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Jiangling Motors Corporation Group
Jiangling Motors Corporation Group Co., Ltd. (JMCG) is a Chinese state-owned holding mostly operating in the automotive industry. It was established in 1947 and is headquartered in Nanchang, Jiangxi.
JMCG has various production facilities and, through shareholdings, maintains partnerships with other automotive manufacturers including Ford, Isuzu and Changan.
On 8 April 1947, JMCG was established as Nanchang Automotive Maintenance Plant. In April 1949, Nanchang Automotive Maintenance Plant was renamed as Nanchang Automotive Repairing Plant. In May 1958, it produced Yingxiong-bagded (Chinese: 英雄; pinyin: Yīngxióng; lit. 'Hero') three-wheeled vehicles. In the same year, it produced a 2.5-tonne Yingxiong truck. In 1968, it was renamed Jiangxi Automotive Manufacturing Plant and started the mass-production of commercial vehicles, mostly Jinggangshan-badged (Chinese: 井冈山; pinyin: Jǐnggāngshān; lit. 'Well Ridge Mountains') light trucks using 1940s Soviet technology. In 1969, it also produced a small number of cars. The company focused production on commercial vehicles, although it had a net financial loss until the 1980s.
As the Chinese economy opened up, Jiangxi Automotive Manufacturing Plant found increasingly difficult to compete with more modern, better-quality foreign products. The manufacturing plant had to cut its prices to keep on selling, worsening its financial situation. By 1983, the company had an accumulated loss of CN¥56 million while the total value of its assets was less than CN¥10 million. That year, Sun Min became the company chief and started a turnaround plan focused on increasing efficiency and streamlining operations. In 1984, after improving the Jinggangshan trucks and increasing sales volume, the company posted its first profit in sixteen years. During the 1980s the company also began a partnership with Isuzu of Japan to produce light and medium trucks. From 1989 to 1992, Jiangxi Automotive Manufacturing Plant merged and reorganised Jiangxi Trailer Plant, Nanchang Sewing Machine Plant, Jiangxi Washing Machine Plant, Jiangxi Steel Window Plant, Fuzhou Chassis Plant and Zhangzhou Gearbox Plant and other companies. Jiangling Motors Corporation Group was formally established in 1991. In 1993, the company structure was reorganised and simplified and its truck business was spun off and listed on the Shenzhen Stock Exchange as Jiangling Motors Corporation (JMC). Ford Motor Company became a partner of JMCG by acquiring a significant stake in JMC.
Failed Algerian project
By 2007, JMCG had a strong presence in the Algerian market through JMC products, with a third of the automotive sales in the country. JMCG partnered with Zhongding (Pingxiang Coal Group), another Nanchang company, and bidded for an Algerian special economic zone. The zone was approved and received the name Algeria-China Jiangling Free Trade Zone. The aim of the zone was to attract Jiangxi companies centred on the automotive and construction materials industries. The zone was never completed as the Algerian government enacted laws forcing majority stakes for the local companies participating in special economic zones and incentivating full vehicle manufacturing instead of only final assembly as intended by the Chinese. The Algerian government also wanted Algerian subcontractors on the project, while the Chinese companies preferred Chinese ones.
From its establishment onwards, JMCG has been a wholly state-owned enterprise (SOE) controlled by Nanchang's municipal planning. Until 1993, JMCG's assets were owned directly by the state. That year, it was incorporated as a limited company, although still state-owned. In September 2019, Jiangxi's State-owned Assets Supervision and Administration Committee announced it had included JMCG in a list of SOEs incorporating investors from the private sector by 2021, as part of mixed economy reforms.
Jiangling Motor Holding Co. Ltd. or JMH (Chinese: 江西江铃控股有限公司; pinyin: Jiāngxī Jiānglíng Kònggǔ Yǒuxiàn Gōngsī) was a joint venture established in October 2004 and controlled equally by the state-owned enterprises Changan and JMCG. To create Jiangling Motor Holding, Changan invested money and in exchange JMCG transferred its JMC equity to the venture. Jiangling Motor Holding was the largest shareholder of JMC, with a 41.03% stake as of March 2018. JMH also owned the Landwind marque.
