up 3.1%, driven by a 54% growth in advertising income from new energy brands.