Chang Feng
Encyclopedia
GAC Changfeng Motors Co Ltd. abbreviated CMC 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.
The company manufactures license-built Mitsubishi Pajeros, sold in China under the Mitsubishi brand and Pajero variations that sell under the brand
name Liebao, which means leopard
.
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
.
vehicles for both military and civilian use, and this Japanese automaker holds a 15% stake in GAC Changfeng Motors Co Ltd as of 2010.
Upcoming Mitsubishi joint venture
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.
. 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.
On 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. On January 20, 2011, it was officially announced that Changfeng Motors is now an official subsidiary of Guangzhou Automobile Industry Group.
and Hengyang
, Hunan province
and in Huizhou
, Guangdong province
.
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
SUV manufacturer. A state-owned enterprise but also a public company
Public company
This is not the same as a Government-owned corporation.A public company or publicly traded company is a limited liability company that offers its securities for sale to the general public, typically through a stock exchange, or through market makers operating in over the counter markets...
, Changfeng solely produces SUVs and most sales have been to the Chinese state.
The company manufactures license-built Mitsubishi Pajeros, sold in China under the Mitsubishi brand and Pajero variations that sell under the brand
Brand
The American Marketing Association defines a brand as a "Name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers."...
name Liebao, which means leopard
Leopard
The leopard , Panthera pardus, is a member of the Felidae family and the smallest of the four "big cats" in the genus Panthera, the other three being the tiger, lion, and jaguar. The leopard was once distributed across eastern and southern Asia and Africa, from Siberia to South Africa, but its...
.
History
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. Production capacity has jumped from only 633 units in 1996 to 100,000 in 2006.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
Joint venture
A joint venture is a business agreement in which parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets...
with Mitsubishi Motors
Mitsubishi Motors
is a multinational automaker headquartered in Minato, Tokyo. In 2009 it was the fifth-largest Japan-based automaker and the 17th-largest in the world measured by production...
.
State as primary customer
The company has manufactured primarily for Chinese state use. As of 2008 most sales, close to seventy percent, were to police, military, and other government agencies.Mitsubishi
Since 1995, Changfeng has produced license-built MitsubishiMitsubishi
The Mitsubishi Group , Mitsubishi Group of Companies, or Mitsubishi Companies is a Japanese multinational conglomerate company that consists of a range of autonomous businesses which share the Mitsubishi brand, trademark and legacy...
vehicles for both military and civilian use, and this Japanese automaker holds a 15% stake in GAC Changfeng Motors Co Ltd as of 2010.
Upcoming Mitsubishi joint venture
In early November 2010, Mitsubishi and Guangzhou Automobile Group signed a memorandum of understanding
Memorandum of understanding
A memorandum of understanding is a document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action. It is often used in cases where parties either do not imply a legal commitment or in...
to set up a new equally owned joint venture
Joint venture
A joint venture is a business agreement in which parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets...
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.
Ownership
As of 2010, the majority of ownership in Changfeng was held by three stake-holders, two of which have close ties to the Chinese statePeople's Republic of China
China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...
. 29% of the company is owned by Guangzhou Automobile Industry Group
Guangzhou Automobile Industry Group
Guangzhou Automobile Group Co Ltd , is a Chinese automobile maker and a subsidiary of Guangzhou Automobile Industry Group, a holding company....
, 21.98% by Changfeng Group, and 14.59% by Mitsubishi
Mitsubishi
The Mitsubishi Group , Mitsubishi Group of Companies, or Mitsubishi Companies is a Japanese multinational conglomerate company that consists of a range of autonomous businesses which share the Mitsubishi brand, trademark and legacy...
, 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.
On 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. On January 20, 2011, it was officially announced that Changfeng Motors is now an official subsidiary of Guangzhou Automobile Industry Group.
Export
While most of Changfeng's sales are domestic, since 2006 the company has also exported cars to Russia, the Middle East, and to Africa.Production bases
Changfeng has production bases in Changsha, YongzhouYongzhou
Yongzhou is a prefecture-level city in the Hunan province of China.YongZhou is located in the central and south of China, on the southern side of Xiang River, which is formed by the confluence of the Xiao and Xiang rivers. Yongzhou is one of the four ancient counties in Hunan; it is 2000 years old...
and Hengyang
Hengyang
Hengyang is the second largest city of China's Hunan Province. It straddles the Xiang River about 160 km south of Changsha.-History:Its former name was Hengzhou . This was the capital of a prefecture in the Tang Dynasty's Jiangnan and West Jiangnan circuits...
, Hunan province
Hunan
' is a province of South-Central China, located to the south of the middle reaches of the Yangtze River and south of Lake Dongting...
and in Huizhou
Huizhou
Huizhou , historically known as Waichow, is a city located in central Guangdong province of the People's Republic of China. Part of the Pearl River Delta, Huizhou borders the provincial capital of Guangzhou to the west, Shaoguan to the north, Heyuan to the northeast, Shanwei to the east, Shenzhen...
, Guangdong province
Guangdong
Guangdong is a province on the South China Sea coast of the People's Republic of China. The province was previously often written with the alternative English name Kwangtung Province...
.