Shenfei Hino
In 1980,the state-owned enterprise Shenfei Group established a bus manufacturing company at Shenyang named as Shenyang Shenfei Automotive [4] (organised as a limited company in December 1993). [5] In December 2002,Shenfei,Hino,and Toyota Tsusho agreed to re-incorporate the company as a joint venture,Shenyang Shenfei Hino Automotive Manufacturing Co.,Ltd. (Shenfei Hino),focused on producing Hino buses. At the end of 2003,the joint venture completed a new bus assembly facility. [4]
Creation of GAC Hino
Both Yangcheng Auto and Shenfei Hino had low sales. [8] In December 2007,GAC and Hino formed the GAC Hino joint venture (an equally-owned venture) by absorbing and reorganising Yangcheng and Shenfei Hino. [9] Both bases (Shenyang and Guangzhou) were kept by GAC Hino until a new facility for producing trucks (the Conghua plant) were completed in Guangzhou. GAC Hino also kept on managing the Yangcheng lineup. [10] In 2008,GAC announced it planned to put Yangcheng production under the GAC marque.
In mid-2009,after some GAC problems,the new Guangzhou plant started operations, [8] [11] producing variants of the Hino 700. [3] That same year,the company also relaunched bus production at Shenyang. In 2016,the Shenyang operations stopped assembly and were dissolved,following constant yearly losses. [5]
In the period between 2009 and 2011,GAC Hino products were only available in Guangdong and the company could keep a production volume of over 1,000 vehicles because the 700 truck was designated for building infrastructure of the 2009 East Asian Games. [3]
On January 24,2024,GAC Group and "Guangzhou Hydrogen Cloud New Energy Technology Investment" acquired 39.72% and 5.45% equity stakes in GAC Hino held by Hino Motors for CNY 29.69 million and CNY 4.0739 million,respectively. After the equity adjustment,GAC Group,Hino Motors,and Hydrogen Cloud New Energy hold 89.72%,4.83%,and 5.45% of the shares,respectively. [12]
3,190 (2020) [2] 