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GAC Group

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Guangzhou Automobile Group
Co., Ltd.
Company typePublic
SEHK:2238,SSE:601238
IndustryAutomotive
Founded1955;69 years ago(1955)[1]
Headquarters
Guangzhou,Guangdong
,
China
Area served
China
Key people
Zeng Qinghong (Chairman) (acting)
ProductsCommercial vehicles
Passenger cars
Buses
Automotive components
Production output
2,100,000 units (2021)[2]
ServicesVehicle leasing
After-sale services
Vehicle finance
RevenueCN¥12,964,000,000 (2012)[3]
CN¥1,134,000,000 (2012)[3]
ParentGuangzhou Automobile Industry Group
Subsidiaries
Websitegac.com.cn
GAC Group
Simplified ChineseQuảng châu khí xa tập đoàn cổ phân hữu hạn công tư
Traditional ChineseQuảng châu khí xa tập đoàn cổ phân hữu hạn công tư
Literal meaningGuangzhou Automobile Group Co., Ltd.

Guangzhou Automobile Group Co., Ltd.(GAC Group) is a Chinesestate-ownedautomobile manufacturer headquartered inGuangzhou,Guangdong.Founded in 1954, it is currently thefifth largestautomobile manufacturer in China, with 2.144 million sales in 2021.

The company produces and sells vehicles under its own branding, such asTrumpchi,Aion,Hycanas well as under foreign-branded joint ventures such asGAC Toyota,GAC Honda,andGAC Mitsubishi.It also produces electric vehicles under some of the previously listed brandings, including dedicated EV brands such as Aion and Hycan. It produces buses under the GAC Bus brand. Other brand names associated with GAC are Everus, for consumer vehicles, and Hino.

In 2021, GAC was the fourth largest Chinese plug-in electric vehicle manufacturer in the Chinese market, with 4% of market share.[4]It sold 123,660 units of EVs in 2021, and over 20,000 units in March 2022, with plans to double EV production capacity to 400,000 a year by December 2022.[5][6][7]

History[edit]

Guangzhou Automobile Group Co., Ltd. was founded in 1955,[1]and in 2005[8]become a holding ofGuangzhou Automobile Industry Group[9]and ajoint-stock company.[10]As of 2009 it was the 6th-largest automaker in China.[11]

In 2009, the company acquired 29% of the Chinese sport-utility vehicle makerChangfeng Automobile,becoming its biggest shareholder.[12]GAC purchased the remaining portion of Changfeng in 2011 completing its acquisition of the company.[13]

Previously abackdoor listingviaDenway Motors,[11]GAC became listed under its own name on the Stock Exchange of Hong Kong in 2010.[12]In that year shareholders of Denway Motors approved itsprivatizationby GAC.[14]Denway Motors was subsequentlydelistedon 25 August 2010 and replaced by Guangzhou Automobile Group (SEHK:2238) on 30 August 2010 viastock swap.[12]

In late 2010 GAC purchased 51% ownership ofGonow,a midsize Chinese automaker of sport-utility vehicles, subcompacts, and pickup trucks.[12]

In December 2010 GAC launched the newTrumpchimarque. Its initial product was based on theAlfa Romeo 166.[15][16]

In 2010 GAC was among the ten largest Chinese carmakers[17]reaching number six[18]and selling 724,200 vehicles.[19]

2011 saw the company retain its position as the sixth-largest Chinese automaker by production volume, with GAC making 740,400 vehicles in that year.[20]

In early 2012, the company was listed on the Shanghai Stock exchange.[21]

On 17 November 2023. GAC Group announced the independent development of key technologies, including all-solid-state batteries, cobalt-free batteries, low-cobalt batteries, and sodium-ion batteries. The company aims to achieve the integration of all-solid-state batteries into automobiles by 2026.[22][23]

In 2023 the company developed the first ammonia powered engine for cars.[24][25]

Brands[edit]

See also:List of GAC vehicles

Trumpchi/GAC[edit]

Main article:Trumpchi

Trumpchi is an automotive marque owned by GAC Group and launched in December 2010. Trumpchi brand is marketed as GAC outside China.

