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Wuling Motors
Wuling Motors
from Wikipedia

Wuling Motor Holdings., Ltd, (doing business as Wuling Motors; Chinese: 五菱汽车; pinyin: Wǔlíng Qìchē) is a Chinese manufacturer of automobiles, subsidiary of Guangxi Automotive Group.[3] The company produce engines, and special purpose vehicles, namely mini electric cars, people movers, trucks and buses, and auto parts.[4] Its eponymous brand, Wuling, is shared with the SAIC-GM-Wuling joint venture.

Key Information

History

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Liuzhou Wuling Automobile

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The Wuling car brand was established in 1982 by Liuzhou Wuling Automobile, with a focus on the growing demand for small delivery vehicles in the domestic Chinese market during the 1980s. After completing a trial production series in 1982, Wuling commenced full-scale production of its first model, the LZ110, in 1984.[5] This vehicle was developed under a licensing agreement with Mitsubishi Motors, making it a twin design to the third-generation Mitsubishi Minicab.[6]

Building on Mitsubishi's technology, Wuling introduced a successor to the LZ110 in 1990, named the Dragon.[7] Presented as a more modern model, the Dragon was a deeply updated version of the LZ110. In 1998, Wuling launched the LZW6370, a model developed under a licensing agreement with another Japanese manufacturer Daihatsu and based on the Daihatsu Zebra.[8]

SAIC-GM-Wuling and Wuling Group

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In 2002, Wuling entered into a partnership with SAIC Motor and General Motors to form a joint venture called SAIC-GM-Wuling. This joint venture was headquartered in Liuzhou, Guangxi, China, and became responsible for manufacturing all subsequent Wuling brand models.[9][10][11]

In 2007, the Wuling Group gained greater independence and established a new division specializing in trucks and custom-built vehicles. This division operated under the Wuling brand and logo, similar to Wuling's Red Label. In 2015, the Wuling Group underwent a major corporate restructuring, becoming a corporation and rebranding itself as Guangxi Automobile Group.[9]

Leadership

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  • Lee Shing (2006–2022)[12]
  • Song Wei (2023–2025)[1]
  • Yang Jie (2025–present)[1]

Products

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Current models

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Former models (as Liuzhou Wuling)

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Motorcycle

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  • Lingyang (羚羊)
  • A10Y
  • A10N
  • A11G
  • P20
  • A10G
  • A10Y
  • J10
  • J6
  • Jueying (绝影)

Electric bicycle

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  • C1
  • C2

Golf cart

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  • GOLF CAR (4 seat)
  • GOLF CAR (6 seat)
  • GOLF CAR (4+2 seat)
  • GOLF CAR (6+2 seat)

Sightseeing car

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  • WULING WLQ5080 SIGHTSEEING CAR (8 seat)
  • WULING WLD2111 SIGHTSEEING CAR (8 seat)
  • WULING WLQ5110 SIGHTSEEING CAR (11 seat)
  • WULING WLQ5140 SIGHTSEEING CAR (14 seat)
  • WULING WLQL SIGHTSEEING CAR (23 seat)[16]

Subsidiaries and joint ventures

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  • Liuzhou Wuling Motors United Development Co. Ltd.
  • Liuzhou Wuling Special-purpose Vehicle Manufacturing Co. Ltd.
  • Liuzhou Wuling Liuji Power Co. Ltd.
  • Wuling Engine, a division of Wuling Automobile which manufactures Wuling-branded engines for small autos and motorcycles. Some are in cooperation with companies such as Delphi.[17]
  • Liuzhou AAM, a joint venture between Wuling and American Axle & Manufacturing, manufacturing electric drive units, independent rear axles and driveheads.[18]

Wuling Automobile also manufactures generator sets under the "Longward" brand.[19]

