|Type||Subsidiary of Guangzhou Automobile Group|
1950 (Original establishment)|
1996 (CMC establishment)
|Headquarters||Changsha, Hunan, China|
|Parent||Guangzhou Automobile Group|
|Website||GAC Changfeng Motors Official website (Chinese)|
GAC Changfeng Motors Co Ltd (SSE: 600991) (Chinese: 长丰; Pinyin: Chángfēng) is a Chinese SUV manufacturer. A state-owned enterprise but also a public company, Changfeng solely produces SUVs and most sales have been to the Chinese state.
Changfeng has its origins in No.7319 Factory, which was a small repair facility for military equipment before becoming a factory in the 1970s. Production of crosscountry vehicles (license built Beijing BJ2020s) began in 1988, and the company's name became 'Changfeng Auto Manufacturing' in 1996. The 1991 Mitsubishi Pajero has been built by Changfeng since 1995.
A series of small sedans are under development, and in May, 2009, Guangzhou Auto purchased 29% of the company to access these (or—what is more likely—its SUV expertise) and has plans to turn Changfeng into a joint venture with Mitsubishi Motors.
State as primary customerEdit
Since 1995, Changfeng has produced license-built Mitsubishi vehicles for both military and civilian use, and this Japanese automaker holds a 15% stake in GAC Changfeng Motors Co Ltd as of 2010.
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. Mitsubishi will increase its ownership to fifty percent and the new company should start work in June, 2011. Mitsubishi will help round out a portfolio of joint ventures with Japanese automakers for Guangzhou Automobile.
As of 2010, the majority of ownership in Changfeng was held by three stake-holders, two of which have close ties to the Chinese state. 29% of the company is owned by Guangzhou Automobile Industry Group, 21.98% by Changfeng Group, and 14.59% by Mitsubishi, and remaining ownership held by unknown entities.
Mitsubishi will soon increase its ownership to 50% as a part of changing Changfeng into a Sino-japanese joint venture.
As of May, 2010, an unnamed, state-run parent company (probably Changfeng Group, as its ownership decreased due to state-mandated cooperation with Guangzhou Automobile Industry Group) held 50.98% ownership.
While most sales are domestic, the company has exported to the Middle East and Africa.
Changfeng has production bases in Changsha, Yongzhou and Hengyang, Hunan province and in Huizhou, Guangdong province.
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- ↑ 1.0 1.1 1.2 1.3 1.4 Lagging far behind, Mitsubishi looks to new joint partnership chinadaily.com.cn, 2010-11-15
- ↑ 2.0 2.1 Changfeng Motors, Mitsubishi to expand cooperation hktdc.com, 15 Jan 2008
- ↑ Pajero Changfeng Official Site (Web Archive)
- ↑ Guangzhou Auto Acquires Small SUV Maker Changfeng Motor chinabuses.com, 2009-05-31
- ↑ 5.0 5.1 (2006) World of Cars 2006·2007. Warsaw, Poland: Media Connection Sp. z o.o., 228.
- ↑ The Chinese are coming! Superexcellent! Changfeng is latest Chinese automaker with U.S. dreams motortrend.com, January 9, 2007
- ↑ "Guangzhou Auto buys 29% of Changfeng Auto". China Car Times (2009-05-20). Retrieved on 2010-11-17.
- ↑ 8.0 8.1 Yan, Fang, and Klamann, Edmund (Tue May 19, 2009 3:24am EDT). "UPDATE 1-Guangzhou Auto to buy into Changfeng Motor -source". Reuters.com. Retrieved on 2010-12-21.
- ↑ 9.0 9.1 9.2 GAC to form Mitsubishi JV based on GAC Changfeng reuters.com, Sat Nov 6, 2010 1:32am EDT
- ↑ Mitsubishi, Changfeng to form China auto JV chinadaily.com, 2008-01-15
- ↑ Mitsubishi Pajero to become a Changfeng Pajero? chinacartimes.com 25 JUNE 2009
- ↑ "Mitsubishi, GAC Sign Joint Venture MOU, to Build ASX Compact SUV", ChinaAutoWeb.com.
- ↑ Lagging far behind, Mitsubishi looks to new joint partnership peopledaily.com.cn, November 15, 2010
- ↑ China SUV maker Changfeng plans U.S. debut reuters.com, Mon Jan 8, 2007 7:50pm EST