Jiangling Motors Corporation Group Co., Ltd.
Formerly
  • Jiangxi Automotive Maintenance Plant
  • Jiangxi Automotive Repair Plant
  • Jiangxi Automotive Manufacturing Plant
TypeState-owned enterprise
IndustryAutomotive
Founded8 April 1947
Headquarters
Nanchang, Jiangxi
,
China
Area served
Worldwide
Key people
RevenueIncrease CN¥95.34 billion (2020)[2]
Decrease CN¥0.83 billion (2020)[2]
Total assetsIncrease CN¥92.67 billion (2020)[2]
OwnerNanchang State-owned Assets Supervision and Administration Committee[3][4]
Chinese name
Simplified Chinese江铃汽车集团有限公司
Traditional Chinese江鈴汽車集團有限公司
Jiangling Group (JMCG)
Simplified Chinese江铃集团
Traditional Chinese江鈴集團
Websitewww.jmcg.com.cn
www.jmcg-global.com

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.

JMCG has various production facilities and, through shareholdings, maintains partnerships with other automotive manufacturers including Ford, Isuzu and Changan.

History

On 8 April 1947, JMCG was established as Nanchang Automotive Maintenance Plant. In April 1949, Nanchang Automotive Maintenance Plant was renamed as Nanchang Automotive Repairing Plant. In May 1958, it produced Yingxiong-bagded (Chinese: 英雄; pinyin: Yīngxióng; lit. 'Hero') three-wheeled vehicles. In the same year, it produced a 2.5-tonne Yingxiong truck.[5] In 1968,[6] it was renamed Jiangxi Automotive Manufacturing Plant[7] and started the mass-production of commercial vehicles,[6] mostly Jinggangshan-badged (Chinese: 井冈山; pinyin: Jǐnggāngshān; lit. 'Well Ridge Mountains') light trucks using 1940s Soviet technology.[8] In 1969, it also produced a small number of cars.[5] The company focused production on commercial vehicles, although it had a net financial loss until the 1980s.[5]

As the Chinese economy opened up, Jiangxi Automotive Manufacturing Plant found increasingly difficult to compete with more modern, better-quality foreign products. The manufacturing plant had to cut its prices to keep on selling, worsening its financial situation.[8] By 1983, the company had an accumulated loss of CN¥56 million while the total value of its assets was less than CN¥10 million.[9] That year, Sun Min became the company chief and started a turnaround plan focused on increasing efficiency and streamlining operations.[9][10] In 1984, after improving the Jinggangshan trucks and increasing sales volume, the company posted its first profit in sixteen years.[8] During the 1980s the company also began a partnership with Isuzu of Japan to produce light and medium trucks.[6] From 1989 to 1992, Jiangxi Automotive Manufacturing Plant merged and reorganised Jiangxi Trailer Plant, Nanchang Sewing Machine Plant, Jiangxi Washing Machine Plant, Jiangxi Steel Window Plant, Fuzhou Chassis Plant and Zhangzhou Gearbox Plant and other companies.[5][8] Jiangling Motors Corporation Group was formally established in 1991.[5][8][10] In 1993, the company structure was reorganised and simplified[10] and its truck business was spun off and listed on the Shenzhen Stock Exchange as Jiangling Motors Corporation (JMC).[6][10] Ford Motor Company became a partner of JMCG by acquiring a significant stake in JMC.[6]

Failed Algerian project

By 2007, JMCG had a strong presence in the Algerian market through JMC products, with a third of the automotive sales in the country. JMCG partnered with Zhongding (Pingxiang Coal Group), another Nanchang company, and bidded for an Algerian special economic zone. The zone was approved and received the name Algeria-China Jiangling Free Trade Zone. The aim of the zone was to attract Jiangxi companies centred on the automotive and construction materials industries.[11] The zone was never completed as the Algerian government enacted laws forcing majority stakes for the local companies participating in special economic zones[12] and incentivating full vehicle manufacturing instead of only final assembly as intended by the Chinese.[13] The Algerian government also wanted Algerian subcontractors on the project, while the Chinese companies preferred Chinese ones.[14]

Company ownership and structure

From its establishment onwards, JMCG has been a wholly state-owned enterprise (SOE) controlled by Nanchang's municipal planning.[15] Until 1993, JMCG's assets were owned directly by the state. That year, it was incorporated as a limited company, although still state-owned.[10] In September 2019, Jiangxi's State-owned Assets Supervision and Administration Committee announced it had included JMCG in a list of SOEs incorporating investors from the private sector by 2021, as part of mixed economy reforms.[16]

