Jiangling Motors

Last updated
Jiangling Motors Corporation Limited
Company type Public
SZSE: 000550
Industry Automotive
Predecessor JMCG truck production division
Founded1993;32 years ago (1993)
Headquarters
Nanchang, Jiangxi
,
China
Key people
  • Tiangao Qiu (chairman)
  • Chunying Xiong (president)
Products Automobiles
Production output
Decrease2.svg 281,594 (2022) [1]
RevenueDecrease2.svg CN¥30.10 billion (2022) [1]
Increase2.svg CN¥0.90 billion (2022) [1]
Increase2.svg CN¥0.86 billion (2022) [1]
Total assets Increase2.svg CN¥27.47 billion (2022) [1]
Total equity Increase2.svg CN¥9.24 billion (2022) [1]
Owners
[1] [2] [3]
Number of employees
12,339 (December 2022) [1]
Divisions
Subsidiaries
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
Transcriptions
Standard Mandarin
Hanyu Pinyin Jiānglíng Qìchē Gǔfèn Yǒuxiàn Gōngsī
Website 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]

Contents

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. [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 reorganized 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] Volvo Trucks later terminated the acquisition agreement, leaving JMC Heavy Duty Vehicle as a JMC subsidiary. As of May 2023, JMC Heavy Duty Vehicle production and sales are suspended. [12]

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. [13]

Products

JMC (Jiangling)

A brand mainly for commercial vehicles

A JMC Teshun photographed in Shenzhen, China 2017 JMC Teshun (front).jpg
A JMC Teshun photographed in Shenzhen, China
A JMC Boarding photographed in Cancun, Mexico JMC Boarding crew cab pu.jpg
A JMC Boarding photographed in Cancun, Mexico
A JMC Yusheng photographed in Shanghai, China Jiangling Yusheng 01 China 2012-06-02.JPG
A JMC Yusheng photographed in Shanghai, China
A JMC Yunba photographed in Dandong, China JMC Yunba 02 China 2017-03-19.jpg
A JMC Yunba photographed in Dandong, China

Yusheng

A brand for passenger vehicles.

Lexing

In June 2023, JMC unveiled Lexing (Chinese:乐行; pinyin:Lèxíng; lit.'Happy travel'), its first sub-brand aimed to only be used on new energy vehicles, and presented its first model, an electric light truck. [16]

Dadao

A brand for pickup trucks and SUVs. Launched in 2023. [17]

Ford

Joint venture

In January 2022, Ford and JMC announced the establishment of Jiangling Ford Automobile Technology (Shanghai) Co., Ltd, a 49:51 joint venture to distribute Ford brand's passenger vehicle in China under Ford Beyond brand. Since Ford Motor Company holds a 32% stake in JMC, the controlling shareholder of the joint venture, after equity piercing, Ford actually holds 65.32% of the company's shares, making it a substantially foreign-controlled enterprise. [19]

The Ford Beyond is merely a distribution channel brand, its product are sourced from JMC or directly imported. [20]

Ford Beyond product

Production

JMC produces vehicles under the JMC, JMC Yusheng, Ford and other brands and sub-brands. It has assembly plants around Nanchang (at Qingyunpu and the Xiaolan Economic Zone). [21] JMC also has a new energy vehicle plant (the Fushan plant) in the Xiaolan Economic Zone. [22]

Sales

The following table includes a list of annual sales according to company's data.

Sales of Jiangling Motors [23]
YearTotalJMCYushengJMC Heavy DutyFord
2010178,999126,641--52,358
2011194,588135,993--58,595
2012200,008134,4858,346-57,177
2013230,006148,06114,16039267,785
2014275,858177,03626,7083872,076
2015262,756165,51219,6513377,560
2016281,019163,21937,3465280,402
2017310,028211,67229,15163668,569
2018285,066218,2576,8921,51658,401
2019290,058189,3171,5511,08098,110
2020331,098undisclosed
2021341,008undisclosed
2022282,008undisclosed
2023310,008undisclosed

Although Jiangling Motor is a public-listed company in which Ford Motor Company only holds a minority stake, the former's sales volume is consolidated into the latter's. [24]

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.