Aion[edit]

Main article:Aion (marque)

GAC New Energy Automobile Co is theNEVarm of GAC. GAC New Energy produces their ownEVbrand,Aion.

Former brands[edit]

Changfeng Motor (Leopaard) (discontinued)[edit]

Main article:Changfeng Motor

In 2009, GAC owned 29% ownership of this SUV-maker[26][27]a purchase supposedly imposed by theChinese stateas a condition of a then-upcoming joint venture withFiat.[28]GAC completed its acquisition of Changfeng in 2011.[13]In 2012 Changfeng Group began moves to re-enter the vehicle business culminating in the move to a new headquarters in Changsha in January 2013 and the establishment of a new subsidiary, Hunan Liebao Automobile Co. Ltd., alongside the continuing Anhui Changfeng Yangzi Automobile Manufacturing Co., Ltd., to oversee manufacturing and marketing of vehicles under the Liebao or"Leopaard"brand.[29]

  • Leopaard CS3 BEV
    Leopaard CS3 BEV
  • Leopaard CS9
    Leopaard CS9
  • Leopaard Mattu
    Leopaard Mattu

Gonow (discontinued)[edit]

Main article:Gonow

Gonow (officially Zhejiang Gonow Auto Co., Ltd.) is a Chinese manufacturer of automobiles, commercial vehicles and SUV's headquartered in Taizhou, Zhejiang and a subsidiary of GAC Group. It markets its products under the brand name GAC Gonow in China and as Gonow in other markets.

  • Gonow Emei
    Gonow Emei
  • Gonow G5
    Gonow G5
  • Gonow Way M1
    Gonow Way M1

Joint venture brands[edit]

GAC Honda[edit]

Main article:GAC Honda

Guangqi Honda is a 50:50 joint venture between GAC andHonda,[30]which has been making a number of Honda and Acura-branded vehicles for the Chinese market since 1999. It started sales of its own brand,Everusin 2011.[31]

  • Everus S1 (facelift)
    Everus S1 (facelift)
  • Everus VE-1 EV
    Everus VE-1 EV

GAC Wuyang-Honda[edit]

Wuyang-Honda marketsHonda Motorcyclesfor the Chinese market.[32]

GAC Toyota[edit]

Main article:GAC Toyota

GAC Toyota Motor Co., Ltd. is a 50:50 joint venture between GAC andToyota Motor Companywhich manufactures Toyota vehicles for the Chinese market. It was founded in 2004 and is headquartered in Guangzhou.[33]

GAC Hino[edit]

Main article:GAC Hino

GAC Hino is a joint venture betweenHinoand GAC aimed at producing Hino-based trucks.

GAC BYD[edit]

GAC BYD is a joint venture between GAC (49%) andBYD(51%) to produce BYD-designed buses under GAC's brand name.[34][35]

Former joint ventures[edit]

Guangzhou Isuzu[edit]

Guangzhou Isuzu Bus Co., Ltd. was a coach manufacturing joint venture between GAC (51%),Isuzu Motors(33.67%) and Isuzu (China) Investment Co., Ltd. (15.33%) that was established on 6 March 2000.[36]Isuzu light trucks and buses were also built by Guangzhou Yangcheng Automobile (Dương thành khí xa), a joint venture with Hong Kong China Lounge Logistics. Their light trucks are based on theIsuzu Elfand are marketed under the "YCACO" brand. Yangcheng's various bus building operations were merged with Guangzhou Isuzu Bus and Denway into the Guangzhou Bus Co., Ltd. in September 2008.[37]At the same time, Guangzhou Yangcheng's truck making arm was merged into Guangzhou Hino.[37]

  • Ycaco YC1045CSZ
    Ycaco YC1045CSZ

Guangzhou Peugeot[edit]

