Jiangling Holdings

Jiangling Holdings, also translated as Jiangling Motor Holding (JMH), is the name of two successive Jiangxi-based Chinese joint ventures focused on the automotive industry. The present Jiangling Holdings, established in June 2019 as a successor of the first one, is owned by Aiways (as majority holder), JMCG and Changan Auto. The first Jiangling Holdings was established in 2004 by JMCG and Changan as an equally-owned venture.

Jiangling Motor Holding Co., Ltd.
TypeJoint venture
IndustryAutomotive
FoundedJune 2019 (present JMH)
Headquarters
Nanchang, Jiangxi
,
China
Area served
Worldwide
Owners
DivisionsLandwind
Chinese name
Simplified Chinese江西江铃控股有限公司
Traditional Chinese江西江鈴控股有限公司

History

Old JMH

The first Jiangling Motor Holding joint venture was established in October 2004 (incorporated in November) as an equally-owned one by the state-owned enterprises Changan and JMCG. To create Jiangling Motor Holding, Changan invested money and in exchange JMCG transferred its Jiangling Motors (JMC) equity to the venture. Jiangling Motor Holding was from then on the largest shareholder of JMC,[1] with a 41.03% stake as of March 2018.[2] JMH also owned the Landwind marque.[1][3]

Between 2005 and 2019, JMH's Landwind was the subject of complaints and legal demands by Jaguar Land Rover, with the latter alleging various illegal copies of its properties.[4][5]

New JMH

In April 2019, it was announced that JMCG and Changan planned to split JMH into two separate companies: one keeping the same name and other tentatively called Jiangling Investment. Jiangling Investment would hold the 41.03% JMC stake and some liabilities and would still be equally owned by Changan and JMCG. The new JMH would own the rest of the former JMH assets (including Landwind)[6][7] and it would issue 100% more shares to be sold to investors, leaving JMCG and Changan with a 25% stake each.[7] Jiangling Investment was formally established in May 2019, completing the split of the former JMH.[8] In June 2019, it was announced that the investor for the new JMH was the car manufacturer Aiways. Aiways acquired a 50% of the new JMH with the aim of securing production permits for new energy vehicles.[9][10] The official signing ceremony for the new JMH was in August,[11] but production of Aiways U5s at the JMH plant started in June, as soon as the deal was completed.[9]

Operations

JMH is headquartered in Nanchang, Jiangxi, China.[12] The company owns the Landwind marque and produces all its models.[6] It also produces vehicles for its largest stockholder, Aiways.[9]

References
  1. "江铃控股详细资料" [Jiangling Holding details]. auto.ifeng.com (in Chinese). Retrieved 1 February 2019.
  2. "Jiangling Motors Corporation, Ltd. 2017 Annual Report" (PDF). JMC. pp. 27, 29. Retrieved 1 February 2019 – via Sohu.
  3. "Landwind". JMCG. Retrieved 1 February 2019.
  4. "14年鏖战三回合，路虎与陆风到底谁赢了？" [In the three rounds of 14 years of fighting who wins, Land Rover or Landwind?]. autoweekly.com.cn (in Chinese). 19 April 2019. Retrieved 21 April 2019.
  5. "路虎VS陆风 第一次有人从这个角度讲明白这件事" [Land Rover VS Landwind. The case from a different perspective]. sohu.com.cn (in Chinese). 10 April 2019. Retrieved 21 April 2019.
  6. Hu, Xinyu (3 April 2019). "江铃汽车控股股东拟变更为江铃投资" [Jiangling Motors' controlling shareholder is planned to be changed to Jiangling Investment]. jrj.com.cn (in Chinese). Retrieved 3 April 2019.
  7. Liu, Yang; Zhen, Zhenyu (3 April 2019). "长安汽车拟为江铃控股引入战略投资者" [Changan Automobile intends to introduce strategic investors for Jiangling Holding]. finance.sina.cn (in Chinese). Retrieved 3 April 2019.
  8. Jian, Jianru (30 May 2019). Zhang, Bei (ed.). "江铃汽车和长安汽车共同成立投资公司 注册资本10亿元" [Jiangling Group and Changan Automobile jointly established an investment company with a registered capital of 1 billion yuan]. nbd.com.cn (in Chinese). Retrieved 7 June 2019.
  9. Li, Xing (5 June 2019). "爱驰汽车购入江铃控股50%股权 首款量产车已开始生产" [Aiways acquired a 50% equity in Jiangling Holdings. The first production car has started production]. finance.sina.cn (in Chinese). Retrieved 7 June 2019.
  10. Xing, Lei (6 June 2019). "AIWAYS Acquires 50 Percent Stake In Jiangling Holding For Nearly ￥1.75 Billion". China Automotive Review. Retrieved 7 June 2019.
  11. "Roundup of joint-venture, new investment projects for Q3's Chinese auto industry". Automotive News Gasgoo. 10 October 2019. Retrieved 4 May 2020.
  12. "Jiangling Motor Holding Co Ltd". Bloomberg. Retrieved 4 May 2020.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.