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Jiangling Motors

From Wikipedia, the free encyclopedia

Jiangling Motors Corporation Limited
Public limited company[citation needed]
Traded asSZSE: 000550
IndustryAutomotive
PredecessorJMCG truck production division
Founded1993
Headquarters,
China
Key people
  • Tiangao Qiu (Chairman)
  • David Schoch (Vice Chairman)
  • Thomas Fann (President)
ProductsAutomobiles
Production output
Decrease 286,808 (2018)[1]
RevenueDecrease CN¥28.25 billion (2018)[1]
Decrease CN¥-145.186 million (2018)[1]
Decrease CN¥91.83 million (2018)[1]
Total assetsDecrease CN¥23.40 billion (2018)[1]
Total equityDecrease CN¥10.38 billion (2018)[1]
Owners
  • Nanchang Jiangling Investment Co., Ltd. (41.03%)[note 1]
  • Ford Motor Company (32%)
  • China Securities Corporation Limited (2.72%)
  • Shanghai Gao Yi Asset Management Partnership (L.P.) (1.74%)
[1][2][3]
Number of employees
16,865
DivisionsJMC Yusheng
SubsidiariesJMC Heavy Duty Vehicle
Chinese name
Simplified Chinese江铃汽车股份有限公司
Traditional Chinese江鈴汽車股份有限公司
Websitewww.jmc.com.cn/en

Jiangling Motors Corporation Limited, abbreviated JMC, is a Chinese automobile manufacturer. According to company and press reports, the largest shareholder of JMC is Jiangling Investment, a company controlled equally by the state-owned enterprises Changan and Jiangling Motors Corporation Group (JMCG).[2][3]

History

The history of Jiangling Motors Corporation (JMC) can be traced to a truck repair shop opened in Nanchang in 1947 which operated under the name Nanchang Motors Repair Factory. A JMC predecessor started assembling vehicles in 1968. The company was granted the approval of Jiangxi Province Economic Restructuring Commission to be reorganized to establish a joint stock limited company on February 20, 1993. JMC A shares and B shares were listed on Shenzhen Stock Exchange on December 1, 1993 and September 29, 1995, respectively.[citation needed]

In the 1990s, Ford lost a bid against American rival General Motors for getting a joint venture deal with the Chinese manufacturer SAIC Motor.[4] In 1995, as part of its push for getting new Chinese partners, Ford acquired B shares equivalent to a 20% equity in JMC, becoming the second-largest shareholder.[5][6] In 1996, JMC began selling its products in overseas markets, initially Egypt and the Middle East. In 1997, JMC and Ford started the production of their first joint product, the Ford Transit, with JMC supplying various key components (as engines and axles)[6] and Ford the design. In 1998, after JMC issued additional B shares, Ford upped its stake to 30%.[5][6] In 2013, Ford purchased more B shares, increasing its stake to over 30%.[7]

In late 2010, Jiangling released the first passenger vehicle of JMC under the newly launched JMC Yusheng sub-brand, the Yusheng S350 SUV.[8]

In 2013, JMC reorganised the heavy truck manufacturer Changan Taiyuan as a wholly owned subsidiary named JMC Heavy Duty Vehicle.[9]

Production

Production bases

JMC produces vehicles under the JMC, JMC Yusheng and Ford brands. It has assembly plants around Nanchang (at Qingyunpu and the Xiaolan Economic Zone).[10][11] JMC is also building a new energy vehicle plant (the Fushan plant) in the Xiaolan Economic Zone. JMC Heavy Duty Vehicle has a single assembly facility in Taiyuan.[10]

Products

JMC (Jiangling)

A brand mainly for commercial vehicles

A JMC Teshun photographed in Shanghai, China
A JMC Teshun photographed in Shanghai, China
A JMC Boarding photographed in Cancun, Mexico
A JMC Boarding photographed in Cancun, Mexico
A JMC Yusheng photographed in Shanghai, China
A JMC Yusheng photographed in Shanghai, China
A JMC Yunba photographed in Dandong, China
A JMC Yunba photographed in Dandong, China

Yusheng

A brand for passenger vehicles.

Licensed Ford production

New energy vehicle

  • Yusheng S330 EV/PHEV (proposed)


See also

Notes

  1. ^ Jiangling Investment is an equally-owned holding whose ultimate controllers are the Nanchang State-owned Assets Supervision and Administration Committee and the SASAC.

References

  1. ^ a b c d e f g "Jiangling Motors Corporation, Ltd. 2018 Annual Report" (PDF). JMC. pp. 8, 28, 30, 55–57. Retrieved 16 May 2019 – via Shanghai Oriental Fortune Securities Research Institute.
  2. ^ a b Jian, Jianru (30 May 2019). Zhang, Bei (ed.). "江铃汽车和长安汽车共同成立投资公司 注册资本10亿元" [Jiangling Group and Changan Automobile jointly established an investment company with a registered capital of 1 billion yuan]. nbd.com.cn (in Chinese). Retrieved 7 June 2019.
  3. ^ a b Xing, Lei (6 June 2019). "AIWAYS Acquires 50 Percent Stake In Jiangling Holding For Nearly ¥1.75 Billion". China Automotive Review. Retrieved 7 June 2019.
  4. ^ Gallagher, Kelly Sims (2006). China Shifts Gears: Automakers, Oil, Pollution, and Development. MIT Press. p. 80. ISBN 9780262072700. Jiangling Transit Ford.
  5. ^ a b Moser, Michael J.; Yu, Fu (2014). Doing Business in China. Juris Publishing. ISBN 9781578231553.
  6. ^ a b c Luo, Yadong (2000). How to Enter China. University of Michigan Press. p. 300, 303. ISBN 9780472111886.
  7. ^ Yan, Fang; Takada, Kazunori (17 April 2013). "Ford raises stake in China's Jiangling Motors". Reuters. Retrieved 1 February 2019.
  8. ^ "JMC, a Ford Partner, Releases First Passenger Car–Yusheng SUV". ChinaAutoWeb.com. 5 December 2010.
  9. ^ "江铃重汽" [Jiangling Heavy Vehicle]. 360che.com (in Chinese). Retrieved 4 April 2019.
  10. ^ a b "公司简介" [Company profile] (in Chinese). JMC. Retrieved 14 October 2019.
  11. ^ "Short Torque". China Daily. 20 December 2010.

External links

This page was last edited on 4 March 2020, at 12:02
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