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).
7-594: 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
14-627: 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. A brand mainly for commercial vehicles A brand for passenger vehicles. 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. A brand for pickup trucks and SUVs. Launched in 2023. In January 2022, Ford and JMC announced
21-720: Is merely a distribution channel brand, its product are sourced from JMC or directly imported. 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. The following table includes a list of annual sales according to company's data. Although Jiangling Motor
28-534: 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. As of 2021,
35-486: 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
42-600: 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 . 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. As of May 2023, JMC Heavy Duty Vehicle production and sales are suspended. In December 2021, JMC and Ford established
49-480: The largest overseas market by volume for JMC is Chile. 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) and Ford the design. In 1998, after JMC issued additional B shares, Ford upped its stake to 30%. In 2013, Ford purchased more B shares, increasing its stake to over 30%. In late 2010, Jiangling released
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