Joint ventures

Jiangling Motor Holding and Jiangling Investment

Jiangling Motor Holding Co. Ltd. or JMH (Chinese: 江西江铃控股有限公司; pinyin: Jiāngxī Jiānglíng Kònggǔ Yǒuxiàn Gōngsī) was a joint venture established in October 2004 and controlled equally by the state-owned enterprises Changan and JMCG. To create Jiangling Motor Holding, Changan invested money and in exchange JMCG transferred its JMC equity to the venture. Jiangling Motor Holding was the largest shareholder of JMC,[17] with a 41.03% stake as of March 2018.[4] JMH also owned the Landwind marque.[17][18]

In April 2019, it was announced that JMCG and Changan planned to split JMH into two separate companies: one keeping the same name and other tentatively called Jiangling Investment. Jiangling Investment would hold the 41.03% JMC stake and some liabilities and would still be equally owned by Changan and JMCG. The new JMH would own the rest of the former JMH assets (including Landwind)[19][20] and it would issue 100% more shares to be sold to investors, leaving JMCG and Changan with a 25% stake each.[20] Jiangling Investment was formally established in May 2019, completing the split of the former JMH.[21] In June 2019, it was announced that the investor for the new JMH was the car manufacturer Aiways. Aiways acquired a 50% of the new JMH with the aim of securing production permits for new energy vehicles.[22][23]

Jiangxi Isuzu

Jiangxi Isuzu Motors Co.,Ltd. (JIM) is a Nanchang-based joint venture between Isuzu and JMCG established in 1983.[24] Isuzu N-series trucks were manufactured from 1985 onwards by Jiangxi Automotive Manufacturing Plant. In 1993, shortly before JMC were spun off, Jiangxi Automobile Manufacturing Co., Ltd. (a JMCG subsidiary), Itochu Trading and Isuzu created the Jiangling Isuzu joint venture to continue producing Isuzu-badged trucks for 20 years. JMCG owned a 75% stake and the rest was evenly distributed between Isuzu and Itochu.[5] JMCG and Isuzu restructured their agreement in 2012, and the equally-owned Jiangxi Isuzu took charge of Isuzu production in April 2013.[5][25]

JMEV

JMEV is a joint venture between JMCG and Renault.[26] It was established in 2015 as a JMCG electric vehicle subsidiary aimed at supplying smaller cities on China's inland.[27] It became a joint venture in July 2019 after Renault acquired a 50% majority stake through capital increase.[26]

Subsidiaries and minor joint ventures

JMCG Subsidiaries and Affiliations as of 2019

Active

Jingma Motor Co., Ltd, JMCG (Chinese: 江铃集团晶马汽车有限公司; pinyin: Jiānglíng Jítuán Jīngmǎ Qìchē Yǒuxiàn Gōngsī), also known as JMMC, is a Nanchang-based company focused on developing and producing firefighting vehicles, light-duty SUVs and buses. The company was founded in 1958 as Jiangxi Firefighting Vehicle Manufacturing Factory (also known as Nanchang Automobile Factory). In November 2011, the company was acquired by JMCG and adopted its present name. In February 2013, JMCG integrated the business of Nanchang JMC New Power Vehicle Manufacturing Co., Ltd. into JMMC, to consolidate the production of new energy vehicle buses. JMMC can produce up to 6,000 vehicles per year.[28]

Getrag (Jiangxi) Transmission Co., Ltd, is a Nanchang-based joint venture between Getrag and JMCG, established in January 2007.[29]

Jiangxi Mingfang Auto Parts Industrial Co., Ltd. a joint venture between JMCG and Taiwanese auto parts manufacturer Hsin Chong Group to build an auto parts plant in Yingtan.[30][31] The plant was put into production in June 2019, and it is initially focused on supplying door and sunroof parts for Jiangxi Isuzu and JMEV vehicles.[30]

Jiangling Motors Group Finance Co., Ltd. (Chinese: 江铃汽车集团财务有限公司; pinyin: Jiānglíng Qìchē Jítuán Cáiwù Yǒuxiàn Gōngsī) is a JMCG subsidiary created in 1993 to provide financial services for JMCG partners and affiliates.[32]

Jiangxi Jiangling Motors Import and Export Co., Ltd. or JMIE (Chinese: 江西江铃进出口有限责任公司; pinyin: Jiāngxī Jiānglíng Jìn Chūkǒu Yǒuxiàn Zérèn Gōngsī) is a trading company owned by JMCG. It exports products from JMCG's partners and affiliates (including JMH, JMC and JIM) and imports products from various companies. The company was established in 1999 and is based in Nanchang.[33] Countries where JMIE is trading include Algeria,[33] South Africa,[34] Saudi Arabia, Nigeria, Angola,[33] Colombia,[35] Cuba, Philippines[33] and Australia.[36]

