Type | Subsidiary | ||||||
---|---|---|---|---|---|---|---|
Industry | Automotive | ||||||
Predecessor | Taiyuan Changan Heavy Truck Company | ||||||
Founded | 8 January 2013 | ||||||
Headquarters | , China | ||||||
Area served | China | ||||||
Key people | Wu Xiaojun (general manager) [1] | ||||||
Products | Trucks | ||||||
CN¥−303.330 million [2] (2017) | |||||||
CN¥−219.831 million (2017) [2] | |||||||
Total assets | CN¥2,061.645 million (2017) [2] | ||||||
Total equity | CN¥−327.366 million (2017) [2] | ||||||
Parent | Jiangling Motors | ||||||
Chinese name | |||||||
Simplified Chinese | 江铃重型汽车有限公司 | ||||||
Traditional Chinese | 江鈴重型汽車有限公司 | ||||||
| |||||||
Website | www |
JMC Heavy Duty Vehicle (JMCH) is a dormant Chinese manufacturer of Ford-based heavy trucks owned by Jiangling Motors. It was established in 2013 as a successor of Taiyuan Changan and is headquartered in Taiyuan.
In August 2012, Jiangling Motors announced it would acquire all the stake of the Taiyuan-based heavy truck manufacturer Taiyuan Changan Heavy Truck Company from its shareholders Changan (80% stake) and China South Industries Group Corporation (20%). [3] [4] Taiyuan Changan Heavy Truck had been established in 2007 and planned to sell about 15,000 trucks by 2012 and be in the level of the top-ten truck manufacturers within China, but the actual number that year was about 3,000. [5] Taiyuan Changan Heavy Truck was reincorporated as JMC Heavy Duty Vehicle (JMCH) and restarted operations on 8 January 2013. [6] In July 2014, Ford and JMCH signed an agreement for the latter to produce Ford-based heavy trucks. [7] In 2015, JMCH completed the construction of a new assembly plant and an engine plant. [6] The first product from the company, the Cargo-based Weilong, was unveiled at the 2017 Shanghai Motor Show [8] and deliveries started in October 2017. [9] In 2018, the company introduced the F-MAX-based Weilong HV5. [10]
In August 2020, following constant yearly losses, JMC announced it had spun off JMCH's engine branch into a separate company called Taiyuan Jiangling Power Co., Ltd. In October 2020, it announced it had put a 60% controlling stake from the new company on sale. [11] In January 2021, it announced it had sold the stake to the Yunnei Group (a state-owned holding controlled by the Kunming State-owned Assets Supervision and Administration Commission). [12] That same month, JMC said it would increase the JMCH capital with the aim of improving its assets-liabilities ratio and facilitating a company restructuring. [13] In May 2021, JMC said its board had decided to list JMCH for sale. [14]
In August 2021, Volvo Trucks, a division of Volvo Group, announced its intention to acquire JMCH for around CN¥800 million. [15] In May 2023, Volvo Trucks announced that it had abandoned its takeover and instead would continue to import its products to China. [16] By the end of the month, Jiangling Motors said it had indefinitely suspended JMCH's production and sales. [17]
The company has sold two Ford-based heavy trucks, the Weilong and Weilong HV5, under various configurations. [6]
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