GAC Group

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
Qing Hong Zheng (Chairman) (acting)
ProductsCommercial vehicles
Passenger cars
Buses
Automotive components
Production output
2,100,000 units (2021) [2]
ServicesVehicle leasing
After-sale services
Vehicle finance
RevenueRMB 12,964,000,000 (2012)[3]
RMB 1,134,000,000 (2012)[3]
ParentGuangzhou Automobile Industry Group
DivisionsTrumpchi
Aion
SubsidiariesDenway Motors
GAC Bus
GAC Changfeng Motor
Websitegac.com.cn
GAC Group
Simplified Chinese广州汽车集团股份有限公司
Traditional Chinese廣州汽車集團股份有限公司
Literal meaningGuangzhou Automobile Group Co., Ltd.

Guangzhou Automobile Group Co., Ltd. (GAC Group) is a Chinese state-owned automobile manufacturer headquartered in Guangzhou, Guangdong. Founded in 1954, it is currently the fifth largest automobile manufacturer in China, with 2.144 million sales in 2021.

The company produces and sells vehicles under its own branding, such as Trumpchi, Aion, Hycan as well as under foreign-branded joint ventures such as GAC Toyota, GAC Honda, and GAC 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

Guangzhou Automobile Group Co., Ltd. was founded in 1955,[1] and in 2005[8] become a holding of Guangzhou Automobile Industry Group[9] and a joint-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 maker Changfeng Automobile, becoming its biggest shareholder.[12] GAC purchased the remaining portion of Changfeng in 2011 completing its acquisition of the company.[13]

Previously a backdoor listing via Denway 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 its privatization by GAC.[14] Denway Motors was subsequently delisted on 25 August 2010 and replaced by Guangzhou Automobile Group (SEHK: 2238) on 30 August 2010 via stock swap.[12]

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

In December 2010 GAC launched the new Trumpchi marque. Its initial product was based on the Alfa 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

Trumpchi/GAC

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

Aion

GAC New Energy Automobile Co is the NEV arm of GAC. GAC New Energy produces their own EV brand, Aion.

Former brands

Changfeng Motor (Leopaard) (discontinued)

In 2009, GAC owned 29% ownership of this SUV-maker[26][27] a purchase supposedly imposed by the Chinese state as a condition of a then-upcoming joint venture with Fiat.[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)

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

GAC Honda

Guangqi Honda is a 50:50 joint venture between GAC and Honda,[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, Everus in 2011.[31]

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

GAC Wuyang-Honda

Wuyang-Honda markets Honda Motorcycles for the Chinese market.[32]

GAC Toyota

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

GAC Hino

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

GAC BYD

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

Former joint ventures

Guangzhou Isuzu

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 (羊城汽车), a joint venture with Hong Kong China Lounge Logistics. Their light trucks are based on the Isuzu Elf and 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

One of the first Sino-western joint venture auto-making companies,[38] Guangzhou Peugeot Automobile Co. Ltd. was a joint venture set up by PSA Peugeot Citroën and the Guangzhou Municipal 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 the Peugeot 505 and 504.[42]

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

GAC Fiat Chrysler

Fiat signed 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 in Changsha, Hunan Province,[46] that opened on 28 June 2012[47] to manufacture the Fiat Viaggio.[48]

GAC Mitsubishi

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

Sales

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

GAC Group has been vocal about its plans to introduce models into the United States.[52] Trumpchi made its first appearance at the North American International Auto Show in 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 in Silicon Valley and Los Angeles in 2017 and 2018, respectively.[55] During the 2019 Detroit Auto Show they 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 to Donald 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

GAC was the sponsor of the 2011 World Table Tennis Championships held in Rotterdam and the title sponsor of the 2012 ITTF World Tour.[72]

GAC was the title sponsor of the 2013 World Team Cup Table Tennis tournament held in its home city of Guangzhou.[72]