References

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Revisions and contributorsEdit on WikipediaRead on Wikipedia
from Grokipedia
Wuling Motors Holdings is a Bermuda-incorporated holding company listed on the (stock code: 305.HK) that primarily engages in the manufacturing, trading, and distribution of automotive components, engines, power systems, and specialized commercial vehicles in . Established in 1992 and headquartered in , the company operates as a of Guangxi Automotive Group Co., Ltd., inheriting over six decades of automotive manufacturing heritage from its parent, which traces back to early tractor and vehicle production in province starting in the late . Originally known as Dragon Hill Wuling Automobile Holdings Limited, it restructured and adopted its current name in June 2011 to reflect its expanded focus on core automotive businesses. It operates notably through the for passenger vehicles and new energy models. Through key subsidiaries like Liuzhou Wuling Motors Co., Ltd., it maintains production bases across —including , , , Jingmen, and —as well as international facilities in and , enabling global supply chain integration. The company's product portfolio includes engines and systems supplied to over 40 major automobile manufacturers, automotive parts for diverse applications, and specialized vehicles such as cars, trucks, people movers, buses, and new energy vehicles tailored for commercial use. It serves more than 10 million end-users with power systems and provides vehicles and related services to over 1 million customers, emphasizing in electric and hybrid technologies. Recognized as a National High-Tech Enterprise in , Wuling Motors ranks among the country's Top 100 Automotive Enterprises and has diversified into trading , securities , and utility services like and to support its operations. In 2024, it reported revenue of approximately 7.95 billion Chinese yuan, reflecting its role in 's evolving automotive sector amid a shift toward sustainable mobility.

History

Founding and early development

Wuling Motors traces its origins to the Liuzhou Tractor Factory in , , established in 1966 and producing tractors since the . In 1984, the factory was renamed the Liuzhou Light Vehicle Factory, marking the start of small vehicle production with the launch of the LZ110 and , initially based on copying efforts before a formal agreement with in 1986. The Wuling brand was officially established in 1987. Initially, the company focused on producing motorcycles, three-wheelers, and basic small trucks, laying the groundwork for its entry into automotive manufacturing amid China's early economic reforms. This shift marked the beginning of Wuling's operations as a key player in lightweight utility vehicles, capitalizing on local needs for affordable transport in rural and urban areas. Building on this foundation, Wuling introduced the Wuling Dragon (Xingwang) pickup in 1990, a successor model based on the fourth-generation design from 1984, which expanded its lineup of utility vehicles tailored for the Chinese market. By 1998, Wuling diversified further with the LZW6370 minivan, based on the Zebra design through a agreement, offering a more spacious option for passenger and cargo transport. During the late , Wuling experienced significant early growth, with annual production of its utility vehicles surpassing 100,000 units, driven by strong domestic demand for reliable minibuses and light trucks. To support this expansion, the company began initial diversification into auto parts manufacturing, including components produced by a dedicated department operational since the late , which enabled in-house assembly and cost efficiencies for its core vehicle lines. This period solidified Wuling's position as a foundational manufacturer of practical vehicles, setting the stage for future partnerships in the early 2000s. Wuling Automobile Industry Co., Ltd. was later established in 2007 as a to formalize and expand these operations.

Joint ventures and restructuring

In 2002, Wuling Automobile Industry Co., Ltd. formed the SAIC-GM-Wuling Automobile Co., Ltd. joint venture with SAIC Motor Corporation Limited holding 50.1%, General Motors Corporation at 34%, and Wuling with 15.9%, marking a pivotal shift toward collaborative of both commercial and passenger vehicles. This partnership enabled the production of models such as the minivan, leveraging SAIC and GM's technology to expand beyond traditional light trucks into passenger car segments. The joint venture's establishment facilitated rapid scaling, with initial investments focusing on facilities in , , to support integrated vehicle assembly and component production. By integrating global expertise, achieved annual output targets exceeding 500,000 units within its first few years, emphasizing affordable, high-volume minivans tailored to China's rural and urban markets. In 2007, a significant separated Wuling's operations into specialized units under a new parent entity, Wuling Motors Group Co., Ltd., to streamline focus areas: passenger vehicles were consolidated under , while s and engines were allocated to distinct subsidiaries like Wuling Motors and Wuling Liuji Power Co., Ltd. This reorganization, involving partial and management-led consolidation, enhanced by isolating production from passenger car activities, allowing targeted investments in each sector. The 2007 changes positioned Wuling Motors as the core entity for s, including minibuses and light trucks, while fostering independence from the passenger-focused . This structure supported expanded production lines, contributing to a group-wide capacity growth that approached 900,000 units by the end of the decade. In June 2011, the listed entity formerly known as Dragon Hill Wuling Automobile Holdings was renamed Wuling Motors Holdings on the (stock code: 00305.HK), reflecting its evolving role in the group's operations. This aligned the public company's identity more closely with its automotive focus, maintaining its established listing status since 1992 while emphasizing holdings in engines, parts, and specialized vehicles. In , Wuling Motors Group underwent a major corporate reorganization, transforming into a state-owned corporation and rebranding as Guangxi Automobile Group Co., Ltd., with Wuling Motors Holdings Limited as a key in which Guangxi Automobile Group holds a 56.54% stake. The restructuring centralized oversight under Guangxi provincial authorities, integrating subsidiaries for better resource allocation across vehicles, engines, and new energy initiatives. These developments significantly boosted production capabilities, elevating the group's annual output from approximately 500,000 units in the early to over 1 million units by the mid-2010s, driven by expanded facilities in and . The joint ventures and reorganizations not only diversified product lines but also positioned Wuling Motors for sustained growth in China's competitive automotive landscape.

