Changfeng Motor
Subsidiary of Guangzhou Automobile Group | |
Industry | Automotive |
Founded | 1950 (Original establishment) 1996 (CMC establishment) |
Headquarters | Changsha, Hunan, China |
Products | Automobiles |
Website | GAC Changfeng Motors Official website (Chinese) |
Changfeng Motor | |||||||
Simplified Chinese | 广汽长丰汽车股份有限公司 | ||||||
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Traditional Chinese | 廣汽長豐汽車股份有限公司 | ||||||
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GAC Changfeng Motor Co Ltd[1] is a Chinese automobile manufacturer wholly owned by GAC Group but originated as a branch of the People's Liberation Army. Changfeng produces mainly light trucks, and as of 2008 the majority of their sales have been to the Chinese state.
The company has manufactured license built Mitsubishi Pajero copies sold in China under the Mitsubishi brand as well as Pajero variations that bear the brand name Lièbào, which means cheetah.[2][3] They also offer three variations of Mitsubishi pickups: Fine, Flying, and Kylin.[4] The latter takes its name from a mythical Chinese beast, the qilin.
Contents
History
Changfeng has its origins in No.7319 Factory,[5] which was a small repair facility for military equipment.[6] Production of SUVs (license built Beijing BJ2020s) began in 1988, and in 1996 the name of the company was changed to Changfeng Auto Manufacturing. Until 1996, the company was a commercial affiliate of the People's Liberation Army (PLA).[7] The 1991 Mitsubishi Pajero has been built by Changfeng since 1995.[5] The company has exclusively produced light trucks.[4]
Presaging a 2012 merger with GAC Group, in 2009 its legal name was changed from Hunan Changfeng Motor Co to GAC Changfeng Motor Co Ltd.[8]
- Acquisition by GAC Group
Prior a minority shareholder with only 29% ownership,[9] GAC Group took control of Changfeng[10] in 2012 after a long run-up dating from 2009[11] that included promises to turn the company into a joint venture with Mitsubishi.[9] Previously, 22% of the company was owned by Changfeng Group[12] and another 15% by Mitsubishi.[11] These stakes were sold in 2011.[10] As a result of being acquired by GAC, the company was delisted from the Shanghai stock exchange from March 20, 2012.[citation needed]
During the acquisition process, Changfeng's Shanghai listed stock fluctuated wildly leading to its suspension from October 28, 2010 until sometime after March 17, 2011.[13]
In late 2010, Mitsubishi and Guangzhou Automobile Group signed a memorandum of understanding to set up a new equally owned joint venture by restructuring Changfeng.[14] Although this would have required Mitsubishi to increase its ownership to fifty percent,[9] in 2011 Mitsubishi sold its entire stake in the company, instead.[10]
In 2011, it was reported that GAC would take control of Changfeng's Lièbào brand, which markets SUVs based on the Mitsubishi Pajero built in Changsha and Yongzhou. Production in Changsha was to be discontinued after the transfer to GAC.[15]
- State as primary customer
Originally a company associated with the PLA, it has historically manufactured primarily for Chinese state use. As of 2008 most sales, close to seventy percent,[16] were to police, military, and other government agencies.[17]
Mitsubishi
Since 1995, Changfeng has produced license-built Mitsubishi vehicles for both military and civilian use,[18] and until 2011 this Japanese automaker held 15% ownership of the company.[10]
Passenger car
The company premiered a concept car at the 2009 Auto Shanghai, and a sedan, the CP2, was revealed at the 2011 Shanghai Autoshow.[19]
Export
While most of Changfeng's sales are domestic, since 2006 the company has also exported vehicles to Russia,[17] the Southeast Asia, Middle East, and Africa.[20] Such exports are most likely to be of a nominal nature.
Production bases
Changfeng has assembly plants in Yangzi, Anhui province, Changsha, and Yongzhou, Hunan province; component factories in Hengyang, Hunan, and in Huizhou, Guangdong province.[4]
Sales
It was reported that the company sold between 30,000 to 50,000 vehicles a year from 2009 to 2011.[21]
References
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Guangzhou Auto Acquires Small SUV Maker Changfeng Motor chinabuses.com, 2009-05-31
- ↑ Pajero Changfeng Official Site (Web Archive)
- ↑ 4.0 4.1 4.2 Lua error in package.lua at line 80: module 'strict' not found.
- ↑ 5.0 5.1 Lua error in package.lua at line 80: module 'strict' not found.
- ↑ The Chinese are coming! Superexcellent! Changfeng is latest Chinese automaker with U.S. dreams motortrend.com, January 9, 2007
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ 9.0 9.1 9.2 Lua error in package.lua at line 80: module 'strict' not found.
- ↑ 10.0 10.1 10.2 10.3 Lua error in package.lua at line 80: module 'strict' not found.
- ↑ 11.0 11.1 Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Lagging far behind, Mitsubishi looks to new joint partnership peopledaily.com.cn, November 15, 2010
- ↑ For 2009 volatility, see Lua error in package.lua at line 80: module 'strict' not found.
- For suspension start date and reason, see Lua error in package.lua at line 80: module 'strict' not found.
- For suspension duration, see Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Changfeng Motors, Mitsubishi to expand cooperation hktdc.com, 15 Jan 2008
- ↑ 17.0 17.1 Mitsubishi, Changfeng to form China auto JV chinadaily.com, 2008-01-15
- ↑ Mitsubishi Pajero to become a Changfeng Pajero? chinacartimes.com 25 JUNE 2009
- ↑ For 2009 concept, see Lua error in package.lua at line 80: module 'strict' not found.
- For 2011 Sedan showing, see Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
External links
Wikimedia Commons has media related to Changfeng vehicles. |
- Articles with Chinese-language external links
- Pages using infobox company with unsupported parameters
- Articles containing simplified Chinese-language text
- Articles containing traditional Chinese-language text
- Articles with unsourced statements from September 2013
- Commons category link is locally defined
- GAC Group divisions and subsidiaries
- Motor vehicle manufacturers of China
- Companies established in 1950
- Companies based in Hunan
- Chinese brands