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| 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}} | 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 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> As of 31 December 2018, Ford owned 32% of JMC, Jiangling Holdings, Ltd. owned 41%, and the public owned . | ||
| 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> | ||
Revision as of 13:44, 11 December 2019
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| Company type | Public limited company | ||||||
|---|---|---|---|---|---|---|---|
| Traded as | SZSE: 000550 | ||||||
| Industry | Automotive | ||||||
| Predecessor | JMCG truck production division | ||||||
| Founded | 1993 | ||||||
| Headquarters | Nanchang, Jiangxi, China | ||||||
| Key people |
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| Products | Automobiles | ||||||
| Production output |  286,808 (2018) | ||||||
| Revenue | CN¥28.25 billion (2018) | ||||||
| Operating income | CN¥−145.186 million (2018) | ||||||
| Net income | CN¥91.83 million (2018) | ||||||
| Total assets | CN¥23.40 billion (2018) | ||||||
| Total equity | CN¥10.38 billion (2018) | ||||||
| Owners |
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| Number of employees | 16,865 | ||||||
| Divisions | JMC Yusheng | ||||||
| Subsidiaries | JMC Heavy Duty Vehicle | ||||||
| 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 | ||||||
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| Website | www | ||||||
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. 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%. As of 31 December 2018, Ford owned 32% of JMC, Jiangling Holdings, Ltd. owned 41%, and the public owned the remaining 27%.
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 reorganised the heavy truck manufacturer Changan Taiyuan as a wholly owned subsidiary named JMC Heavy Duty Vehicle.
Production
Production bases
JMC produces vehicles under the JMC, JMC Yusheng and Ford brands. It has assembly plants around Nanchang (at Qingyunpu and the Xiaolan Economic Zone). JMC is also building a new energy vehicle plant (the Fushan plant) in the Xiaolan Economic Zone. JMC Heavy Duty Vehicle has a single assembly facility in Taiyuan.
Products
JMC (Jiangling)
A brand mainly for commercial vehicles
- JMC Teshun – Van
- Jiangling CV9 minivan
- JMC BaoWei (SUV)
- JMC Carrying truck
- JMC pickup
- JMC Boarding (JMC Baodian) pickup
- JMC Yuhu pickup
- JMC Yuhu 3 pickup
- JMC Yuhu 5 pickup
- JMC Yuhu 7 pickup
- JMC Yuhu 9 pickup
- JMC Yuhu EV pickup
- JMC Qingka (Jiangling Light Truck) (small truck) - based on Toyota/Hino light trucks
- Kairui and Kairui 800
- Kaiwei
- Kaiyun
- Shunda
- JMC Yunba (commercial van)
Yusheng
Main article: JMC YushengA brand for passenger vehicles.
- Yusheng S330 CUV
- Yusheng S350 SUV
Licensed Ford production
- JMC Transit (minibus, developed by Ford and JMC jointly)
- JMC E-series SVO - based on Ford E-series vans:
- E350 Communication/Command Vehicle
- E250 Luxury Business Vehicle
- E350 Investigation Vehicle
- E350 Anti-riot Assault Vehicle
- Ford Everest
- Ford Territory
New energy vehicle
- Yusheng S330 EV/PHEV (proposed)
See also
Notes
- Jiangling Investment is an equally-owned holding whose ultimate controllers are the Nanchang State-owned Assets Supervision and Administration Committee and the SASAC.
References
- ^ "Jiangling Motors Corporation, Ltd. 2018 Annual Report" (PDF). JMC. pp. 8, 28, 30, 55–57. Retrieved 16 May 2019 – via Shanghai Oriental Fortune Securities Research Institute.
- ^ 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.
- ^ 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.
- Gallagher, Kelly Sims (2006). China Shifts Gears: Automakers, Oil, Pollution, and Development. MIT Press. p. 80. ISBN 9780262072700.
- ^ Moser, Michael J.; Yu, Fu (2014). Doing Business in China. Juris Publishing. ISBN 9781578231553.
- ^ Luo, Yadong (2000). How to Enter China. University of Michigan Press. p. 300, 303. ISBN 9780472111886.
- Yan, Fang; Takada, Kazunori (17 April 2013). "Ford raises stake in China's Jiangling Motors". Reuters. Retrieved 1 February 2019.
- "JMC, a Ford Partner, Releases First Passenger Car–Yusheng SUV". ChinaAutoWeb.com. 5 December 2010.
- "江铃重汽" [Jiangling Heavy Vehicle]. 360che.com (in Chinese). Retrieved 4 April 2019.
- ^ "公司简介" [Company profile] (in Chinese). JMC. Retrieved 14 October 2019.
- "Short Torque". China Daily. 20 December 2010.
External links
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