Vehicle conversion

JMCG has various affiliates focused on converting vehicles from its partners Ford and Isuzu as well as its affiliates JMC and JMMC into special-purpose ones (such as ambulances and firefighting vehicles). These include:

  • Jiangxi Jiangling Special-purpose Vehicle Co., Ltd. or JSVC (Chinese: 江西江铃专用车辆厂有限公司; pinyin: Jiāngxī Jiānglíng Zhuānyòng Chēliàng Chǎng Yǒuxiàn Gōngsī);[37]
  • Jiangling Group Special Vehicle Co., Ltd. or JMT (Chinese: 江铃集团特种车专用车有限公司; pinyin: Jiānglíng Jítuán Tèzhǒng Chē Zhuānyòng Chē Yǒuxiàn Gōngsī);[38]
  • Jiangxi Jiangling Group Modified Special Vehicle Co., Ltd. or JSV (Chinese: 江西江铃汽车集团改装车股份有限公司; pinyin: Jiāngxī Jiānglíng Qìchē Jítuán Gǎizhuāng Chē Gǔfèn Yǒuxiàn Gōngsī).[39]

JSV was established in 1996 by JMCG as the Jiangling Modification Plant. It adopted its present form in 2006, following a restructuring, and JMCG kept a minority 30% stake while a majority stake was taken by a group of natural persons. Before 2006, JSV focused on converting products from suppliers into construction and cash transport vehicles. After that, it shifted focus to specially-equipped vehicles such as ambulances. In 2019, the company converted 363 vehicles for a revenue of CN¥99.314 million. In July 2020, it announced plans to list stock on the Shenzhen Stock Exchange to finance an expansion of the installed capacity for producing recreational vehicles.[40]

Defunct

Jiangling Tractor Company (JTC) was JMCG tractor assembling subsidiary. By 2004, it had a plant at Nanchang with the capacity to assemble up to 12,000 units.[41] In 2005, JMCG sold an 80% controlling stake in JTC to Indian Mahindra & Mahindra which renamed it Mahindra (China) Tractor Co., Ltd.[42]

A JMCGL Qiling T7 truck, pictured in 2016

JMCG Light Vehicle Co., Ltd. (Chinese: 江铃集团轻型汽车有限公司; pinyin: Jiānglíng Jítuán Qīngxíng Qìchē Yǒuxiàn Gōngsī), also known as Jiangling Group Light Truck or JMCGL, was a Fuzhou-based pickup truck and minivan manufacturer established in early 2013 by JMCG after reorganising Huaxiang Fuqi.[43][44] Fuzhou is one of the six major vehicle manufacturing bases of JMCG outside Nanchang (the others being Qingyun, Xiaolan, Changbei, Wangcheng and Taiyuan).[43] The first product from the new company, the Qiling T5 pickup, was launched in September 2014.[43][45] A second pickup, the T7, was launched in July 2015.[46] In late 2017, JMCGL introduced the Qiling T100.[47]

In January 2018, Jintan Auto Group acquired a 67% majority stake in JMCGL and later renamed it Jiangxi Dancheng (Dorcen) Motor Company. JMCG kept a 19% stake[44][48] and the rest was taken by Fuzhou High-tech Zone Development Investment Group.[44] The former JMCGL became one of the bases for Jintan Auto's Dorcen marque, which was launched in September 2018.[44][48] As of 2019, Jiangxi Dorcen still assembles Qiling-badged pickups.[49]

