Changfeng Motor

GAC Changfeng Motor Co., Ltd.

Type	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)

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.

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

Liebao CS6

ChangFeng Flying

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 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

External links

Wikimedia Commons has media related to Changfeng vehicles.

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