Jiangnan Automobile

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Hunan Jiangnan Automobile Manufacturing Co., Ltd. (Chinese: 湖南江南汽车制造有限公司; pinyin: Húnán Jiāngnán Qìchē Zhìzào Yǒuxiàn Gōngsī), commonly known as Jiangnan Automobile (Chinese: 江南汽车; pinyin: Jiāngnán Qìchē) was a Chinese automobile manufacturing company established in 2001 and majority owned by Zotye from 2007 onwards, headquartered in Xiangtan. It went bankrupt and entered reorganisation in 2021.

History

The company was officially established in 2001 by the Jiangnan Machinery Group, a subsidiary of the state-owned enterprise Norinco.[1] Zotye acquired a stake in Jiangnan Automobile between 2006[2][unreliable source?] and 2007,[2][3] reorganising it in March 2007. Zotye took a 70% controlling stake[1][3] while the Jiangnan Machinery Group kept a minority 30%.[1] The aim of the Zotye acquisition was to get various production permits from the government.[2][4] The company's production, initially focused on assembling Suzuki Alto-based vehicles, was relaunched in April 2007,[2][3] later also adding Fiat-based models.[4] Jiangnan Automobile assembled mostly Zotye-badged cars such as the Jiangnan TT,[2] the Zotye Z100,[5] the Zotye Z300, the Zotye 5008, the M300, the Zotye Z200HB,[1] the Zotye Yun 100[6] and others.[1]

In November 2021, the company filed for "bankruptcy and reorganisation"[7] as part of a wider restructuring by parent Zotye in order to try stopping its own bankruptcy and liquidation.[8]

According to the Organisation Internationale des Constructeurs d'Automobiles, in 2012 Jiangnan Automobile was ranked as the 40th manufacturer of motor vehicles by number produced, with 117,051.[9]

References

  1. ^ a b c d e "湖南江南汽车" [Hunan Jiangnan Automobile]. shujubang.com (in Chinese). Retrieved 11 May 2019.
  2. ^ a b c d e "业绩持续下滑 众泰的拿来主义和自主研发都输了？" [The performance continued to decline. Zotye's take-up, independent research and development have been lost?]. sohu.com (in Chinese). Retrieved 11 May 2019.
  3. ^ a b c Chow, Namrite; Ciferri, Luca (11 July 2007). "Small Zotye to make Fiat cars". Automotive News China. Retrieved 12 May 2019.
  4. ^ a b Chow, Namrite (2 April 2008). "Zotye to produce Fiats under own brand". Automotive News China. Retrieved 12 May 2019.
  5. ^ "The Cheapest Car Gets a Makeover: Official Pics of Zotye Z100". ChinaAutoWeb. Retrieved 11 May 2019.
  6. ^ "湖南江南汽车制造有限公司召回部分众泰云100汽车" [Hunan Jiangnan Automobile Manufacturing Co., Ltd. recalled some Zotye Yun (Cloud) 100 cars]. sina.com (in Chinese). 3 September 2018. Retrieved 11 May 2019.
  7. ^ Zhang, Xuelian (5 November 2021). "众泰关联公司 江南汽车被申请破产重组" [Zotye's affiliated company Jiangnan Automobile has filed for bankruptcy and reorganisation]. autohome.com.cn (in Chinese). Retrieved 5 November 2021.
  8. ^ Jiang, Ninglu (27 October 2021). "众泰汽车发布重整计划草案 下属8家破产子公司纳入清偿范围" [Zotye released the draft for its reorganisation plan and included eight bankrupt subsidiaries in the scope of settlement]. finance.ce.cn (in Chinese). Retrieved 5 November 2021.
  9. ^ "WORLD MOTOR VEHICLE PRODUCTION OICA correspondents survey WORLD RANKING OF MANUFACTURERS Year 2012" (PDF). www.oica.net. International Organization of Motor Vehicle Manufacturers. Retrieved 4 August 2014.
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