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Revision as of 14:00, 11 December 2019 editJLE2010 (talk | contribs)14 edits -- minor change to agree with Ford's 2018 10-K report that uses the more formal legal entity term; JMC's website uses the less formal "Jiangling Investment".Tag: Visual edit← Previous edit Latest revision as of 05:20, 11 December 2024 edit undoWiinterU (talk | contribs)Extended confirmed users9,953 edits Style fixesTag: Visual edit 
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{{Short description|Chinese automobile manufacturer}}
{{Distinguish|Jiangling Motors Corporation Group}}
{{Infobox company {{Infobox company
|name = Jiangling Motors Corporation Limited | name = Jiangling Motors Corporation Limited
|logo = JMC Motor logo.png | logo = JMC Motor logo.png
|logo_size = 90px | logo_size = 90
|predecessor = ] truck production division | predecessor = ] truck production division
|type = ]{{citation needed|date=July 2017}} | type = ]
|company_slogan = | company_slogan =
|traded_as = {{SZSE|000550}} | traded_as = {{SZSE|000550}}
|foundation = 1993 | foundation = {{start date and age|1993}}
|founder = | founder =
|divisions = ] | divisions = {{ubl |] |JMC New Energy}}
|location_city = ], ] | location_city = ], ]
|location_country = China | location_country = China
|location = | location =
|key_people = {{ubl|class=nowrap|Tiangao Qiu {{small|(Chairman)}}|David Schoch {{small|(Vice Chairman)}}|Thomas Fann {{small|(President)}}}} | key_people = {{ubl|class=nowrap|Tiangao Qiu (chairman) |Chunying Xiong (president)}}
|num_employees = 16,865 | num_employees = 12,339 (December 2022)<ref name=AR />
|parent = | parent =
|owners = {{ubl |Nanchang Jiangling Investment Co., Ltd. (41.03%)<ref group="note">Jiangling Investment is an equally-owned holding whose ultimate controllers are the Nanchang State-owned Assets Supervision and Administration Committee and the ].</ref> |] (32%) |China Securities Corporation Limited (2.72%) |Shanghai Gao Yi Asset Management Partnership (L.P.) (1.74%)}}<ref name=AR>{{cite news|url=http://pdf.dfcfw.com/pdf/H2_AN201903271310259489_1.pdf |title=Jiangling Motors Corporation, Ltd. 2018 Annual Report |publisher=JMC |pages=8, 28, 30, 55–57 |accessdate=16 May 2019 |via=Shanghai Oriental Fortune Securities Research Institute}}</ref><ref name=new>{{cite web|title=江铃汽车和长安汽车共同成立投资公司 注册资本10亿元 |url=https://m.nbd.com.cn/articles/2019-05-30/1337960.html |trans-title=Jiangling Group and Changan Automobile jointly established an investment company with a registered capital of 1 billion yuan |language=Chinese |last=Jian |first=Jianru |editor-last=Zhang |editor-first=Bei |website=nbd.com.cn |date=30 May 2019 |accessdate=7 June 2019}}</ref><ref name=new2>{{cite news|url=https://www.chinaautoreview.com/index.php/aiways-acquires-50-percent-stake-in-jiangling-holding-for-nearly-%EF%BF%A51-75-billion/ |title=AIWAYS Acquires 50 Percent Stake In Jiangling Holding For Nearly ￥1.75 Billion |work=China Automotive Review |last=Xing |first=Lei |date=6 June 2019 |accessdate=7 June 2019}}</ref> | owners = {{ubl |Nanchang Jiangling Investment Co., Ltd. (41.03%)<ref group="note">Jiangling Investment is an equally-owned holding whose ultimate controllers are the Nanchang State-owned Assets Supervision and Administration Committee and the ].</ref>