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Jiangling Motors Corporation Group
Jiangling Motors Corporation Group Co., Ltd. (JMCG) is a Chinese state-owned holding mostly operating in the automotive industry. It was established in 1947 and is headquartered in Nanchang, Jiangxi.
JMCG has various production facilities and, through shareholdings, maintains partnerships with other automotive manufacturers including Ford, Isuzu and Changan.
On 8 April 1947, JMCG was established as Nanchang Automotive Maintenance Plant. In April 1949, Nanchang Automotive Maintenance Plant was renamed as Nanchang Automotive Repairing Plant. In May 1958, it produced Yingxiong-bagded (Chinese: 英雄; pinyin: Yīngxióng; lit. 'Hero') three-wheeled vehicles. In the same year, it produced a 2.5-tonne Yingxiong truck. In 1968, it was renamed Jiangxi Automotive Manufacturing Plant and started the mass-production of commercial vehicles, mostly Jinggangshan-badged (Chinese: 井冈山; pinyin: Jǐnggāngshān; lit. 'Well Ridge Mountains') light trucks using 1940s Soviet technology. In 1969, it also produced a small number of cars. The company focused production on commercial vehicles, although it had a net financial loss until the 1980s.
As the Chinese economy opened up, Jiangxi Automotive Manufacturing Plant found increasingly difficult to compete with more modern, better-quality foreign products. The manufacturing plant had to cut its prices to keep on selling, worsening its financial situation. By 1983, the company had an accumulated loss of CN¥56 million while the total value of its assets was less than CN¥10 million. That year, Sun Min became the company chief and started a turnaround plan focused on increasing efficiency and streamlining operations. In 1984, after improving the Jinggangshan trucks and increasing sales volume, the company posted its first profit in sixteen years. During the 1980s the company also began a partnership with Isuzu of Japan to produce light and medium trucks. From 1989 to 1992, Jiangxi Automotive Manufacturing Plant merged and reorganised Jiangxi Trailer Plant, Nanchang Sewing Machine Plant, Jiangxi Washing Machine Plant, Jiangxi Steel Window Plant, Fuzhou Chassis Plant and Zhangzhou Gearbox Plant and other companies. Jiangling Motors Corporation Group was formally established in 1991. In 1993, the company structure was reorganised and simplified and its truck business was spun off and listed on the Shenzhen Stock Exchange as Jiangling Motors Corporation (JMC). Ford Motor Company became a partner of JMCG by acquiring a significant stake in JMC.
Failed Algerian project
By 2007, JMCG had a strong presence in the Algerian market through JMC products, with a third of the automotive sales in the country. JMCG partnered with Zhongding (Pingxiang Coal Group), another Nanchang company, and bidded for an Algerian special economic zone. The zone was approved and received the name Algeria-China Jiangling Free Trade Zone. The aim of the zone was to attract Jiangxi companies centred on the automotive and construction materials industries. The zone was never completed as the Algerian government enacted laws forcing majority stakes for the local companies participating in special economic zones and incentivating full vehicle manufacturing instead of only final assembly as intended by the Chinese. The Algerian government also wanted Algerian subcontractors on the project, while the Chinese companies preferred Chinese ones.
From its establishment onwards, JMCG has been a wholly state-owned enterprise (SOE) controlled by Nanchang's municipal planning. Until 1993, JMCG's assets were owned directly by the state. That year, it was incorporated as a limited company, although still state-owned. In September 2019, Jiangxi's State-owned Assets Supervision and Administration Committee announced it had included JMCG in a list of SOEs incorporating investors from the private sector by 2021, as part of mixed economy reforms.
Jiangling Motor Holding Co. Ltd. or JMH (Chinese: 江西江铃控股有限公司; pinyin: Jiāngxī Jiānglíng Kònggǔ Yǒuxiàn Gōngsī) was a joint venture established in October 2004 and controlled equally by the state-owned enterprises Changan and JMCG. To create Jiangling Motor Holding, Changan invested money and in exchange JMCG transferred its JMC equity to the venture. Jiangling Motor Holding was the largest shareholder of JMC, with a 41.03% stake as of March 2018. JMH also owned the Landwind marque.