References

  1. ↑ "CATL inks strategic agreement with JMC". Automotive News Gasgoo. 26 July 2018. Retrieved 2 February 2019.
  2. 1 2 3 Wu, Ying (24 January 2021). "江铃集团产销逆势上扬" [Jiangling Group's production and sales rose against the trend]. Jiangxi Daily (in Chinese). Retrieved 11 July 2021 – via Shangrao Municipal Radio and Television Bureau.
  3. ↑ Liu, Lei (3 August 2019). "市属国企资产突破6000亿元" [The assets of the state-owned enterprises exceeded CN¥600 billion]. ncnews.com.cn (in Chinese). Retrieved 10 August 2019.
  4. 1 2 "Jiangling Motors Corporation, Ltd. 2017 Annual Report" (PDF). JMC. pp. 27, 29. Retrieved 1 February 2019 – via Sohu.
  5. 1 2 3 4 5 6 7 Wang, Liang (29 December 2014). "在深层次合作中起步 江西五十铃发展史" [Starting of a deep cooperation, the development history of Jiangxi Isuzu]. autohome.com (in Chinese). Archived from the original on 23 April 2019. Retrieved 3 February 2019.
  6. 1 2 3 4 5 "1947-2017 带你领略江铃集团70年征程料" [1947-2017, taking you to enjoy the 70-year journey of Jiangling Group]. 163.com.com (in Chinese). 26 October 2017. Retrieved 1 February 2019.
  7. ↑ Chen, Haisheng (1 March 2004). "江铃人事地震引发合资变局 福特已萌生退意？" [The Jiangling personnel earthquake triggered a joint venture change. Ford has already retired?]. finance.sina.com.cn (in Chinese). Retrieved 3 February 2019.
  8. 1 2 3 4 5 "他用日本技术实现中国制造，市值200亿却被批为独断专行？" [He used Japanese technology for Chinese manufacturing. A 20 billion market value achievement described as "dictatorship"?]. autohome.com.cn (in Chinese). Retrieved 10 July 2019.
  9. 1 2 "中国企业的新前景" [New prospects on Chinese companies]. Reform Monthly (in Chinese). Hangzhou: Economic System Reform Office of Zhejiang Provincial People's Government (7): 18. 1997. ISSN 1007-6409.
  10. 1 2 3 4 5 1994 中国经济年鉴 [1994 Almanac of China's Economy] (in Chinese). Beijing: Economic Management Publishing House. 1994. p. 692.
  11. ↑ Brautigam, Deborah; Tang, Xiaoyang (2011). "China's Investment in Special Economic Zones in Africa". In Farole, Thomas; Akinci, Gokhan (eds.). Special Economic Zones: Progress, Emerging Challenges, and Future Directions. Washington DC: World Bank. pp. 79–80. ISBN 9780821387634.
  12. ↑ Calabrese, John (31 October 2017). "Sino-Algerian Relations: On a Path to Realizing Their Full Potential?". Middle East Institute. Retrieved 5 November 2019.
  13. ↑ Jonker, Kobus; Robinson, Bryan (2018). "A Skilled and Educated Workforce for Africa". China's Impact on the African Renaissance: The Baobab Grows. Springer. p. 149. ISBN 9789811301797.
  14. ↑ Pairault, Thierry (2019). "China in Africa: Phoenix nests versus Special Economic Zones". CCJ Occasional Papers (7). hal-01968812.
  15. ↑ Toshio, Tajima (2001). "Formation of Chinese-type Industrial Organization and Its Changes in the Process of Transition: A Case Study of Light-duty Truck Industry". In Jiang, Xiaojuan (ed.). China's industries in transition: organizational change, efficiency gains and growth dynamics. Huntington, New York: Nova Science Publishers. pp. 93–94. ISBN 1-560-72906-6.
  16. ↑ Qiu, Ye; Shuai, Yun (29 September 2019). "江西百户国企混改攻坚行动入围企业名单出炉" [Jiangxi released the names of the 100 SOEs shortlisted for mixed ownership reforms]. jx.people.com.cn (in Chinese). Retrieved 2 October 2019.
  17. 1 2 "江铃控股详细资料" [Jiangling Holding details]. auto.ifeng.com (in Chinese). Retrieved 1 February 2019.
  18. ↑ "Landwind". JMCG. Archived from the original on 17 December 2019. Retrieved 1 February 2019.
  19. ↑ Hu, Xinyu (3 April 2019). "江铃汽车控股股东拟变更为江铃投资" [Jiangling Motors' controlling shareholder is planned to be changed to Jiangling Investment]. jrj.com.cn (in Chinese). Retrieved 3 April 2019.
  20. 1 2 Liu, Yang; Zhen, Zhenyu (3 April 2019). "长安汽车拟为江铃控股引入战略投资者" [Changan Automobile intends to introduce strategic investors for Jiangling Holding]. finance.sina.cn (in Chinese). Retrieved 3 April 2019.
  21. ↑ 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.