|] (32%)}}<ref name=AR>{{cite web |url=https://q.stock.sohu.com/newpdf/202352563123.pdf |title=Jiangling Motors Corporation, Ltd. 2022 Annual Report |publisher=JMC |pages=11, 49, 65–66, 77–79 |access-date=16 July 2023 |via=Sohu}}</ref><ref name=new>{{cite web|title=江铃汽车和长安汽车共同成立投资公司 注册资本10亿元 |url=https://m.nbd.com.cn/articles/2019-05-30/1337960.html |trans-title=Jiangling Group and Changan Automobile jointly established an investment company with a registered capital of 1 billion yuan |language=zh |last=Jian |first=Jianru |editor-last=Zhang |editor-first=Bei |website=nbd.com.cn |date=30 May 2019 |access-date=7 June 2019}}</ref><ref name=new2>{{cite news|url=https://www.chinaautoreview.com/index.php/aiways-acquires-50-percent-stake-in-jiangling-holding-for-nearly-%EF%BF%A51-75-billion/ |title=AIWAYS Acquires 50 Percent Stake In Jiangling Holding For Nearly ￥1.75 Billion |work=China Automotive Review |last=Xing |first=Lei |date=6 June 2019 |access-date=7 June 2019}}</ref>
|industry = ] | industry = ]
|products = ]s | products = ]s
|production = {{decrease}} 286,808 (2018)<ref name=AR/> | production = {{decrease}} 281,594 (2022)<ref name=AR />
|revenue = {{decrease}} {{yuan|28.25 billion|link=yes}} (2018)<ref name=AR/> | revenue = {{decrease}} {{yuan|30.10 billion|link=yes}} (2022)<ref name=AR />
|operating_income = {{decrease}} {{yuan|-145.186 million}} (2018)<ref name=AR/> | operating_income = {{increase}} {{yuan|0.90 billion}} (2022)<ref name=AR />
|net_income = {{decrease}} {{yuan|91.83 million}} (2018)<ref name=AR/> | net_income = {{increase}} {{yuan|0.86 billion}} (2022)<ref name=AR />
|assets = {{decrease}} {{yuan|23.40 billion}} (2018)<ref name=AR/> | assets = {{increase}} {{yuan|27.47 billion}} (2022)<ref name=AR />
|equity = {{decrease}} {{yuan|10.38 billion}} (2018)<ref name=AR/> | equity = {{increase}} {{yuan|9.24 billion}} (2022)<ref name=AR />
|homepage = {{URL|http://www.jmc.com.cn/en}} | homepage = {{URL|https://www.jmc.com.cn/|jmc.com.cn}}
|subsid = ] | subsid = {{ubl |] (dormant) |Jiangling Ford Motor Technology (Shanghai) Company (51%)}}
| module = {{Infobox Chinese|child=yes|s=江铃汽车股份有限公司|t=江鈴汽車股份有限公司|p=Jiānglíng Qìchē Gǔfèn Yǒuxiàn Gōngsī|order=st}}
|module =
| footnotes =
{{Chinese|child=yes|s=江铃汽车股份有限公司|t=江鈴汽車股份有限公司|p=Jiānglíng Qìchē Gǔfèn Yǒuxiàn Gōngsī|order=st}}
|footnotes =
}} }}
'''Jiangling Motors Corporation Limited''', abbreviated '''JMC''', is a Chinese ]. According to company and press reports, the largest shareholder of JMC is Jiangling Investment, a company controlled equally by the ]s ] and ] (JMCG).<ref name=new /><ref name=new2 />