Expansion into new energy vehicles

In the mid-2010s, Wuling Motors, through its (SGMW), began shifting toward new energy vehicles () to align with China's growing emphasis on sustainable transportation, leveraging prior collaborations for technology access. Wuling Industrial, a , had been producing electric vehicles since 2008, including sightseeing cars and patrol vehicles. By 2017, it sold around 600 electric vehicles and entered strategic agreements for EV development. This built on earlier efforts, culminating in the establishment of Wuling New Energy Automobile Co., Ltd. in June 2021 as a dedicated for NEV innovation and production under the Guangxi Automobile Group. This entity concentrated on integrating electric powertrains into Wuling's compact vehicle lineup, marking a strategic pivot from traditional internal combustion engines to battery electric and hybrid systems. A pivotal moment came in 2020 with the launch of the , a low-cost battery electric city car designed for urban mobility. Priced affordably and featuring a compact footprint, it quickly gained traction in China's mass market, becoming the country's best-selling NEV model. By , cumulative sales surpassed 1.4 million units, with production reaching the 1.7 millionth unit by August 2025. In 2023, SGMW introduced a dedicated new energy platform tailored for mini EVs and light commercial vehicles, enabling modular designs that improved efficiency, battery integration, and scalability across models like the Hongguang series. This platform supported the development of versatile for both passenger and applications, enhancing Wuling's competitiveness in the commercial segment by optimizing range and capabilities without compromising affordability. The period from 2024 to 2025 saw accelerated diversification, with the launch of the 2025 Wuling Xing Guang sedan, a mid-size electric model offering up to 610 km of range on a 69.2 kWh battery, targeting buyers seeking longer-distance capability. Complementing this, the Starlight S lineup debuted in EV and (PHEV) configurations, providing options with up to 510 km pure electric range and hybrid extensions for broader appeal. In September 2025, Wuling unveiled its new sub-brand "Aishang" under Liuzhou Wuling New Energy, teasing the A100C micro EV—a stylish, youth-oriented with a 220 km range—to further segment the entry-level NEV market. These advancements contributed to a major production milestone in January 2025, when SGMW rolled off its 30 millionth vehicle—a S model—at its plant, becoming the first Chinese automaker to achieve this volume, with NEV sales exceeding 800,000 units in 2024 alone propelling over half of total output. Wuling's NEV strategy has been bolstered by government policies, including alignment with China's dual-credit system, which incentivizes NEV production through tradable credits for exceeding targets and meeting quotas, allowing firms like SGMW to offset deficits via surplus NEV credits earned from models such as the Hongguang Mini EV.

Corporate structure

Ownership and governance

Wuling Motors Holdings Limited is majority owned by , a supervised by the of the Zhuang Autonomous Region in , which holds approximately 56.54% of the company's issued share capital as of September 2025. In September 2025, 80% of 's shares were transferred to Guangxi Guokong Investment Holding Group Co., Ltd., maintaining its in Wuling Motors. The remaining shares are publicly traded on the under stock code 305, with listing commencing on December 13, 2007, and a free float of approximately 32.1% held by the general public and minor institutional investors. This ownership structure stems from a 2011 that integrated Wuling Motors into the broader automotive ecosystem, solidifying state control while enabling market access. The board of directors comprises key executives affiliated with Guangxi Automobile Group, including Yuan Zhijun as Chairman and Yang Jie as , appointed in February 2025, alongside independent non-executive directors such as Xiang Ye to promote balanced oversight and compliance. Other executive directors include Mingfeng Wei and Fengyan Zhu, ensuring alignment with the controlling shareholder's strategic objectives while incorporating external perspectives for decision-making. Wuling Motors maintains governance practices in line with the Stock Exchange's listing rules, emphasizing board independence, risk management, and shareholder rights. The company began formal ESG reporting in 2023, with its inaugural report released in April 2024, highlighting commitments to sustainable manufacturing, emissions reduction, and ethics as part of broader corporate responsibility efforts. Regulatory filings, such as the 2025 interim results announcing a 306% year-over-year net profit increase to RMB 85.8 million, underscore ongoing transparency and to investors.