Related Research Articles

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JMC Yusheng is a sub-brand of Jiangling Motors

<span class="mw-page-title-main">JMC Yuhu</span> Motor vehicle

The JMC Yuhu (江铃域虎) is a mid-size pickup truck produced by Jiangling Motors for the Chinese market. The model was also sold as the second generation Boarding or Baodian (宝典）in several markets and is also the successor of the JMC Baodian. The Yuhu later spawned a few variants that was sold alongside each other including the regular Baodian, the Yuhu 3 and Yuhu 5.

<span class="mw-page-title-main">Yusheng S350</span> Motor vehicle

The Yusheng S350 is a mid-size crossover SUV produced by Yusheng (江铃驭胜), a sub-brand of Jiangling (JMC) since 2010.

<span class="mw-page-title-main">Yusheng S330</span> Motor vehicle

The Yusheng S330 is a compact crossover SUV produced by JMC Yusheng and positioned below the Yusheng S350 SUV.

<span class="mw-page-title-main">JMC Teshun</span> Motor vehicle

The JMC Teshun is a light commercial van manufactured by Jiangling Motors based on the second generation Ford Transit.

<span class="mw-page-title-main">Landwind X2</span> Chinese subcompact crossover SUV

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<span class="mw-page-title-main">Jiangling Motors Corporation Group</span> Chinese automotive holding company

Jiangling Motors Corporation Group Co., Ltd. (JMCG) is a Chinese state-owned holding mostly operating in the automotive industry. It was established in 1947 and is headquartered in Nanchang, Jiangxi.

<span class="mw-page-title-main">JMCGL</span> Chinese automobile manufacturer

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<span class="mw-page-title-main">JMC Heavy Duty Vehicle</span> Chinese car manufacturer

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.

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<span class="mw-page-title-main">JMC Yuhu 7</span> Mid-sized pickup truck

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References

  1. 1 2 3 4 5 6 7 8 "Jiangling Motors Corporation, Ltd. 2022 Annual Report" (PDF). JMC. pp. 11, 49, 65–66, 77–79. Retrieved 16 July 2023– via Sohu.
  2. 1 2 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. 1 2 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. 1 2 Moser, Michael J.; Yu, Fu (2014). Doing Business in China. Juris Publishing. ISBN   978-1-57823-155-3.
  6. 1 2 3 4 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. ↑ "江铃汽车：江铃重汽已暂停生产和销售，坚定新能源转型" [Jiangling Motors: JMC Heavy Duty Vehicle has suspended production and sales. The company is committed to new energy transformation]. Automotive News Gasgoo (in Chinese). 24 May 2023. Retrieved 16 July 2023– via Tom.com.
  13. ↑ "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 CN¥200 million]. Caijing (in Chinese). 28 December 2021. Retrieved 22 February 2022.
  14. ↑ "上海：江铃汽车顺达EV 近期最高降1.0万" [Shanghai: JMC's Shunda EV price dropped recently by up to CN¥10,000]. PC auto (in Chinese). 18 July 2023. Retrieved 19 July 2023.
  15. ↑ "江铃汽车股份有限公司 - 车型子页". www.jmc.com.cn. Retrieved 2024-02-15.
  16. 1 2 "驶入新赛道，江铃发布乐行新能源品牌，全球上市纯电轻卡E路达" [Entering a new path, JMC released the Lexing new energy brand, launching the pure electric light truck E-Road globally]. Sohu Auto (in Chinese). 16 June 2023. Retrieved 19 July 2023.
  17. ↑ "Ecoboost发动机 江铃全新品牌大道发布". autohome.com.cn. Retrieved 21 March 2023.
  18. ↑ "江铃汽车股份有限公司 - 车型子页". www.jmc.com.cn. Retrieved 2024-02-15.
  19. ↑ "Ford and JMC Launch Passenger Vehicle Joint Venture in China | China | English | Ford Media Center". media.ford.com. Retrieved 2024-11-16.
  20. ↑ "Ford, Jiangling form China joint venture to sell SUVs, vans". Reuters.
  21. ↑ "公司简介" [Company profile] (in Chinese). JMC. Retrieved 14 October 2019.
  22. ↑ "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.
  23. ↑ "江铃汽车(000550) - 财务报告 - 股票行情中心 - 搜狐证券". q.stock.sohu.com. Retrieved 2024-01-10.
  24. ↑ "Investor Information". Ford Motor Company.
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