Main article:Guangzhou Peugeot Automobile Company

One of the first Sino-western joint venture auto-making companies,[38]Guangzhou Peugeot Automobile Co. Ltd. was ajoint ventureset up byPSA Peugeot Citroënand theGuangzhouMunicipal government between 1985[39]and 1997.[38]Over its eleven-year lifespan,[40]the company produced about 100,000 cars.[40]

Sales began in 1989 mainly as automobiles for government officials and taxis.[41]Its model line comprised thePeugeot 505and504.[42]

  • A crew cab Peugeot 504 pickup produced by Guangzhou Peugeot
    A crew cab Peugeot 504 pickup produced by Guangzhou Peugeot

GAC Fiat Chrysler[edit]

Main article:GAC Fiat Chrysler

Fiatsigned on to a joint venture with GAC on 6 July 2009,[43][44]and GAC FIAT Automobiles Co Ltd was incorporated on 9 March 2010.[45]The new company has a production base inChangsha,HunanProvince,[46]that opened on 28 June 2012[47]to manufacture theFiat Viaggio.[48]

GAC Mitsubishi[edit]

Main article:GAC Mitsubishi

GAC Mitsubishi Motors is a joint venture between GAC and the Japanese automakerMitsubishi Motors.It became operational in September 2012 following a late 2010memorandum of understanding.[49]

Sales[edit]

GAC group sales by brand[50][51]
Year Total Trumpchi Aion Gonow
2010 45,065 21 - 43,251
2011 44,056 17,014 - 25,343
2012 71,505 32,646 - 37,256
2013 124,001 84,602 - 38,928
2014 146,694 116,468 - 29,500
2015 207,890 191,617 - 15,995
2016 375,723 370,781 - 4,209
2017 508,797 508,617 - 180
2018 535,323 535,277 - 46
2019 384,792 351,550 33,242 Discontinued
2020 353,597 294,049 59,545
2021 447,207 327,048 120,159
2022 633,704 362,548 271,156
2023 886,508 406,505 480,003

International operations[edit]

GAC Group has been vocal about its plans to introduce models into theUnited States.[52]Trumpchi made its first appearance at theNorth American International Auto Showin Detroit in January 2013, where the Trumpchi E-Jet concept made its world debut.[53]In 2017, the company returned to Detroit and showed three SUVs and two sedans. In January 2018, Trumpchi brought five new models and a concept SUV, the Enverge.[53][54]GAC established research and development teams inSilicon ValleyandLos Angelesin 2017 and 2018, respectively.[55]During the2019 Detroit Auto Showthey announced delays to their sales plans to the first half of 2020.[56]On 22 May 2019, the company indefinitely postponed their US market plans due toDonald Trump's trade war with China.[57]

On 15 May 2015, GAC Group launched a ceremony to celebrate the opening of its Lebanese office under Bazerji Motors SAL.[58][59]On 29 May 2015, GAC Group partnered with Doha Marketing and Services Company (DOMASCO), to market and sell their vehicles to the local customers in the Middle East.[60]

On 20 November 2020, GAC Group established a branch in Chile.[61]

GAC Group International Markets
Year of Introduction Territory Brands Local Partner References
2013 Kuwait GAC Motor [62]
May 2014 Lebanon GAC Motor Bazerji Motors Sal [58][59]
November 2014 Nigeria GAC Motor [63]
October 2015 Bahrain GAC Motor Tasheelat Automotive Company [64]
October 2018 United Arab Emirates GAC Motor Gargash Group [62]
November 2018 Philippines GAC Motor Legado Motors Inc. (LMI) [65][66]
November 2018 Saudi Arabia GAC Motor Al Jomaih Automotive [67]
May 2019 Ecuador GAC Motor Impofactor CA [68]
August 2019 Cambodia, Laos, Panama GAC Motor TH Group (Cambodia), VK Group, Laos Group Auto Commercial (Panama) [69]
December 2019 Russia GAC Motor [70][71]

Sponsorships[edit]