Subsidiaries

Wuling Motors maintains several wholly or majority-owned subsidiaries primarily based in , , that support its core operations in vehicle , powertrain development, and specialized production. These entities are integral to the group's strategy, handling key aspects of production and innovation under the oversight of parent company Guangxi Automobile Group, which holds a in Wuling Motors. Liuzhou Wuling Automobile Industry Co., Ltd. is a majority-owned with Wuling Motors holding 60.9% ownership, serving as the core manufacturing arm for commercial vehicles and automotive parts. This focuses on the assembly and supply of commercial vehicles, components, and related accessories, contributing significantly to the group's domestic market presence. Liuzhou Wuling New Energy Vehicle Co., Ltd. operates under group control with 13.37% direct ownership by Wuling Motors but effective majority influence through affiliated entities, specializing in the development of batteries, systems, and new energy technologies. It plays a pivotal role in advancing Wuling's transition to sustainable mobility solutions, including research into battery integration for mini electric vehicles. Liuzhou Wuling Motors United Development Co., Ltd. is a majority-owned with approximately 50.97% ownership, dedicated to production and assembly, manufacturing a range of internal combustion and hybrid engines for Wuling's lineup. As of 2024, it achieves an annual output exceeding 500,000 engines, underscoring its capacity to support high-volume production needs. Liuzhou Wuling Special-purpose Vehicle Manufacturing Co., Ltd. functions as a key for producing customized trucks, buses, and special-purpose vehicles tailored to and municipal applications. It emphasizes modular designs for adaptability, enhancing the group's offerings in niche commercial segments. Liuzhou Wuling Liuji Motors Co., Ltd. concentrates on manufacturing components, including generator sets branded under Longward, which are used in both automotive and industrial contexts. This , with 60.90% indirect ownership through Wuling Industrial, supports the group's diversification into reliable power solutions, with production aligned to meet regional demand for durable components.

Joint ventures

SAIC-GM-Wuling Automobile Co., Ltd. is a key in which Wuling Motors holds a 5.9% stake, alongside with 50.1% and with 44%. This collaboration primarily focuses on the development and production of passenger vehicles, including popular electric models such as the . In 2024, the joint venture achieved production of 1.54 million vehicles, marking significant growth in the new energy vehicle segment. Another important partnership is Liuzhou AAM Driveline Systems Co., Ltd., established in 2018 with & Manufacturing Holdings, Inc. This specializes in manufacturing axles and driveline systems for both electric and vehicles, supplying components to SAIC-GM-Wuling's and MPV models. These joint ventures provide Wuling Motors with access to ' global expertise and SAIC Motor's advanced platforms, facilitating technology transfers and enhancing production capabilities. This has enabled expanded exports to , where SAIC-GM-Wuling models have gained traction in emerging markets, contributing to over 1.07 million units exported across 104 countries and regions through August 2024. In 2025, expanded its lineup to include electric vehicle (PHEV) variants, such as the Wuling S, alongside battery electric options, broadening the portfolio for diverse powertrains. Subsidiaries occasionally support these operations by providing complementary resources.

Products

Current automobile models

Wuling Motors' current lineup emphasizes affordable electric and hybrid vehicles tailored for urban mobility and commercial use, with a strong focus on compact designs that prioritize efficiency and low operating costs. As of 2025, the company's active passenger cars, minivans, and light vans include several models that build on its legacy of practical transportation solutions, incorporating updated battery technologies and modular platforms to meet evolving market demands in and select export regions. The Wuling G050, introduced in 2023 and continuing production into 2025, is a compact for urban . The electric version features a 30 kW motor and a battery providing up to 230 km of range, supported by 1-hour fast charging capabilities. Priced under ¥80,000 for base models, the G050 emphasizes high space efficiency and flexibility with 2 seats, making it suitable for intracity deliveries. The Wuling G100, also known as the EV50 in its electric configuration and produced since 2020, is a compact light van designed for with a maximum capacity of approximately 950–990 kg. The EV variant features a 60 kW motor delivering 220 Nm of and a range of up to 301 km, with dimensions of 4.49 m in length allowing for 5.2 cubic meters of volume. This model has been rebadged as the BYD V3 in certain international markets, enhancing its appeal for small business . Launched in 2025, the Wuling Zhiguang New Energy is a 4-seater electric targeted at family-oriented urban users, equipped with a 30 kW rear-mounted motor producing 85 Nm of and a 17.7 kWh battery for a 201 km CLTC-rated range in the base model. Its boxy design offers features like external power discharge, with fast charging from 30% to 80% in 30 minutes, positioning it as an economical choice for daily commuting and light errands. Higher variants provide up to 305 km range. Updates to the Wuling Hongguang series in 2025 include the Mini EV 5-door variant, which features a larger body compared to earlier models while maintaining affordability, with a starting price of ¥32,800 and an extended range of up to 280 km via improved battery options. This four-door hatchback, powered by a compact electric drivetrain, targets young urban drivers seeking low-cost personal mobility, with enhanced interior space and safety features over prior iterations. In 2024, Wuling Mini EV variants, including the Hongguang series, achieved sales of 261,141 units in , underscoring their dominance in the affordable segment and role in promoting accessible urban transportation.