== History ==
'''Jiangling Motors Corporation Limited''', abbreviated '''JMC''', is a Chinese ]. According to company and press reports, the largest shareholder of JMC is Jiangling Holdings, Ltd. (aka "Jiangling Investment Co."), a company controlled equally by the ]s ] and ] (JMCG).<ref name=new/><ref name=new2/>
The history of Jiangling Motors Corporation (JMC) can be traced to a truck repair shop opened in ] in 1947 which operated under the name ]. 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 ] on December 1, 1993, and September 29, 1995, respectively.{{citation needed|date=February 2019}}


In the 1990s, ] lost a bid against American rival ] for getting a ] deal with the Chinese manufacturer ].<ref>{{cite book |first=Kelly Sims |last=Gallagher |title=China Shifts Gears: Automakers, Oil, Pollution, and Development |publisher=MIT Press |page= |year=2006 |isbn=978-0-262-07270-0 |url=https://archive.org/details/chinashiftsgears00gall_0|url-access=registration |quote=Jiangling Transit Ford. }}</ref> 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.<ref name=BOOK3>{{cite book |last1=Moser |first1=Michael J. |last2=Yu |first2=Fu |title=Doing Business in China |publisher=Juris Publishing |year=2014 |isbn=978-1-57823-155-3 |url=https://books.google.com/books?id=MthIFAIf3BUC&q=Jiangling+Ford+1995&pg=PT3175}}</ref><ref name=BOOK2>{{cite book |last1=Luo |first1=Yadong |title=How to Enter China |publisher=University of Michigan Press |pages=300, 303 |year=2000 |isbn=978-0-472-11188-6 |url=https://books.google.com/books?id=vfs_W87RUvUC&q=Jiangling+Ford+1995&pg=PA300}}</ref> In 1996, JMC began selling its products in overseas markets, initially Egypt and the Middle East.<ref name=BOOK2 /> {{As of|2021}}, the largest overseas market by volume for JMC is Chile.<ref>{{cite news|url=https://www.chinatrucks.com/statistics/2021/1227/article_9897.html |title=JMC's sales in Chile jumped 300% YoY in 2021 |work=China Trucks |date=27 December 2021 |access-date=22 February 2022}}</ref> In 1997, JMC and Ford started the production of their first joint product, the ], with JMC supplying various key components (as engines and axles)<ref name=BOOK2 /> and Ford the design. In 1998, after JMC issued additional B shares, Ford upped its stake to 30%.<ref name=BOOK3 /><ref name=BOOK2 /> In 2013, Ford purchased more B shares, increasing its stake to over 30%.<ref>{{cite news|url=https://www.reuters.com/article/us-ford-jiangling-stake/ford-raises-stake-in-chinas-jiangling-motors-idUSBRE93G05320130417 |title=Ford raises stake in China's Jiangling Motors |last1=Yan |first1=Fang |last2=Takada |first2=Kazunori |publisher=Reuters |date=17 April 2013 |access-date=1 February 2019}}</ref>
==History==
The history of Jiangling Motors Corporation (JMC) can be traced to a truck repair shop opened in ] in 1947 which operated under the name ]. 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 ] on December 1, 1993 and September 29, 1995, respectively.{{cn|date=February 2019}}

In the 1990s, ] lost a bid against American rival ] for getting a ] deal with the Chinese manufacturer ].<ref>{{cite book |first=Kelly Sims |last=Gallagher |title=China Shifts Gears: Automakers, Oil, Pollution, and Development |publisher=MIT Press |page=80 |year=2006 |isbn=9780262072700 |url=https://books.google.com/books?id=yPnaXTbXHAwC&pg=PA81&dq=Jiangling+Transit+Ford&hl=en&na=X&ved=0ahUKEwilg-PUh9TlAhUBILkGHZBDAmEQ6AEIMDAB#v=onepage&q=Jiangling%20Transit%20Ford&f=false}}</ref> 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.<ref name=BOOK3>{{cite book |last1=Moser |first1=Michael J. |last2=Yu |first2=Fu |title=Doing Business in China |publisher=Juris Publishing |page= |year=2014 |isbn=9781578231553 |url=https://books.google.com/books?id=MthIFAIf3BUC&pg=PT3175&dq=Jiangling+Ford+1995&hl=en&na=X&ved=0ahUKEwjxr-j-wZngAhXFEbkGHRthAQYQ6AEIJDAA#v=onepage&q=Jiangling%20Ford%201995&f=false}}</ref><ref name=BOOK2>{{cite book |last1=Luo |first1=Yadong |title=How to Enter China |publisher=University of Michigan Press |page=300, 303 |year=2000 |isbn=9780472111886 |url=https://books.google.com/books?id=vfs_W87RUvUC&pg=PA300&dq=Jiangling+Ford+1995&hl=en&na=X&ved=0ahUKEwjxr-j-wZngAhXFEbkGHRthAQYQ6AEIKDAB#v=onepage&q=Jiangling%20Ford%201995&f=false}}</ref> In 1996, JMC began selling its products in overseas markets, initially Egypt and the Middle East. In 1997, JMC and Ford started the production of their first joint product, the ], with JMC supplying various key components (as engines and axles)<ref name=BOOK2/> and Ford the design. In 1998, after JMC issued additional B shares, Ford upped its stake to 30%.<ref name=BOOK3/><ref name=BOOK2/> In 2013, Ford purchased more B shares, increasing its stake to over 30%.<ref>{{cite news|url=https://www.reuters.com/article/us-ford-jiangling-stake/ford-raises-stake-in-chinas-jiangling-motors-idUSBRE93G05320130417 |title=Ford raises stake in China's Jiangling Motors |last1=Yan |first1=Fang |last2=Takada |first2=Kazunori |publisher=Reuters |date=17 April 2013 |accessdate=1 February 2019}}</ref>