GAC was the sponsor of the2011 World Table Tennis Championshipsheld in Rotterdam and the title sponsor of the 2012ITTF World Tour.[72]

GAC was the title sponsor of the2013 World Team Cup Table Tennistournament held in its home city of Guangzhou.[72]

See also[edit]

References[edit]

  1. ^abMilestonesArchived2011-04-26 at theWayback MachineGuangzhou Automobile Industry Group Official Site
  2. ^"Autoline Daily".Retrieved3 March2022.
  3. ^ab"Annual Report 2012"(PDF).Guangzhou Automobile Group Co., Ltd. 2012.Retrieved18 February2014.
  4. ^"China Sets Massive Record: 500,000 Plug-In Cars Sold in December 2021".
  5. ^"GAC Aion builds second plant with 200,000 production capacity".5 January 2022.
  6. ^"China Sets Massive Record: 500,000 Plug-In Cars Sold in December 2021".
  7. ^"Chinese NEV Sales Round-up March 2022".6 April 2022.
  8. ^Company Profile[dead link]Guangzhou Automobile Group Official Site (Text-only Google cache)
  9. ^Guangzhou Automobile Group Co., Ltd.businessweek.com, Company Snapshot
  10. ^Home > About us > Company ProfileArchived2012-04-15 at theWayback MachineGuangzhou Automobile Group Co Ltd Official Site
  11. ^ab"HK float for Guangzhou Auto".1HangZhou.23 January 2010.Retrieved13 January2013.
  12. ^abcdJoanne Chiu and Norihiko Shirouzu (16 July 2010)."Denway Motors's Shareholders Approve Share Swap".The Wall Street Journal.
  13. ^abLee, Carmen (10 February 2012)."GAC Group's application to acquire Changfeng gains written approval".Automotive News.gasgoo.com. Archived fromthe originalon 2 December 2013.Retrieved23 June2012.
  14. ^"Denway Motors gets nod for privatisation".Reuters.com. 16 July 2010.Retrieved25 October2010.
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  31. ^Kim, Chang-Ran (17 December 2010)."Honda targets China sales of 730,000 units in 2011".reuters.com.Retrieved13 January2013.
  32. ^"Ngũ dương - bổn điền ma thác ( quảng châu ) hữu hạn công tư".www.wuyang-honda.com.Retrieved30 August2021.
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  49. ^For start of operations, see"Production and Sales of Pajero Sport Midsize SUV Begins in China".Press Release.Mitsubishi Motors. 30 September 2013. Archived fromthe originalon 11 November 2022.Retrieved10 October2013.
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  58. ^ab"GAC MOTOR celebrates entry into Lebanon market".
  59. ^ab"Launching Ceremony of GAC MOTOR with Trumpchi Vehicles Successfully Held in Lebanon, Speeding up Pace of Overseas Expansion"(Press release). 28 May 2015.
  60. ^"Launch Ceremony of GAC MOTOR in Qatar, Targeting the Middle East as Key Market".www.businesswire.com.29 May 2015.Retrieved21 December2019.
  61. ^"Guangzhou Automobile Group MOTOR Co., Ltd".
  62. ^ab"GAC MOTOR In The Last Two Weeks: Opening New Regional Showrooms, Releasing New Cars Models And Enter to New Markets".GAC Group.Retrieved3 June2019.
  63. ^"GAC Motor Delivers 150 GA3Ss to PoliceForce of Nigeria".GAC Group.Retrieved3 June2019.
  64. ^https://www.prnewswire.co.uk/news-releases/gac-motor-set-to-debut-in-the-bahrain-market-with-flagship-models-531195511.html
  65. ^"President Duterte graces GAC Motor launch, assures investors PH is business-friendly".Presidential Communications Group (Philippines).7 November 2018. Archived fromthe originalon 27 June 2021.Retrieved27 March2019.
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  72. ^ab"GAC Group deepens table tennis commitment".SportsPro. 14 May 2012.Retrieved17 May2012.

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