See also

References

  1. ^ a b Milestones Archived 2011-04-26 at the Wayback Machine Guangzhou Automobile Industry Group Official Site
  2. ^ "Autoline Daily". Retrieved 3 March 2022.
  3. ^ a b "Annual Report 2012" (PDF). Guangzhou Automobile Group Co., Ltd. 2012. Retrieved 18 February 2014.
  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 Profile Archived 2012-04-15 at the Wayback Machine Guangzhou Automobile Group Co Ltd Official Site
  11. ^ a b "HK float for Guangzhou Auto". 1HangZhou. 23 January 2010. Retrieved 13 January 2013.
  12. ^ a b c d Joanne Chiu and Norihiko Shirouzu (16 July 2010). "Denway Motors's Shareholders Approve Share Swap". The Wall Street Journal.
  13. ^ a b Lee, Carmen (10 February 2012). "GAC Group's application to acquire Changfeng gains written approval". Automotive News. gasgoo.com. Archived from the original on 2 December 2013. Retrieved 23 June 2012.
  14. ^ "Denway Motors gets nod for privatisation". Reuters.com. 16 July 2010. Retrieved 25 October 2010.
  15. ^ "GAC's first own-brand car". People's Daily. 6 September 2010. Retrieved 27 April 2012.
  16. ^ "Guangzhou Auto Show: Guangzhou Auto Trumpchi Listed & Priced". Car News China. 20 December 2010. Retrieved 27 April 2012.
  17. ^ "Sales surge, but congestion concerns rise". people.com.cn. 15 November 2010. Retrieved 14 April 2012.
  18. ^ "GAC listed after 8-year marathon". people.com.cn. 6 September 2010. Retrieved 14 April 2012.
  19. ^ "China Car Market 101: Who Makes All Those 18 Million Cars?". thetruthaboutcars.com. 19 January 2011. Retrieved 14 April 2012.
  20. ^ 2011年前十家乘用车生产企业销量排名 [2011 Top Ten Automobile Manufacturers by Sales]. China Association of Automobile Manufacturers (CAAM). 20 January 2012. Archived from the original on 20 August 2012.
  21. ^ "Guangzhou Auto floats on SSE, completes dual-listing". China Economic Review. 30 March 2012. Archived from the original on 4 March 2016. Retrieved 4 August 2012.
  22. ^ "Chinese automaker GAC aims to use solid-state battery by 2026". Nikkei Asia. Retrieved 7 January 2024.
  23. ^ "GAC announces all-solid-state battery installation in 2026". www.kallanish.com. Retrieved 7 January 2024.
  24. ^ "GAC China says it's building "world first" ammonia engine for cars". 27 June 2023.
  25. ^ "China's GAC Unveils World's First Ammonia Car Engine". Bloomberg. 26 June 2023.
  26. ^ Fang Yan; Edmund Klamann (19 May 2009). "UPDATE 1-Guangzhou Auto to buy into Changfeng Motor". reuters.com. Retrieved 14 April 2012.
  27. ^ Fang Yan; Jacqueline Wong (10 November 2009). "UPDATE 2-Changan Auto claims China's No.3 spot with AVIC deal". reuters.com. Retrieved 14 April 2012.
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  29. ^ "LieBao Vehicle official website".
  30. ^ Leung, Alison (22 November 2009). "China's Guangqi Honda at 95 pct of 2009 sales target". reuters.com. Retrieved 13 January 2013.
  31. ^ Kim, Chang-Ran (17 December 2010). "Honda targets China sales of 730,000 units in 2011". reuters.com. Retrieved 13 January 2013.
  32. ^ "五羊-本田摩托（广州）有限公司". www.wuyang-honda.com. Retrieved 30 August 2021.
  33. ^ "GAC-Toyota rolls off one millionth car in China". China Automotive Review. 8 September 2011. Retrieved 12 April 2012.
  34. ^ "BYD, GAC to form EV joint venture". Automotive News. 26 November 2013. Retrieved 30 August 2021.
  35. ^ "GB Bus Official Website". Archived from the original on 15 October 2021. Retrieved 30 August 2021.
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  37. ^ a b "Guangzhou Auto's bus company unveiled". China Daily. 18 September 2008. Retrieved 8 January 2014.
  38. ^ a b Changing lanes in China: foreign direct investment, local government, and auto sector development (page 137) Eric Thun. Cambridge University Press, 2006. 326 pages.
  39. ^ China CEO: a case guide for business leaders in China (page 78) Juan Antonio Fernandez, Liu Shengjun. John Wiley and Sons, 2007. 286 pages.