In late 2010, Jiangling released the first passenger vehicle of JMC under the newly launched ] sub-brand, the ] SUV.<ref>{{cite news|url=http://chinaautoweb.com/2010/12/jmc-a-ford-partner-releases-its-first-passenger-car-yusheng-suv/ |title=JMC, a Ford Partner, Releases First Passenger Car–Yusheng SUV |publisher=ChinaAutoWeb.com |date=5 December 2010}}</ref> In late 2010, Jiangling released the first passenger vehicle of JMC under the newly launched ] sub-brand, the ] SUV.<ref>{{cite news|url=http://chinaautoweb.com/2010/12/jmc-a-ford-partner-releases-its-first-passenger-car-yusheng-suv/ |title=JMC, a Ford Partner, Releases First Passenger Car–Yusheng SUV |publisher=ChinaAutoWeb.com |date=5 December 2010}}</ref>


In 2013, JMC reorganised the heavy truck manufacturer Changan Taiyuan as a wholly owned subsidiary named ].<ref name=prof>{{cite web|title=江铃重汽 |url=https://product.360che.com/intro/17.html |trans-title=Jiangling Heavy Vehicle |language=Chinese |website=360che.com In 2013, JMC reorganized the heavy truck manufacturer Changan Taiyuan as a wholly owned subsidiary named ].<ref name=prof>{{cite web|title=江铃重汽 |url=https://product.360che.com/intro/17.html |trans-title=Jiangling Heavy Vehicle |language=zh |website=360che.com
|access-date=4 April 2019}}</ref> In mid-2021, JMC Heavy Duty Vehicle was sold to ].<ref>{{cite news|url=https://www.yicaiglobal.com/news/volvo-buys-jiangling-motors-unit-to-start-making-heavy-duty-trucks-in-china |title=Volvo buys Jiangling Motors' unit to start making heavy-duty trucks in China |work=Yicai Global |last=Zhang |first=Yushuo |date=24 August 2021 |access-date=22 February 2022}}</ref> 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.<ref>{{cite web|title=江铃汽车：江铃重汽已暂停生产和销售，坚定新能源转型 |url=https://car.tom.com/202305/1807267710.html |trans-title=Jiangling Motors: JMC Heavy Duty Vehicle has suspended production and sales. The company is committed to new energy transformation |language=zh |work=Automotive News Gasgoo |via=Tom.com |date=24 May 2023 |access-date=16 July 2023}}</ref>
|accessdate=4 April 2019}}</ref>


