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Guangzhou Automobile Group Company Limited
广州汽车集团股份有限公司
Type State-owned enterprise
Founded 1997[1]
Headquarters Guangzhou, Guangdong, China
Area served China
Key people Chairman: Mr. Zhang Fangyou
Industry Automobile
Website http://www.gaig.com.cn

Guangzhou Automobile Group Co., Ltd. is a Chinese automobile manufacturer. It is also known as Guangzhou Automobile or GAIG.

It was founded on June 8, 2000 from the merger of Guangzhou Automobile Group Co., Ltd. and Guangzhou Motors Group Company (previously Guangzhou Wuyang Group Company). The group is authorized by the Guangzhou City Government to operate state owned assets. The corporation receives considerable support from Guangdong Province and Guangzhou City to develop the automotive industry in the province.

In 2010 it was among the top ten most-productive Chinese carmakers[2] reaching number six[3] and selling 724,200 cars.[4]

HistoryEdit

Guangzhou Automobile Group Co Ltd was founded in 1997,[1] and by 2005[5] it had become a holding of Guangzhou Automobile Industry Group[6] and a joint-stock company.[7] As of 2009 it is the 6th largest automaker in China.[8]

IPOEdit

Previously a backdoor listing via Denway Motors,[8] it is now publicly traded in its own right.

In 2010 shareholders of Denway Motors, at the time a listed company partially (37.9%) owned by Guangzhou Automobile Group,[8] approved its own privatization.[9] Denway Motors could then be delisted on 25 August 2010 and replaced by the listing of Guangzhou Automobile Group on 30 August 2010 via stock swap.[10]

Gonow acquisitionEdit

In late 2010 GAC purchased 51% ownership of Gonow, a private Chinese automaker.[11]

Joint ventures and subsidiariesEdit

Guangzhou Automobile Group has part ownership of a number of automotive manufacturing companies.

ChangfengEdit

Main article: Changfeng Automobile

As of 2009 Guangzhou Automobile Group has 29% ownership of this SUV-maker[12] its share purchase supposedly imposed by the Chinese State as a condition of an upcoming joint venture with Fiat.[13] This as-yet-unnamed Fiat joint venture will utilize Changfeng's production bases in Hunan Province.[13]

Mitsubishi joint ventureEdit

In early November 2010 Mitsubishi and Guangzhou Automobile Group signed a memorandum of understanding to set up a new equally-owned joint venture by restructuring Changfeng,[14] a Chinese auto-making company owned by both Mitsubishi and GAC, et al.

Guangqi Honda AutomobileEdit

Main article: Guangqi Honda Automobile

An equally-owned joint venture between Guangzhou Automobile Group and Honda,[15] it makes Honda-branded autos for the Southern Chinese market.

In 2011 it will debut its first China-only brand name, Everus.[16]

Guangzhou Automobile Group AutobusEdit

Main article: Guangzhou Automobile Group Bus

A bus manufacturer using Isuzu technology,[17] it is equally owned by Guangzhou Automobile Group and Hong Kong China Lounge Investments.[17]

Guangzhou Peugeot AutomobileEdit

Main article: Guangzhou Peugeot Automobile Company

One of the first Sino-western joint venture auto-making companies,[18] Guangzhou Peugeot Automobile Co Ltd is a failed joint venture set up through negotiation by PSA Peugeot Citroën and the Guangzhou Municipal government, which existed between 1985[19] and 1997.[18] Over its eleven-year lifespan,[20] the company only recorded production of 100,000 cars.[20]

Fleet sales began in 1989 and its model line comprised the Peugeot 505 and 504.[21]

GAC Fiat Automobiles Co LtdEdit

Main article: GAC Fiat

Fiat signed on to a joint venture with Guangzhou Automobile Group on 6 July 2009,[22][23] and GAC FIAT Automobiles Co Ltd was incorporated on 9 March 2010.[24] The new company will have a production base in Changsha, Hunan Province,[25] which is expected to become operational in July 2012[26] and manufacture the Linea sedan.[23]