  40. ^ a b China CEO: a case guide for business leaders in China (page 86) Juan Antonio Fernandez, Liu Shengjun. John Wiley and Sons, 2007. 286 pages.
  41. ^ Fernandez and Liu, p. 79
  42. ^ Changing lanes in China: foreign direct investment, local government, and auto sector development (page 138) Eric Thun. Cambridge University Press, 2006. 326 pages.
  43. ^ "广汽菲亚特" [Guangzhou Automobile Fiat]. Gacfiatauto.com. 3 April 2012. Archived from the original on 21 April 2012. Retrieved 13 April 2012.
  44. ^ Rowley, Ian (7 July 2009). "Fiat Focuses on China". businessweek.com. Archived from the original on 10 July 2009.
  45. ^ Company Profile Archived 2012-03-22 at the Wayback Machine GAC Fiat Official Site
  46. ^ Han, Tianyang (30 November 2009). "GAC-Fiat ceremony heralds joint venture". China Daily. Retrieved 12 August 2016.
  47. ^ "Fiat opens new Chinese plant to produce Viaggio". MSNBC. 28 June 2012. Retrieved 10 July 2012. [dead link]
  48. ^ "2013 Fiat Viaggio". Car and Driver. April 2012. Retrieved 10 July 2012.
  49. ^ For start of operations, see "Production and Sales of Pajero Sport Midsize SUV Begins in China". Press Release. Mitsubishi Motors. 30 September 2013. Retrieved 10 October 2013.
    • For 2010 MoU, see "Mitsubishi, GAC Sign Joint Venture MOU, to Build ASX Compact SUV". ChinaAutoWeb.com.
  50. ^ "HOME | Automotive Industry Portal MarkLines | Portal". www.marklines.com. Retrieved 2 December 2022.
  51. ^ "广汽传祺正式公布了2023年度销量成绩单_车家号_发现车生活_汽车之家" [GAC Trumpchi officially announced its 2023 sales report card]. Auto Home (in Chinese (China)). China. Retrieved 3 January 2024.
  52. ^ Spring, Jake (22 April 2017). "Eyeing U.S. market, Chinese automaker may change Trumpchi brand name". Reuters. Retrieved 30 August 2021.
  53. ^ a b "2013 Detroit Auto Show: Chinese Auto Giant GAC Is Showing Its Own Cars, Albeit On The Fringes". International Business Times. 17 January 2013. Retrieved 18 January 2013.
  54. ^ "China's GAC Group brings E-jet Concept, and bad translation, to Cobo". Auto Blog. 16 January 2013. Retrieved 18 January 2013.
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  56. ^ LeBeau, Phil (14 January 2019). "Chinese automaker GAC motor delays plans to sell in US until 2020". CNBC. Retrieved 21 December 2019.
  57. ^ "China's GAC Motor delays U.S. entry on trade frictions". Automotive News. 22 May 2019. Retrieved 21 December 2019.
  58. ^ a b "GAC MOTOR celebrates entry into Lebanon market".
  59. ^ a b "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. Retrieved 21 December 2019.
  61. ^ "Guangzhou Automobile Group MOTOR Co., Ltd".
  62. ^ a b "GAC MOTOR In The Last Two Weeks: Opening New Regional Showrooms, Releasing New Cars Models And Enter to New Markets". GAC Group. Retrieved 3 June 2019.
  63. ^ "GAC Motor Delivers 150 GA3Ss to PoliceForce of Nigeria". GAC Group. Retrieved 3 June 2019.
  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 from the original on 27 June 2021. Retrieved 27 March 2019.
  66. ^ Subido, Paulo Rafael (7 November 2018). "Chavit Singson is the new distributor of GAC Motor in PH. Here are the prices". Top Gear Philippines. Summit Media. Retrieved 26 June 2019.
  67. ^ "Aljomaih Automotive celebrates the launch of GAC Motor in Saudi | Motory Saudi Arabia". ksa.motory.com. Retrieved 21 December 2019.
  68. ^ "GAC Motor llega a Ecuador con el respaldo de Impofactor". 25 May 2019.
  69. ^ "Guangzhou Automobile Group MOTOR Co., Ltd". Archived from the original on 7 May 2022.
  70. ^ "Strive for More: GAC MOTOR Announces Brand and GS8 Launch in Russia" (Press release).
  71. ^ "GAC Motor's Debut at 2019 St. Petersburg International Motor Show Launches New Journey In Russian Market". GAC Group. Archived from the original on 18 December 2019. Retrieved 3 June 2019.
  72. ^ a b "GAC Group deepens table tennis commitment". SportsPro. 14 May 2012. Retrieved 17 May 2012.

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