In December 2021, JMC and Ford established a ]-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.<ref>{{cite web|title=江铃福特共同成立汽车新公司 注册资本2亿 |url=http://m.caijing.com.cn/api/show?contentid=4829341 |trans-title=Jiangling and Ford jointly established a new automotive company with a registered capital of {{CNY|200 million}} |language=zh |work=Caijing |date=28 December 2021 |access-date=22 February 2022}}</ref>
==Production==
== Products ==
===Production bases===
=== JMC (Jiangling) ===
JMC produces vehicles under the JMC, JMC Yusheng and Ford brands. It has assembly plants around Nanchang (at ] and the Xiaolan Economic Zone).<ref name=F>{{cite web|title=公司简介|trans-title=Company profile|language=Chinese|url=https://www.jmc.com.cn/contents/show/1700|publisher=JMC|accessdate=14 October 2019}}</ref><ref>{{cite web|title=Short Torque|url=http://www.chinadaily.com.cn/cndy/2010-12/20/content_11724308.htm|publisher=China Daily|date=20 December 2010}}</ref> JMC is also building a ] plant (the Fushan plant) in the Xiaolan Economic Zone. JMC Heavy Duty Vehicle has a single assembly facility in ].<ref name=F/>

===Products===
====JMC (Jiangling)====
A brand mainly for commercial vehicles A brand mainly for commercial vehicles
] photographed in Shanghai, China]] ] photographed in Shenzhen, China]]
] photographed in Cancun, Mexico]] ] photographed in Cancun, Mexico]]
] photographed in Shanghai, China]] ] photographed in Shanghai, China]]
] photographed in Dandong, China]] ] photographed in Dandong, China]]

* ] – Van * ] – Van
* ] – Van
* ] minivan * ] minivan
* ] (SUV) * ] (SUV)
* ] truck
* JMC pickup * JMC pickup
** ] (JMC Baodian) pickup ** ] (JMC Baodian) pickup
Line 67: Line 66:
** ] pickup ** ] pickup
** ] pickup ** ] pickup
* ] (Jiangling Light Truck) (small truck) - based on ]/] light trucks * ] (Jiangling Light Truck) (small truck) – light trucks series
** JMC Convey (Kaiwei)
** Kairui and Kairui 800
** JMC Conquer (Kairui and Kairui 800)
** Kaiwei
** Kaiyun ** JMC Carrying (Kaiyun)
** Shunda ** ]
** JMC Shunda EV<ref>{{cite web |date=18 July 2023 |title=上海：江铃汽车顺达EV 近期最高降1.0万 |trans-title=Shanghai: JMC's Shunda EV price dropped recently by up to {{CN¥|10,000}} |url=https://m.pcauto.com.cn/x/qcbj/sh/znbj/2307/38656205.html |access-date=19 July 2023 |work=PC auto |language=zh}}</ref>
* ] (commercial van) * ] (commercial van)
* ] (electric van for logistics)
* JMC ELushunV6 (BEV van)<ref>{{Cite web |title=江铃汽车股份有限公司 - 车型子页 |url=https://www.jmc.com.cn/brand.html?brand_id=1156&car_category=2 |access-date=2024-02-15 |website=www.jmc.com.cn}}</ref>


====Yusheng==== === Yusheng ===
{{Main|JMC Yusheng}} {{Main|JMC Yusheng}}

A brand for passenger vehicles. A brand for passenger vehicles.

* ] CUV * ] CUV
* ] SUV * ] SUV


===Lexing===
====Licensed Ford production====
In June 2023, JMC unveiled Lexing ({{zh|s=乐行|p=Lèxíng|l=Happy travel|links=no}}), its first sub-brand aimed to only be used on ], and presented its first model, an electric light truck.<ref name="lexing2">{{cite web |date=16 June 2023 |title=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 |trans-title=Entering a new path, JMC released the Lexing new energy brand, launching the pure electric light truck E-Road globally |url=https://www.sohu.com/a/685915832_120774496 |access-date=19 July 2023 |work=Sohu Auto |language=zh}}</ref>
* ] (minibus, developed by ] and JMC jointly)

* ] SVO - based on Ford E-series vans:
* Lexing E-Road<ref name="lexing2" />

=== Dadao ===
A brand for pickup trucks and SUVs. Launched in 2023.<ref>{{cite web |title=Ecoboost发动机 江铃全新品牌大道发布 |url=https://www.autohome.com.cn/news/202303/1280970.html#pvareaid=102624 |access-date=21 March 2023 |website=autohome.com.cn}}</ref>

