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Jiangling Motors

Chinese automobile manufacturer

Jiangling Motors

Chinese automobile manufacturer

FieldValue
nameJiangling Motors Corporation Limited
logoJMC Motor logo.png
logo_size100
predecessorJMCG truck production division
typePublic
traded_as
foundation
divisions
location_cityNanchang, Jiangxi
location_countryChina
key_people
num_employees12,339 (December 2022)
owners{{ublNanchang Jiangling Investment Co., Ltd. (41.03%)Jiangling Investment is an equally-owned holding whose ultimate controllers are the Nanchang State-owned Assets Supervision and Administration Committee and the SASAC.
Ford Motor Company (32%)}}<ref nameAR
industryAutomotive
productsAutomobiles
production281,594 (2022)
revenue(2022)
operating_income(2022)
net_income(2022)
assets(2022)
equity(2022)
homepage
subsid
module

|Ford Motor Company (32%)}} 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)

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.{{cite web|title=江铃重汽 |url=https://product.360che.com/intro/17.html |trans-title=Jiangling Heavy Vehicle |language=zh |website=360che.com |access-date=4 April 2019}} 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. , 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.

Corporate Leadership

Chairmen

  • Wang Xigao (2010–2017)
  • Qiu Tiangao (2017–present)

Chief Executive Officers/CEOs

  • Sun Min (1993–2003)
  • Yuan-Ching Chen (2005–2019)
  • Wen Tao Wang (2019)
  • Wong Manto (2019–2021)
  • Xiong Chunying (2021–present)

Products

JMC (Jiangling)

A brand mainly for commercial vehicles

  • JMC Teshun – Van
  • JMC Fushun – Van
  • Jiangling CV9 minivan
  • JMC BaoWei (SUV)
  • 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) – light trucks series （Up to 6 tons）
    • JMC Conquer (Kairui and Kairui 800)
    • JMC Carrying (Kaiyun)
    • JMC Shunda
    • JMC Shunda EV
  • JMC medium-duty truck series （Up to 14 tons）
    • JMC Convey (Kaiwei)
  • JMC Yunba (commercial van)
  • JMC E-Lushun (electric van for logistics)
  • JMC E-Lushun V6 (BEV van)
  • JMC E-Fushun (electric van)

File:2017_JMC_Teshun_(front).jpg|JMC Teshun File:JMC Fushun 007.jpg|JMC Fushun File:Jiangling Baowei 002.jpg|JMC Baowei File:20230119 JMC Kairui truck of China Post.jpg|JMC Kairui File:JMC Kaiyun IMG003.jpg|JMC Kaiyun File:JMC_Yunba_02_China_2017-03-19.jpg|JMC Yunba File:JMC E-Lushun 001.jpg|JMC E-Lushun File:JMC E-Lushun V6 001.jpg|JMC E-Lushun V6 File:JMC E-Fushun 003.jpg|JMC E-Fushun

Yusheng

Main article: JMC Yusheng

A brand for passenger vehicles.

  • Yusheng S330 CUV
  • Yusheng S350 SUV

File:JMC Yunsheng S330 facelift 8.14.18.jpg|Yusheng S330 File:JMC Yusheng S350 at a gas station front.jpg|Yusheng S350

Lexing

In June 2023, JMC unveiled Lexing (), its first sub-brand aimed to only be used on new energy vehicles, and presented its first model, an electric light truck.

  • Lexing E-Road

File:JMC Lexing E Luda 001.jpg|Lexing E-Road

Dadao

A brand for pickup trucks and SUVs. Launched in 2023.

  • Dadao Mohe
  • Dadao EV (electric pickup truck)

File:JMC Dadao 007.jpg|Dadao Mohe

Ford

  • 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 Equator
  • Ford Equator Sport
  • Ford Everest (Discontinued)
  • Ford Bronco New Energy
  • Ford Territory (Export)

File:Ford Equator PHEV facelift 001.jpg|Ford Equator File:Ford Equator Sport 007.jpg|Ford Equator Sport File:FORD EVEREST (U375,UA) China (4).jpg|Ford Everest File:2018 JMC-Ford Territory (front).jpg|Ford Territory File:Ford Bronco New Energy 004.jpg|Ford Bronco New Energy

Joint venture

The logo of Ford Beyond

In January 2022, Ford and JMC announced the establishment of Jiangling Ford Automobile Technology (Shanghai) Co., Ltd, a 49:51 joint venture to distribute Ford brand's passenger vehicle in China under Ford Beyond brand. Since Ford Motor Company holds a 32% stake in JMC, the controlling shareholder of the joint venture, after equity piercing, Ford actually holds 65.32% of the company's shares, making it a substantially foreign-controlled enterprise.

The Ford Beyond is merely a distribution channel brand, its product are sourced from JMC or directly imported.

