Jiangling Motors

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Jiangling Motors Corporation Limited
TypePublic limited company[citation needed]
SZSE: 000550
IndustryAutomotive
PredecessorJMCG truck production division
Founded1993
Headquarters,
China
Key people
  • Tiangao Qiu (Chairman)
  • David Schoch (Vice Chairman)
  • Thomas Fann (President)
ProductsAutomobiles
Production output
Increase 336,315 (2020)[1]
RevenueIncrease ¥33.09 billion RMB (2020)[1]
Increase ¥0.61 billion RMB (2020)[1]
Increase ¥0.55 billion RMB (2020)[1]
Total assetsIncrease ¥28.18 billion RMB (2020)[1]
Total equityIncrease ¥10.99 billion RMB (2020)[1]
Owners
[1][2][3]
Number of employees
16,865
DivisionsJMC Yusheng
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

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[edit]

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.[6] As of 2021, the largest overseas market by volume for JMC is Chile.[7] 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%.[8]

In late 2010, Jiangling released the first passenger vehicle of JMC under the newly launched JMC Yusheng sub-brand, the Yusheng S350 SUV.[9]

In 2013, JMC reorganised the heavy truck manufacturer Changan Taiyuan as a wholly owned subsidiary named JMC Heavy Duty Vehicle.[10] In mid-2021, JMC Heavy Duty Vehicle was sold to Volvo Trucks.[11]

In December 2021, JMC and Ford established a Shanghai-based joint venture focused on the production of passenger cars. The venture is called Jiangling Ford Motor Technology (Shanghai) Company (Jiangling Ford). JMC owns a 51% and Ford a 49% of its stake.[12]

Production[edit]

Production bases[edit]

JMC produces vehicles under the JMC, JMC Yusheng and Ford brands. It has assembly plants around Nanchang (at Qingyunpu and the Xiaolan Economic Zone).[13] JMC also has a new energy vehicle plant (the Fushan plant) in the Xiaolan Economic Zone.[14]

Products[edit]

JMC (Jiangling)[edit]

A brand mainly for commercial vehicles

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

Yusheng[edit]

A brand for passenger vehicles.

Licensed Ford production[edit]

New energy vehicle[edit]

  • Yusheng S330 EV/PHEV (proposed)

See also[edit]

Notes[edit]

  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[edit]

  1. ^ a b c d e f g "Jiangling Motors Corporation, Ltd. 2020 Annual Report" (PDF). JMC. pp. 4, 11, 40–42, 75–77. Retrieved 27 April 2021 – via Sohu.
  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 978-0-262-07270-0. Jiangling Transit Ford.
  5. ^ a b Moser, Michael J.; Yu, Fu (2014). Doing Business in China. Juris Publishing. ISBN 978-1-57823-155-3.
  6. ^ a b c d Luo, Yadong (2000). How to Enter China. University of Michigan Press. pp. 300, 303. ISBN 978-0-472-11188-6.
  7. ^ "JMC's sales in Chile jumped 300% YoY in 2021". China Trucks. 27 December 2021. Retrieved 22 February 2022.
  8. ^ Yan, Fang; Takada, Kazunori (17 April 2013). "Ford raises stake in China's Jiangling Motors". Reuters. Retrieved 1 February 2019.
  9. ^ "JMC, a Ford Partner, Releases First Passenger Car–Yusheng SUV". ChinaAutoWeb.com. 5 December 2010.
  10. ^ "江铃重汽" [Jiangling Heavy Vehicle]. 360che.com (in Chinese). Retrieved 4 April 2019.
  11. ^ Zhang, Yushuo (24 August 2021). "Volvo buys Jiangling Motors' unit to start making heavy-duty trucks in China". Yicai Global. Retrieved 22 February 2022.
  12. ^ "江铃福特共同成立汽车新公司 注册资本2亿" [Jiangling and Ford jointly established a new automotive company with a registered capital of ¥200 million RMB]. Caijing (in Chinese). 28 December 2021. Retrieved 22 February 2022.
  13. ^ "公司简介" [Company profile] (in Chinese). JMC. Retrieved 14 October 2019.
  14. ^ "江铃汽车富山工厂全面投产" [Jiangling Motors' Fushan plant fully operational]. Jiangxi News (in Chinese). 10 September 2021. Retrieved 22 February 2022.

External links[edit]