* Dadao Mohe
* Dadao EV (electric pickup truck)<ref>{{Cite web |title=江铃汽车股份有限公司 - 车型子页 |url=https://www.jmc.com.cn/brand.html?brand_id=904&car_category=2 |access-date=2024-02-15 |website=www.jmc.com.cn}}</ref>
<gallery>
File:JMC_Dadao_003.jpg|Dadao Mohe
</gallery>

=== Ford ===

* ] (minibus, developed by ] and JMC jointly)
* ] SVO – based on Ford E-series vans:
** E350 Communication/Command Vehicle ** E350 Communication/Command Vehicle
** E250 Luxury Business Vehicle ** E250 Luxury Business Vehicle
** E350 Investigation Vehicle ** E350 Investigation Vehicle
** E350 Anti-riot Assault Vehicle ** E350 Anti-riot Assault Vehicle
* ] * ]
* ] * ]
* ] (Export)

== 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.<ref>{{Cite web |title=Ford and JMC Launch Passenger Vehicle Joint Venture in China {{!}} China {{!}} English {{!}} Ford Media Center |url=https://media.ford.com/content/fordmedia/fap/cn/en/news/2022/01/26/ford-and-JMC.html |access-date=2024-11-16 |website=media.ford.com}}</ref>

The Ford Beyond is merely a distribution channel brand, its product are sourced from JMC or directly imported.<ref>{{Cite web |title=Ford, Jiangling form China joint venture to sell SUVs, vans |url=https://www.reuters.com/business/autos-transportation/ford-jiangling-form-china-joint-venture-sell-suvs-vans-2022-01-26/ |website=Reuters}}</ref>

=== Ford Beyond product ===

* ]
* ]
* ] (imported)

== Production ==
JMC produces vehicles under the JMC, JMC Yusheng, Ford and other brands and sub-brands. It has assembly plants around Nanchang (at ] and the Xiaolan Economic Zone).<ref name="F4">{{cite web |title=公司简介 |trans-title=Company profile |url=https://www.jmc.com.cn/contents/show/1700 |access-date=14 October 2019 |publisher=JMC |language=zh}}</ref> JMC also has a ] plant (the Fushan plant) in the Xiaolan Economic Zone.<ref>{{cite web |date=10 September 2021 |title=江铃汽车富山工厂全面投产 |trans-title=Jiangling Motors' Fushan plant fully operational |url=https://m.jxnews.com.cn/jx/system/2021/09/10/019389815.shtml |access-date=22 February 2022 |work=Jiangxi News |language=zh}}</ref>

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


{| class="wikitable"
====New energy vehicle====
|+Sales of Jiangling Motors <ref>{{Cite web |title=江铃汽车(000550) - 财务报告 - 股票行情中心 - 搜狐证券 |url=https://q.stock.sohu.com/cn/000550/cwbg.shtml |access-date=2024-01-10 |website=q.stock.sohu.com}}</ref>
* Yusheng S330 EV/PHEV (proposed)
!Year
!Total
!JMC
!Yusheng
!JMC Heavy Duty
!Ford
|-
!2010
|178,999
|126,641
| -
| -
|52,358
|-
!2011
|194,588
|135,993
| -
| -
|58,595
|-
!2012
|200,008
|134,485
|8,346
| -
|57,177
|-
!2013
|230,006
|148,061
|14,160
|392
|67,785
|-
!2014
|275,858
|177,036
|26,708
|38
|72,076
|-
!2015
|262,756
|165,512
|19,651
|33
|77,560
|-
!2016
|281,019
|163,219
|37,346
|52
|80,402
|-
!2017
|310,028
|211,672
|29,151
|636
|68,569
|-
!2018
|285,066
|218,257
|6,892
|1,516
|58,401
|-
!2019
|290,058
|189,317
|1,551
|1,080
|98,110
|-
!2020
|331,098
| colspan="4" |undisclosed
|-
!2021
|341,008
| colspan="4" |undisclosed
|-
!2022
|282,008
| colspan="4" |undisclosed
|-
!2023
|310,008
| colspan="4" |undisclosed
|}