Production capacity will increase to 250,000 vehicles, 300,000 engines per year from an initial 140,000 vehicles and 220,000 engines.[25]

Guangi Hino Motors Co Ltd Edit

  • Guangqi Hino Motors Co Ltd - heavy trucks and engines (formerly Guangzhou Yangcheng Automobile Co Ltd and Shenyang Hino Automobile Manufacturing Co Ltd


ReferencesEdit

  • GAIG - company web site
Smallwikipedialogo This page uses some content from Wikipedia. The original article was at Guangzhou Automobile Group. The list of authors can be seen in the page history. As with Tractor & Construction Plant Wiki, the text of Wikipedia is available under the Creative Commons by Attribution License and/or GNU Free Documentation License. Please check page history for when the original article was copied to Wikia

  1. 1.0 1.1 Milestones Guangzhou Automobile Industry Group Official Site
  2. Sales surge, but congestion concerns rise people.com.cn, November 15, 2010
  3. GAC listed after 8-year marathon people.com.cn, September 06, 2010
  4. China Car Market 101: Who Makes All Those 18 Million Cars? thetruthaboutcars.com, January 19, 2011
  5. Company Profile Guangzhou Automobile Group Official Site (Text-only Google cache)
  6. Guangzhou Automobile Group Co., Ltd. businessweek.com, Company Snapshot
  7. Home > About us > Company Profile Guangzhou Automobile Group Co Ltd Official Site
  8. 8.0 8.1 8.2 HK float for Guangzhou Auto chinadaily.com.cn, 2010-January-23
  9. "Denway Motors gets nod for privatisation". Reuters.com. Retrieved on 2010-10-25.
  10. Chiu, Joanne (2010-07-16). "Denway Motors's Shareholders Approve Share Swap". Online.wsj.com. Retrieved on 2010-10-25.
  11. GAC Gonow reveals next five-year plan globaltimes.cn, March/21/2011
  12. 13.0 13.1 Mainland carmakers to merge with rivals and stop overcapacity Kandy Wong. South China Morning Post. Hong Kong: Jan 30, 2010.
  13. "Mitsubishi, GAC Sign Joint Venture MOU, to Build ASX Compact SUV", ChinaAutoWeb.com. 
  14. China's Guangqi Honda at 95 pct of 2009 sales target reuters.com, Sun Nov 22, 2009 8:30pm EST
  15. UPDATE 1-Honda targets China sales of 730,000 units in 2011 reuters.com, Fri Dec 17, 2010 1:05am EST
  16. 17.0 17.1 About Guangzhou Automobile Group Autobus Official Site
  17. 18.0 18.1 Changing lanes in China: foreign direct investment, local government, and auto sector development (page 137) Eric Thun. Cambridge University Press, 2006. 326 pages.
  18. China CEO: a case guide for business leaders in China (page 78) Juan Antonio Fernandez, Liu Shengjun. John Wiley and Sons, 2007. 286 pages.
  19. 20.0 20.1 China CEO: a case guide for business leaders in China (page 86) Juan Antonio Fernandez, Liu Shengjun. John Wiley and Sons, 2007. 286 pages.
  20. Changing lanes in China: foreign direct investment, local government, and auto sector development (page 138) Eric Thun. Cambridge University Press, 2006. 326 pages.
  21. http://www.gacfiatauto.com/
  22. 23.0 23.1 Fiat Focuses on China businessweek.com, July 7, 2009, 12:14PM EST
  23. Company Profile GAC Fiat Official Site
  24. 25.0 25.1 GAC-Fiat ceremony heralds joint venture Han Tianyang (China Daily) 2009-11-30 08:03
  25. Parts for Toyota, Honda's south China JVs enough till mid-April reuters.com, Wed Mar 23, 2011 2:45am EDT

External linksEdit

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