  22. ↑ Li, Xing (5 June 2019). "爱驰汽车购入江铃控股50%股权 首款量产车已开始生产" [Aiways acquired a 50% equity in Jiangling Holdings. The first production car has started production]. finance.sina.cn (in Chinese). Retrieved 7 June 2019.
  23. ↑ 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.
  24. ↑ "Overseas". Isuzu. Retrieved 1 February 2019.
  25. ↑ "企业简介" [Company info] (in Chinese). Jiangxi Isuzu. Retrieved 3 February 2019.
  26. 1 2 Zhang, Bei (17 July 2019). Duan, Siyao (ed.). "雷诺向江铃集团增资10亿元 控股江铃新能源" [Renault increased capital CN¥1 billion to take control of JMCG's JMEV]. nbd.com (in Chinese). National Business Daily. Retrieved 17 July 2019.
  27. ↑ "Groupe Renault and JMCG announce EV cooperation in China". Automotive News Gasgoo. 20 December 2018. Retrieved 19 January 2019.
  28. ↑ "JMMC Bus Sales Grew by 26% in 2016". China Buses. 7 March 2017. Retrieved 1 February 2019.
  29. ↑ "Introduction". Getrag (Jiangxi). Retrieved 1 February 2019.
  30. 1 2 Li, Yue (19 June 2019). "江铃集团"后勤"体系扩大 江西明芳全面投产" [Jiangling Group's "logistics" system expanded. Jiangxi Mingfang is fully operational]. liuyangshi.cn (in Chinese). Retrieved 21 June 2019.
  31. ↑ "Jiangling Motors signs joint venture cooperation agreement with Hsin Chong". Marklines. 14 March 2018. Retrieved 21 June 2019.
  32. ↑ "公司概况" [Company overview] (in Chinese). Jiangling Motors Group Finance. Retrieved 2 April 2019.
  33. 1 2 3 4 "Company". JMIE. Retrieved 3 April 2019.
  34. ↑ "JMC Launched New Range into South Africa". chinatrucks.com. 5 June 2019. Retrieved 4 November 2019.
  35. ↑ "JMC, la marca china que sorprendió en el salón del automóvil" [JMC, the Chinese marque that surprised at the motorshow]. pulzo.com (in Spanish). 12 July 2016. Retrieved 4 November 2019.
  36. ↑ Berry, Richard (3 February 2015). "Exclusive: JMC set to launch Vigus ute from $23,990". goauto.com.au. Retrieved 4 November 2019.
  37. ↑ "江西江铃专用车辆厂有限公司" [Jiangxi Jiangling Special-purpose Vehicle Co., Ltd.] (in Chinese). JMCG. Retrieved 2 April 2019.
  38. ↑ "江铃集团特种车专用车有限公司" [Jiangling Group Special Vehicle Co., Ltd.] (in Chinese). JMCG. Retrieved 2 April 2019.
  39. ↑ "江西江铃汽车集团改装车股份有限公司" [Jiangxi Jiangling Group Modified Special Vehicle Co., Ltd.] (in Chinese). JMCG. Retrieved 2 April 2019.
  40. ↑ "江铃改装IPO前采购依赖有增无减 房车扩产超销量8倍" [JSV pre-IPO purchase reliance on JMCG affiliates continues to increase. The planned expansion of RV production exceeds sales by 8 times]. finance.sina.com.cn (in Chinese). 31 July 2020. Retrieved 31 July 2020.
  41. ↑ Menon, Shyam G. (13 November 2004). "M&M sees potential for tractor business in China". Business Line. Retrieved 1 February 2019.
  42. ↑ "M&M rolls out tractor from China venture". The Hindu. 3 July 2005. Retrieved 1 February 2019.
  43. 1 2 3 "冲出五环 试驾江铃集团轻汽骐铃T5皮卡" [Rush out the five rings. Test drive of Jiangling Group Light Truck's Qiling T5 pickup]. 12365auto.com (in Chinese). 28 September 2014. Retrieved 1 February 2019.
  44. 1 2 3 4 Wang, Tao (17 September 2018). "大乘新品发布 与江铃、众泰有何渊源？" [Dorcen new products release. Which is the origin of Jiangling and Zotye?]. xcar.com (in Chinese). Retrieved 2 February 2019.
  45. ↑ "JMCGL Qiling T5 pickup truck". ChinaAutoWeb. Retrieved 1 February 2019.
  46. ↑ "JMCGL Qiling T7 pickup truck". ChinaAutoWeb. Retrieved 1 February 2019.
  47. ↑ Jiang, Zhiwen (6 November 2017). "品鉴高端务实派 中国商用汽车网试驾骐铃T100" [Tasting high-end pragmatism. CCVN's Qiling T100 test drive]. cv.ce.cn (in Chinese). Retrieved 1 February 2019.
  48. 1 2 Bottet, Gautier (23 September 2018). "Dorcen, la nouvelle marque chinoise du mois" [Dorcen, the new Chinese marque for the month]. Le Blog Auto (in French). Retrieved 1 February 2019.
  49. ↑ Liu, Yabin (16 April 2019). "骐铃T15亮相上海车展，内饰达豪华SUV级！" [The Qiling T15 debuted at the Shanghai Auto Show and the interior reached the luxury SUV level!]. cnfol.com (in Chinese). Retrieved 16 February 2019.
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