Although Jiangling Motor is a public-listed company in which ] only holds a minority stake, the former's sales volume is consolidated into the latter's.<ref>{{Cite web |title=Investor Information |url=https://shareholder.ford.com/Investors/financials/default.aspx |website=Ford Motor Company}}</ref>


==See also== == See also ==
*] *]


==Notes== == Notes ==
{{reflist|group=note}} {{reflist|group=note}}


==References== == References ==
{{Reflist}} {{Reflist}}


==External links== == External links ==
{{Commons category|Jiangling vehicles}} {{Commons category}}
* * {{Official website}}


{{Jiangling Motors}} {{Jiangling Motors}}
Line 113: Line 244:
] ]
] ]
] ]
] ]
] ]

Latest revision as of 05:20, 11 December 2024

Chinese automobile manufacturer Not to be confused with Jiangling Motors Corporation Group.
Jiangling Motors Corporation Limited
Company typePublic
Traded asSZSE: 000550
IndustryAutomotive
PredecessorJMCG truck production division
Founded1993; 31 years ago (1993)
HeadquartersNanchang, Jiangxi, China
Key people
  • Tiangao Qiu (chairman)
  • Chunying Xiong (president)
ProductsAutomobiles
Production outputDecrease 281,594 (2022)
RevenueDecrease CN¥30.10 billion (2022)
Operating incomeIncrease CN¥0.90 billion (2022)
Net incomeIncrease CN¥0.86 billion (2022)
Total assetsIncrease CN¥27.47 billion (2022)
Total equityIncrease CN¥9.24 billion (2022)
Owners
Number of employees12,339 (December 2022)
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 PinyinJiānglíng Qìchē Gǔfèn Yǒuxiàn Gōngsī
Websitejmc.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).

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.

In the 1990s, Ford lost a bid against American rival General Motors for getting a joint venture deal with the Chinese manufacturer SAIC Motor. 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. In 1996, JMC began selling its products in overseas markets, initially Egypt and the Middle East. As of 2021, the largest overseas market by volume for JMC is Chile. 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) and Ford the design. In 1998, after JMC issued additional B shares, Ford upped its stake to 30%. In 2013, Ford purchased more B shares, increasing its stake to over 30%.

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

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

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.

Products

JMC (Jiangling)

A brand mainly for commercial vehicles

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

Yusheng

Main article: JMC 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.

  • Lexing E-Road

Dadao

A brand for pickup trucks and SUVs. Launched in 2023.

  • Dadao Mohe
  • Dadao EV (electric pickup truck)
  • Dadao Mohe Dadao Mohe

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.

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

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). JMC also has a new energy vehicle plant (the Fushan plant) in the Xiaolan Economic Zone.

Sales

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

Sales of Jiangling Motors
Year Total JMC Yusheng JMC Heavy Duty Ford
2010 178,999 126,641 - - 52,358
2011 194,588 135,993 - - 58,595
2012 200,008 134,485 8,346 - 57,177
2013 230,006 148,061 14,160 392 67,785
2014 275,858 177,036 26,708 38 72,076
2015 262,756 165,512 19,651 33 77,560
2016 281,019 163,219 37,346 52 80,402
2017 310,028 211,672 29,151 636 68,569
2018 285,066 218,257 6,892 1,516 58,401
2019 290,058 189,317 1,551 1,080 98,110
2020 331,098 undisclosed
2021 341,008 undisclosed
2022 282,008 undisclosed
2023 310,008 undisclosed

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.

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.

References

  1. ^ "Jiangling Motors Corporation, Ltd. 2022 Annual Report" (PDF). JMC. pp. 11, 49, 65–66, 77–79. Retrieved 16 July 2023 – via Sohu.
  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. ^ 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. ^ Moser, Michael J.; Yu, Fu (2014). Doing Business in China. Juris Publishing. ISBN 978-1-57823-155-3.
  6. ^ 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. ^ "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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