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JAC Group
JAC Group (Chinese: 江汽集团; officially Anhui Jianghuai Automobile Group Corp., Ltd.) is a Chinese automobile and commercial vehicle manufacturer. The company is based in Hefei, China.
The company produced about 524,000 units in 2021, including 271,800 commercial vehicles and 252,500 passenger vehicles. It also sold 16,800 battery electric vehicles (BEVs) in December 2021.
Established in 1964 as Hefei Jianghuai Automobile Factory, its name was changed to Anhui Jianghuai Automobile Co., Ltd. in 1997. The company launched their stock on the Shanghai Stock Exchange in 2001.
JAC has historically only produced commercial trucks under the brand name Jianghu, but released multi-purpose vehicles (MPV) and sports utility vehicles (SUV) in the 2000s. By 2007, the company had gained government approval for passenger car production but continued to manufacture predominately trucks. Prior to the acquisition of a passenger car license, JAC cooperated with Hyundai Motor Company in the early 2000s in an attempt to expand its product line.[citation needed] Starting in 2003, the company assembled Hyundai MPVs, although this stopped before 2007. At least two models based on Hyundai technology continued to be made by JAC after the collaboration halted–an MPV and a SUV. Hyundai reportedly explored setting up a joint venture with the company in 2004.
In 2009, the Chinese government indicated that it supported consolidation in the Chinese auto industry, leading analysts to predict the possibility of JAC joining with Chery since they are both located in Anhui province. However, JAC confirmed that it was not interested in consolidation. JAC has begun to concentrate more on passenger cars, and a 2010 announcement of a new electric vehicle program may—at least partially—have been an effort to stave off the rumored merger.
Sales reached more than 445,000 units in 2012.
In 2013 it was one of the top ten most-productive vehicle manufacturers in China selling 458,500 units for 2.5% market share and reaching eighth place. JAC dropped one spot to ninth in 2011 making nearly 500,000 vehicles, and in 2012 a fall in units produced to about 445,000 precipitated the company's moving down one more rung to tenth place. Estimated production capacity is over 500,000 units/year as of 2009.
In 2014, JAC Motors announced its full acquisition of JAC Group. The new company was traded as JAC Motors in the stock market but operated in the name of JAC Group.
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JAC Group
JAC Group (Chinese: 江汽集团; officially Anhui Jianghuai Automobile Group Corp., Ltd.) is a Chinese automobile and commercial vehicle manufacturer. The company is based in Hefei, China.
The company produced about 524,000 units in 2021, including 271,800 commercial vehicles and 252,500 passenger vehicles. It also sold 16,800 battery electric vehicles (BEVs) in December 2021.
Established in 1964 as Hefei Jianghuai Automobile Factory, its name was changed to Anhui Jianghuai Automobile Co., Ltd. in 1997. The company launched their stock on the Shanghai Stock Exchange in 2001.
JAC has historically only produced commercial trucks under the brand name Jianghu, but released multi-purpose vehicles (MPV) and sports utility vehicles (SUV) in the 2000s. By 2007, the company had gained government approval for passenger car production but continued to manufacture predominately trucks. Prior to the acquisition of a passenger car license, JAC cooperated with Hyundai Motor Company in the early 2000s in an attempt to expand its product line.[citation needed] Starting in 2003, the company assembled Hyundai MPVs, although this stopped before 2007. At least two models based on Hyundai technology continued to be made by JAC after the collaboration halted–an MPV and a SUV. Hyundai reportedly explored setting up a joint venture with the company in 2004.
In 2009, the Chinese government indicated that it supported consolidation in the Chinese auto industry, leading analysts to predict the possibility of JAC joining with Chery since they are both located in Anhui province. However, JAC confirmed that it was not interested in consolidation. JAC has begun to concentrate more on passenger cars, and a 2010 announcement of a new electric vehicle program may—at least partially—have been an effort to stave off the rumored merger.
Sales reached more than 445,000 units in 2012.
In 2013 it was one of the top ten most-productive vehicle manufacturers in China selling 458,500 units for 2.5% market share and reaching eighth place. JAC dropped one spot to ninth in 2011 making nearly 500,000 vehicles, and in 2012 a fall in units produced to about 445,000 precipitated the company's moving down one more rung to tenth place. Estimated production capacity is over 500,000 units/year as of 2009.
In 2014, JAC Motors announced its full acquisition of JAC Group. The new company was traded as JAC Motors in the stock market but operated in the name of JAC Group.