Ford Beyond product

  • Ford Ranger
  • Ford Bronco
  • Ford Bronco New Energy
  • Ford Equator
  • Ford Equator Sport/Territory
  • Ford Raptor (imported)

Production

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.

Sales

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

YearTotalJMCYushengJMC Heavy DutyFord2010201120122013201420152016201720182019202020212022202320242025
178,999126,641--52,358
194,588135,993--58,595
200,008134,4858,346-57,177
230,006148,06114,16039267,785
275,858177,03626,7083872,076
262,756165,51219,6513377,560
281,019163,21937,3465280,402
310,028211,67229,15163668,569
285,066218,2576,8921,51658,401
290,058189,3171,5511,08098,110
331,098undisclosed
341,008undisclosed
282,008undisclosed
310,008undisclosed
341,208undisclosed
377,253undisclosed

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.

Notes

References

References

  1. "Jiangling Motors Corporation, Ltd. 2022 Annual Report". JMC.
  2. Jian, Jianru. (30 May 2019). "江铃汽车和长安汽车共同成立投资公司 注册资本10亿元".
  3. Xing, Lei. (6 June 2019). "AIWAYS Acquires 50 Percent Stake In Jiangling Holding For Nearly ￥1.75 Billion". China Automotive Review.
  4. Gallagher, Kelly Sims. (2006). "China Shifts Gears: Automakers, Oil, Pollution, and Development". MIT Press.
  5. (2014). "Doing Business in China". Juris Publishing.
  6. (2000). "How to Enter China". University of Michigan Press.
  7. (27 December 2021). "JMC's sales in Chile jumped 300% YoY in 2021". China Trucks.
  8. (5 December 2010). "JMC, a Ford Partner, Releases First Passenger Car–Yusheng SUV". ChinaAutoWeb.com.
  9. Zhang, Yushuo. (24 August 2021). "Volvo buys Jiangling Motors' unit to start making heavy-duty trucks in China". Yicai Global.
  10. (24 May 2023). "江铃汽车：江铃重汽已暂停生产和销售，坚定新能源转型". Automotive News Gasgoo.
  11. (28 December 2021). "江铃福特共同成立汽车新公司 注册资本2亿". Caijing.
  12. https://pdf.dfcfw.com/pdf/H2_AN201203010004661139_1.pdf%23:~:text%3DChairman%2520Wang%2520Xigao%252C%2520President%2520Yuan%252DChing%2520Chen%252C%2520CFO,Financial%2520Reporting%2520Standards%2520(%27IFRS%27)%2520unless%2520otherwise%2520specified.&ved=2ahUKEwjuqqeaidyQAxX9lZUCHYAeMosQ1fkOegYIAQgLEBg&opi=89978449&cd&psig=AOvVaw3CX9U-m1BX_wR3TxrwNxpf&ust=1762468571517000
  13. https://carnewschina.com/2023/06/25/the-big-read-jiangling-1-3-sunny-days/
  14. http://static.cninfo.com.cn/finalpage/2006-04-08/16866928.PDF%23:~:text%3DImportant%2520Note.%2520The%2520Board%2520of%2520Directors%2520and,this%2520Annual%2520Report%2520is%2520truthful%2520and%2520complete.&ved=2ahUKEwjuqqeaidyQAxX9lZUCHYAeMosQ1fkOegYIAQgLECo&opi=89978449&cd&psig=AOvVaw3CX9U-m1BX_wR3TxrwNxpf&ust=1762468571517000
  15. https://www.bloomberg.com/profile/person/15393730&ved=2ahUKEwjuqqeaidyQAxX9lZUCHYAeMosQ1fkOegYIAQgLEC0&opi=89978449&cd&psig=AOvVaw3CX9U-m1BX_wR3TxrwNxpf&ust=1762468571517000
  16. (18 July 2023). "上海：江铃汽车顺达EV 近期最高降1.0万". PC auto.
  17. "江铃汽车股份有限公司 - 车型子页".
  18. (16 June 2023). "驶入新赛道，江铃发布乐行新能源品牌，全球上市纯电轻卡E路达". Sohu Auto.
  19. "Ecoboost发动机 江铃全新品牌大道发布".
  20. "江铃汽车股份有限公司 - 车型子页".
  21. "Ford and JMC Launch Passenger Vehicle Joint Venture in China {{!}} China {{!}} English {{!}} Ford Media Center".
  22. "Ford, Jiangling form China joint venture to sell SUVs, vans".
  23. "公司简介". JMC.
  24. (10 September 2021). "江铃汽车富山工厂全面投产". Jiangxi News.
  25. "江铃汽车(000550) - 财务报告 - 股票行情中心 - 搜狐证券".
  26. "Investor Information".
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