Jiangling Motors

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Not to be confused with Jiangling Motors Corporation Group.
Jiangling Motors Corporation Limited
Public limited company
Traded as SZSE: 000550
Industry Automotive
Predecessor JMCG truck production division
Founded 1993; 32 years ago (1993)
Headquarters Nanchang, Jiangxi, China
Key people
  • Tiangao Qiu (Chairman)
  • Chunying Xiong (President)
Products Automobiles
Production output
 Decrease 281,594 (2022)[1]
Revenue Decrease CN¥30.10 billion (2022)[1]
Increase CN¥0.90 billion (2022)[1]
Increase CN¥0.86 billion (2022)[1]
Total assets Increase CN¥27.47 billion (2022)[1]
Total equity Increase 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
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]

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]

Production

Production bases

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).[14] JMC also has a new energy vehicle plant (the Fushan plant) in the Xiaolan Economic Zone.[15]

Products

JMC (Jiangling)

A brand mainly for commercial vehicles

File:2017 JMC Teshun (front).jpg
A JMC Teshun photographed in Shenzhen, China
A JMC Boarding photographed in Cancun, Mexico
A JMC Yusheng photographed in Shanghai, China
File:JMC Yunba 02 China 2017-03-19.jpg
A JMC Yunba photographed in Dandong, China


Yusheng

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Main article: JMC Yusheng

A brand for passenger vehicles.

Lexing

In June 2023, JMC unveiled Lexing (Chinese: 乐行; pinyin: Lèxíng; literally: "Happy travel"), its first sub-brand aimed to only be used on new energy vehicles, and presented its first model, an electric light truck.[18]

Dadao

A brand for pickup trucks and SUVs. Launched in 2023.[19] Dadao literally translates as "Big road", perhaps implying the chinese concept of Dao.

  • Dadao Mohe
  • Dadao EV (electric pickup truck)[20]
  • JMC Dadao 003.jpg

    Dadao Mohe

Licensed Ford production

Sales

Sales of Jiangling Motors [21]
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.[22]

See also

Notes

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References

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External links

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