Guangzhou Automobile Industry Group
Encyclopedia
Guangzhou Automobile Group Co Ltd , is a Chinese automobile maker and a subsidiary of Guangzhou Automobile Industry Group
, a holding company.
Guangzhou Automobile Group is currently known for its Honda-branded auto producing joint venture
with that Japanese automaker.
In 2010 it was among the top ten most-productive Chinese carmakers reaching number six and selling 724,200 cars.
and a joint-stock company. As of 2009 it is the 6th largest automaker in China.
, 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, approved its own privatization
. 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
.
, a private Chinese automaker.
as a condition of an upcoming joint venture with Fiat
. This as-yet-unnamed Fiat joint venture will utilize Changfeng's production bases in Hunan
Province.
to set up a new equally-owned joint venture
by restructuring Changfeng, a Chinese auto-making company owned by both Mitsubishi and GAC, et al.
, it makes Honda-branded autos for the Southern Chinese market.
In 2011 it will debut its first China-only brand name, Everus.
technology, it is equally owned by Guangzhou Automobile Group and Hong Kong China Lounge Investments.
set up through negotiation by PSA Peugeot Citroën
and the Guangzhou Municipal government, which existed between 1985 and 1997. Over its eleven-year lifespan, the company only recorded production of 100,000 cars.
Fleet sales began in 1989 and its model line comprised the Peugeot 505
and 504
.
signed on to a joint venture with Guangzhou Automobile Group on 6 July 2009, and GAC FIAT Automobiles Co Ltd was incorporated on 9 March 2010. The new company will have a production base in Changsha, Hunan
Province, which is expected to become operational in July 2012 and manufacture the Linea
sedan.
Production capacity will increase to 250,000 vehicles, 300,000 engines per year from an initial 140,000 vehicles and 220,000 engines.
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....
, a holding company.
Guangzhou Automobile Group is currently known for its Honda-branded auto producing 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 that Japanese automaker.
In 2010 it was among the top ten most-productive Chinese carmakers reaching number six and selling 724,200 cars.
History
Guangzhou Automobile Group Co Ltd was founded in 1997, and by 2005 it had become a holding of Guangzhou Automobile Industry GroupGuangzhou Automobile Industry Group
Guangzhou Automobile Group Co Ltd , is a Chinese automobile maker and a subsidiary of Guangzhou Automobile Industry Group, a holding company....
and a joint-stock company. As of 2009 it is the 6th largest automaker in China.
IPO
Previously a backdoor listing via Denway MotorsDenway Motors
Denway Motors Limited is a investment holding company engaged in the manufacturing, assembly and trading of motor vehicles and automotive equipments and parts in Mainland China and Hong Kong....
, 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, approved its own privatization
Privatization
Privatization is the incidence or process of transferring ownership of a business, enterprise, agency or public service from the public sector to the private sector or to private non-profit organizations...
. Denway Motors could then be delisted on 25 August 2010 and replaced by the listing
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
of Guangzhou Automobile Group on 30 August 2010 via stock swap
Stock swap
A stock swap, also known as a share swap, is a business takeover or acquisition in which the acquiring company uses its own stock to pay for the acquired company. Each shareholder of the newly acquired company receives a certain number of shares of the acquiring company's stock for each share of...
.
Gonow acquisition
In late 2010 GAC purchased 51% ownership of GonowGonow
Zhejiang Gonow Auto Co., Ltd.. is a Chinese manufacturer of automobiles, commercial vehicles and SUV's located in Taizhou, Zhejiang. The company markets its products under the brand name Gonow car in the home market and on all other markets as Gonow, shortened.The company was founded on 27...
, a private Chinese automaker.
Joint ventures and subsidiaries
Guangzhou Automobile Group has part ownership of a number of automotive manufacturing companies.Changfeng
As of 2009 Guangzhou Automobile Group has 29% ownership of this SUV-maker its share purchase supposedly imposed by 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...
as a condition of an upcoming joint venture with Fiat
Fiat
FIAT, an acronym for Fabbrica Italiana Automobili Torino , is an Italian automobile manufacturer, engine manufacturer, financial, and industrial group based in Turin in the Italian region of Piedmont. Fiat was founded in 1899 by a group of investors including Giovanni Agnelli...
. This as-yet-unnamed Fiat joint venture will utilize Changfeng's production bases in Hunan
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...
Province.
Mitsubishi joint venture
In early November 2010 Mitsubishi and Guangzhou Automobile Group signed a memorandum of understandingMemorandum 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, a Chinese auto-making company owned by both Mitsubishi and GAC, et al.
Guangqi Honda Automobile
An equally-owned joint venture between Guangzhou Automobile Group and HondaHonda
is a Japanese public multinational corporation primarily known as a manufacturer of automobiles and motorcycles.Honda has been the world's largest motorcycle manufacturer since 1959, as well as the world's largest manufacturer of internal combustion engines measured by volume, producing more than...
, it makes Honda-branded autos for the Southern Chinese market.
In 2011 it will debut its first China-only brand name, Everus.
Guangzhou Automobile Group Autobus
A bus manufacturer using IsuzuIsuzu
, is a Japanese car, commercial vehicle and heavy truck manufacturing company, headquartered in Tokyo. In 2005, Isuzu became the world's largest manufacturer of medium to heavy duty trucks. It has assembly and manufacturing plants in the Japanese city of Fujisawa, as well as in the prefectures...
technology, it is equally owned by Guangzhou Automobile Group and Hong Kong China Lounge Investments.
Guangzhou Peugeot Automobile
One of the first Sino-western joint venture auto-making companies, Guangzhou Peugeot Automobile Co Ltd is a failed joint ventureJoint 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...
set up through negotiation by PSA Peugeot Citroën
PSA Peugeot Citroën
PSA Peugeot Citroën is a French manufacturer of automobiles and motorcycles sold under the Peugeot and Citroën marques. Headquartered in the 16th arrondissement of Paris, PSA is the second largest automaker based in Europe and the number eight in the world.-History:In December 1974 Peugeot S.A....
and the Guangzhou Municipal government, which existed between 1985 and 1997. Over its eleven-year lifespan, the company only recorded production of 100,000 cars.
Fleet sales began in 1989 and its model line comprised the Peugeot 505
Peugeot 505
The Peugeot 505 is a large family car produced by the French manufacturer Peugeot from 1979 to 1992 in Sochaux, France. The 505 was Peugeot's last rear-wheel drive car...
and 504
Peugeot 504
The Peugeot 504 is a large family car manufactured by French automaker Peugeot between 1968 and 1983, with licensed production continuing until 2006.-1968 — introduction:...
.
GAC Fiat Automobiles Co Ltd
FiatFiat
FIAT, an acronym for Fabbrica Italiana Automobili Torino , is an Italian automobile manufacturer, engine manufacturer, financial, and industrial group based in Turin in the Italian region of Piedmont. Fiat was founded in 1899 by a group of investors including Giovanni Agnelli...
signed on to a joint venture with Guangzhou Automobile Group on 6 July 2009, and GAC FIAT Automobiles Co Ltd was incorporated on 9 March 2010. The new company will have a production base in Changsha, Hunan
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...
Province, which is expected to become operational in July 2012 and manufacture the Linea
Fiat Linea
The Fiat Linea is a small family car released on March 26, 2007 at Tofaş plant in Bursa, Turkey, by the Italian automaker Fiat as a world car in developing countries. It replaced the aging Marea as the largest saloon in the Fiat range. It is based on the current Fiat Grande Punto platform...
sedan.
Production capacity will increase to 250,000 vehicles, 300,000 engines per year from an initial 140,000 vehicles and 220,000 engines.