Discontinued automobile models

Wuling Motors' early automobile lineup consisted primarily of affordable, utilitarian vehicles tailored for commercial and rural use in , many of which were license-built or derived from Japanese designs. These models played a pivotal role in establishing the company's reputation for low-cost transportation solutions, but were gradually discontinued as market demands shifted toward more efficient, emissions-compliant, and modern alternatives, including those from joint ventures like . The LZ110 light truck, introduced in 1984, was Wuling's foundational model, produced under license from as a rebadged version of the Minicab microvan and . It served as a basic commercial fleet vehicle for urban and rural , with production continuing into the early before being succeeded by updated designs to meet evolving regulatory standards on emissions and . The pickup, launched around 1990 as the successor to the LZ110, was a cabover-style light equipped with a compact 0.8-liter engine, designed for straightforward cargo transport in rural and applications. It remained in production until the end of 2010, when it was phased out in favor of more versatile minivans amid the joint venture's push for expanded model variety. The LZW6370 , produced from 1998 to around 2003, was a derivative of the Zebra under a licensing agreement, offering seven-seat capacity in a compact, rear-wheel-drive layout suitable for family and commercial shuttling. Its discontinuation aligned with the transition to SAIC-GM-Wuling's integrated production, where it was replaced by the more advanced Sunshine model to better compete in the growing minivan segment. The Wuling Sunshine, an early multi-purpose vehicle (MPV) from the SAIC-GM-Wuling joint venture starting in the early 2000s, provided five- to eight-seat configurations for passenger and light cargo needs, becoming a staple for China's rural entrepreneurs. The original internal combustion engine versions were discontinued in the 2010s as the company pivoted toward new energy vehicles, with electric iterations emerging to address environmental regulations and market trends. In the , these discontinued models dominated Wuling's output, reaching approximately 100,000 units annually by the late decade and capturing a significant share of the mini-vehicle market, particularly in low-cost rural areas where they supported small businesses and farming operations. This focus on economical, durable designs laid the groundwork for Wuling's evolution into contemporary electric and hybrid offerings.

Engines and components

Wuling Motors produces a range of inline-4 engines with displacements from 1.0L to 1.5L, primarily designed for compact vehicles and light commercial applications. These engines, such as the 1.0L naturally aspirated variant delivering approximately 45 kW (61 hp) and the 1.5L naturally aspirated unit producing up to 75 kW, feature multi-port for improved and are commonly deployed in models like the Hongguang series and G100 vans. Their compact design and moderate power output suit urban and rural transport needs, emphasizing fuel economy over high performance. In the electric vehicle segment, Wuling Motors employs permanent magnet synchronous motors rated at 20–30 kW, tailored for mini electric vehicles (EVs). These motors are paired with lithium iron phosphate batteries of 10–20 kWh capacity, enabling a driving range of 200–300 km under CLTC standards, as seen in models like the Hongguang Mini EV. The setup prioritizes affordability and quick charging via household outlets, supporting daily commutes with top speeds around 100 km/h. Key components manufactured by Wuling Motors include axles, transmissions, and systems, with axles sourced through the AAM established in 2018. This partnership produces independent rear axles and drive systems for SUVs, MPVs, and commercial vehicles, achieving a capacity of 1.5 million axle sets annually alongside and stamping products. Transmissions, such as 5-speed manuals and CVTs, complement these for seamless power delivery in both and electric platforms. Engine production is handled primarily by subsidiary Wuling Liuji Power Co., Ltd., which maintains an annual assembly capacity exceeding 600,000 units for traditional gasoline engines. This facility supports flexible manufacturing across multiple models, contributing to Wuling's overall output of over 2 million powertrain sets yearly across its network. Recent innovations include hybrid powertrains introduced in the 2025 Starlight S, featuring the Ling Power 3.0 system that integrates a 1.5L with an for up to 130 km pure electric range and over 1,100 km total. This setup achieves a of 43.2% and combines a 78 kW with a 150 kW motor for enhanced performance in compact SUVs.

