GAC Group: Difference between revisions
Shanghai 10 (talk | contribs) |
|
(No difference)
| |
Revision as of 13:34, 27 May 2010
Guangzhou Automobile Industry Group Co Ltd (Chinese: 广州汽车工业集团有限公司) is a Chinese state-owned enterprise[1] authorized by the Guangzhou municipal government to operate state-owned assets,[2] and is a partner in a number of joint venture manufacturing concerns.[citation needed] It is also known as GAIG (Chinese: 广州汽车).[2]
History
Born from the merger of Guangzhou Automobile Group Co Ltd and Guangzhou Motors Group Company (previously Guangzhou Wuyang Group Company)[citation needed] on June 8, 2000[3][1][2] during the reconstruction of the Guangzhou Automotive industry.[3]
GAIG receives considerable support from the governments of Guangdong province and Guangzhou city.[citation needed]
In 2007 it was reported that the group, at the prompting of the Chinese State, was planning to sell automobiles under its own brand and to further this goal had acquired a controlling share in a R&D center at South China University of Technology.[4]
Holdings
GAIG is a shareholder in a number of Chinese automakers; an incomplete list of GAIG holdings follows.
Changfeng
As of 2009, GAIG has 30% ownership in this SUV-maker,[5][6] its share purchase supposedly imposed by the Chinese State as a condition of an upcoming GAIG joint venture with Fiat.[7] This as-yet unnamed Fiat joint venture will utilize Changfeng's production bases in Hunan Province.[7]
Guangzhou Toyota Motor Co
As of 2007 this equally-owned[8] joint venture was based in Guangzhou, Guangdong Province and produced a Chinese-market Camry.[4]
Guangzhou Automobile Group Co Ltd
Guangzhou Automobile Group Co Ltd was founded in 1997,[3][9] and by 2005[10] it had become a subsidiary of GAIG.[9] As of 2009 it is the 6th largest automaker in China.[11]
Shares of Guangzhou Automobile Group are held by the listed company Denway Motors (SEHK: 203).[12][11][13][14]
GAC Holdings
Guangzhou Automobile Group has part ownership in a number of automotive manufacturing companies.
Guangqi Honda Automobile
A 50/50 joint venture between Guangzhou Automobile Group and Honda,[12] it makes Honda-branded autos for the Chinese market.
Guangzhou Automobile Group Autobus
A bus manufacturer using Isuzu technology,[15] it is equally owned by GAIG subsidiary Guangzhou Automobile Group and Hong Kong China Lounge Investments.[15]
Unnamed Fiat joint venture
Fiat signed on to a joint venture with Guangzhou Automobile Group on July 6, 2009.[16] The company will have a production base in Hunan Province, which is expected to become operational in 2011 and manufacture the Linea sedan.[16]
References
- ^ a b Shareholders Guangzhou Automobile Group Official Site
- ^ a b c Introduction GUANGZHOU AUTOMOBILE INDUSTRY GROUP CO LTD Official Site
- ^ a b c Milestones Guangzhou Automobile Industry Group Official Site
- ^ a b [Guangzhou Automobile Industry Group By Alysha Webb] Automotive News, 5/14/2007 Supplement, Vol. 81
- ^ UPDATE 1-Guangzhou Auto to buy into Changfeng Motor -source reuters.com, Tue May 19, 2009 3:24am EDT
- ^ UPDATE 2-Changan Auto claims China's No.3 spot with AVIC deal reuters.com, Tue Nov 10, 2009 4:55am EST
- ^ a b [Mainland carmakers to merge with rivals and stop overcapacity by Kandy Wong] South China Morning Post. Hong Kong: Jan 30, 2010.
- ^ [Toyota Motor China Investment Co. By: Treece, James B.]] Automotive News, 5/14/2007 Supplement, Vol. 81
- ^ a b Guangzhou Automobile Group Co., Ltd. businessweek.com, Company Snapshot
- ^ Company Profile Guangzhou Automobile Group Official Site
- ^ a b China's Guangqi Honda at 95 pct of 2009 sales target reuters.com, Sun Nov 22, 2009 8:30pm EST
- ^ JOINT ANNOUNCEMENT Pursuant to Rule 3.7 of the Code on Takeovers and Mergers irasia.com
- ^ Announcments Denway Motors Official Site
- ^ a b About Guangzhou Automobile Group Autobus Official Site
- ^ a b Fiat Focuses on China businessweek.com, July 7, 2009, 12:14PM EST
