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Jiangling Motors

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]

Jiangling Motors Corporation Limited
Company typePublic limited company
SZSE: 000550
IndustryAutomotive
PredecessorJMCG truck production division
Founded1993; 31 years ago (1993)
Headquarters
Nanchang, Jiangxi
,
China
Key people
  • Tiangao Qiu (Chairman)
  • Chunying Xiong (President)
ProductsAutomobiles
Production output
Decrease 281,594 (2022)[1]
RevenueDecrease CN¥30.10 billion (2022)[1]
Increase CN¥0.90 billion (2022)[1]
Increase CN¥0.86 billion (2022)[1]
Total assetsIncrease CN¥27.47 billion (2022)[1]
Total equityIncrease 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
Websitejmc.com.cn

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

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

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.[18]

Dadao

A brand for pickup trucks and SUVs. Launched in 2023.[19]

  • Dadao Mohe
  • Dadao EV (electric pickup truck)[20]
  • Dadao Mohe

Licensed Ford production

Sales

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

Sales of Jiangling Motors [21]
YearTotalJMCYushengJMC Heavy DutyFord
2010178,999126,641--52,358
2011194,588135,993--58,595
2012200,008134,4858,346-57,177
2013230,006148,06114,16039267,785
2014275,858177,03626,7083872,076
2015262,756165,51219,6513377,560
2016281,019163,21937,3465280,402
2017310,028211,67229,15163668,569
2018285,066218,2576,8921,51658,401
2019290,058189,3171,5511,08098,110
2020331,098undisclosed
2021341,008undisclosed
2022282,008undisclosed
2023310,008undisclosed

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.[22]

See also

Notes

References

Wikimedia Commons has media related to Jiangling Motor.
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