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).
Wiki English | |||||||
Company type | Public limited company | ||||||
---|---|---|---|---|---|---|---|
SZSE: 000550 | |||||||
Industry | Automotive | ||||||
Predecessor | JMCG truck production division | ||||||
Founded | 1993 | ||||||
Headquarters | , China | ||||||
Key people |
| ||||||
Products | Automobiles | ||||||
Production output | 281,594 (2022) | ||||||
Revenue | CN¥30.10 billion (2022) | ||||||
CN¥0.90 billion (2022) | |||||||
CN¥0.86 billion (2022) | |||||||
Total assets | CN¥27.47 billion (2022) | ||||||
Total equity | CN¥9.24 billion (2022) | ||||||
Owners |
| ||||||
Number of employees | 12,339 (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 | ||||||
| |||||||
Website | jmc.com.cn |
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. 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[update], 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[update], 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.
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.
A brand mainly for commercial vehicles
A brand for passenger vehicles.
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.
A brand for pickup trucks and SUVs. Launched in 2023. Dadao literally translates as "Big road", perhaps implying the chinese concept of Dao.
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 |
Though Jiangling Motor is a public-listed company which Ford holds minority of its stake, the sales volume of Jiangling Motor, including Ford and non-Ford brands, are all consolidated into Ford.
This article uses material from the Wikipedia English article Jiangling Motors, which is released under the Creative Commons Attribution-ShareAlike 3.0 license ("CC BY-SA 3.0"); additional terms may apply (view authors). Content is available under CC BY-SA 4.0 unless otherwise noted. Images, videos and audio are available under their respective licenses.
®Wikipedia is a registered trademark of the Wiki Foundation, Inc. Wiki English (DUHOCTRUNGQUOC.VN) is an independent company and has no affiliation with Wiki Foundation.