Motorcycles and electric bicycles

In the electric bicycle category, Wuling introduced the Lindu series in 2023, focusing on urban commuting with models like the C7, C8, C9, C10, and C11. These e-bikes utilize lead-acid or lithium-ion batteries ranging from 48V to 72V and 12Ah to 20Ah capacities, delivering ranges of 35 to 95 km per charge depending on the model and battery option. Motors vary from 350W in entry-level variants like the C7 to 400W in higher trims such as the C11, equipped with drum brakes, remote alarms in select models, and controllers supporting efficient power delivery. Priced between ¥2,000 and ¥4,000, the C1 and C2 variants cater to short-distance personal use, while the series overall prioritizes lightweight frames and simple designs for everyday reliability in Chinese cities and Southeast Asian markets. Wuling also produces three-wheeled cargo variants for , including the RN112 model powered by a 200cc , designed for heavy-duty in urban and rural settings. These support domestic operations in and exports to , highlighting robust construction and low operating costs to meet affordability demands in emerging markets. In , Wuling integrated elements of its Ling OS smart into select e-bike models, enabling basic connectivity features like app-based monitoring for battery status and ride data.

Specialty vehicles

Wuling Motors produces a range of specialty vehicles tailored for leisure, tourism, and niche transportation needs, including electric carts designed for environments. These include 4-seat and 6-seat electric models equipped with 48V batteries, offering a top speed of 25 km/h to ensure safe and controlled operation on courses and similar venues. The company's sightseeing cars cater to group , featuring models such as the WLQ5080 with 8 seats, the WLQ5140 with 14 seats, and the WLQL with 23 seats, available in both electric and variants for flexibility in various scenic sites. These vehicles emphasize comfort and reliability for passenger transport in tourist areas, with customizable features to meet specific operational requirements. Low-speed vehicles like the EV-based Wuling Hongtu serve as people movers for short-distance group travel, accommodating 4 to 8 seats and providing approximately 50 km of range, ideal for or shuttling. Production of these specialty vehicles occurs through a dedicated , Liuzhou Wuling Special Vehicle Manufacturing, with an annual capacity of 50,000 units and a strong emphasis on customization to address diverse market demands. In 2025, Wuling integrated the MAGIC Battery Pro into its sightseeing models, enhancing range capabilities by leveraging advanced electric technologies derived from broader new energy vehicle developments. This upgrade supports extended operational durations in applications while maintaining the vehicles' focus on and low emissions.

Operations and markets

Manufacturing and facilities

Wuling Motors' primary manufacturing facility is located in , , . This plant serves as the core hub for the company's vehicle assembly, engine manufacturing, and component integration, supporting commercial models and power systems. Additional production sites include facilities in , , for component and engine manufacturing, and a plant in operated through Wuling Motors Indonesia for assembly. The company also maintains a production base in . These sites employ standardized processes to ensure quality consistency. Key operational processes feature automated systems and modular platforms for production flexibility.

Financial performance

Wuling Motors reported of RMB 7.95 billion in 2024, a 24.2% year-over-year decrease. was primarily from automotive components (60%), systems (22%), vehicles (9%), and others (9%). For the first half of 2025, was RMB 4.03 billion, up 2% year-over-year, with net profit attributable to owners of RMB 39.4 million, a 306% year-over-year increase resulting from cost efficiencies. In 2024, the company's was 10.8%, while its was approximately 0.98, bolstered by state backing. The period from 2020 to 2025 showed varying profitability, with challenges in 2023 from disruptions including chip shortages, mitigated by localization efforts.

Global expansion and exports

Wuling Motors has expanded globally through exports and localized production, focusing on emerging markets in and others. In 2024, exports included commercial vehicles to , the , , , , and . This reflects the strategy to supply affordable vehicles and components internationally. A key part of this expansion is Wuling Motors Indonesia, established in 2015, with a facility in , , for assembly of commercial vehicles and components to meet local requirements and support exports. The company maintains strategic partnerships, including with through joint ventures, for distribution. Wuling aims to increase its international presence, with exports to represent a growing portion of business.

References

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