| Dongfeng Automobile Company | |||||||||||||||||||||||||||||||||
| Trade Name: | DFAC | ||||||||||||||||||||||||||||||||
| Type: | Public | ||||||||||||||||||||||||||||||||
| Industry: | Automobile | ||||||||||||||||||||||||||||||||
| Founder: | Dongfeng Motor Corporation | ||||||||||||||||||||||||||||||||
| Hq Location City: | Xiangyang, Hubei | ||||||||||||||||||||||||||||||||
| Hq Location Country: | China | ||||||||||||||||||||||||||||||||
| Num Employees: | 6,624 | ||||||||||||||||||||||||||||||||
| Num Employees Year: | 2017 | ||||||||||||||||||||||||||||||||
| Production: | 201,449 units | ||||||||||||||||||||||||||||||||
| Production Year: | 2017 | ||||||||||||||||||||||||||||||||
| Products: | Light commercial vehicle | ||||||||||||||||||||||||||||||||
| Revenue Year: | 2017 | ||||||||||||||||||||||||||||||||
| Net Income Year: | 2017 | ||||||||||||||||||||||||||||||||
| Assets Year: | 2017 | ||||||||||||||||||||||||||||||||
| Equity Year: | 2017 | ||||||||||||||||||||||||||||||||
| Parent: | Dongfeng Motor Co., Ltd. | ||||||||||||||||||||||||||||||||
| Footnotes: | in consolidated financial statement; figure included discontinued subsidiary Zhengzhou Nissan[1] | ||||||||||||||||||||||||||||||||
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Dongfeng Automobile Co., Ltd. (abb. DFAC) is a Chinese automobile company based in Xiangyang, Hubei. It is a subsidiary of Dongfeng Motor Co., Ltd. (DFL) which is a joint venture of Dongfeng Motor Group (DFG) and Nissan. DFG is majority owned by Dongfeng Motor Corporation, a Chinese state-owned enterprise.
It makes light commercial vehicles for the Chinese market.[1] It also makes diesel engines in a 50-50 joint venture with Cummins, Inc. known as Dongfeng Cummins Engine Co. Ltd.[1]
, DFAC is a constituent of small cap index SSE 380 Index.[2]
The predecessors of Dongfeng Automobile Company, were a light commercial vehicles factory, an engine factory and a foundry[3] of Dongfeng Motor Corporation,[4] [5] that were located in Xiangyang, Hubei province. Founded in Shiyan in 1969, the ultimate parent company Dongfeng Motor Corporation was headquartered in Wuhan, the provincial capital of Hubei since 2003.[6] However, the headquarter of Dongfeng Automobile Company was remained at Xiangyang.
The first factory of Dongfeng Motor in Xiangyang was first built in 1983.[7]
Dongfeng Automobile Company Limited (; abb. DFAC) was incorporated as a subsidiary (70% shares) of Dongfeng Motor Corporation on 21 July 1999, the date of receiving the license of incorporation,[1] or 15 July, the date of the first annual general meeting.[5] In the same year the rest of the shares were floated on the Shanghai Stock Exchange.[5] The company also signed a leasing agreement with Dongfeng Motor Corporation, regarding the land lease and trademarks.[5]
In 2001, the shares held by Dongfeng Motor Corporation were transferred to an intermediate parent company Dongfeng Motor Group (; known as Dongfeng Motor Co., Ltd. at that time), as part of a debt restructuring.[1] In 2003, the shares were transferred again, to a Sino-Japanese joint venture [new] Dongfeng Motor Co., Ltd. .[1]
In 2010, it was reported that the company started to build its electric bus assembly line.[8]
Dongfeng Cummins Engine Co., Ltd. (; abb. DCEC), a joint venture of Cummins and Dongfeng in Xiangyang (formerly called Xiangfan), was established in 1995.[13] It manufactured heavy duty vehicle engines.[14]
[1] DFAC was majority owned by a joint venture Dongfeng Motor Co., Ltd., making DFAC was indirectly owned by the Chinese Government (via Dongfeng Motor Corporation), the French State (via Renault), H share shareholders of Dongfeng Motor Group and other shareholders of Nissan and Renault (via Nissan).
The Chinese Government also owned an additional 2.74% shares via their sovereign wealth fund Central Huijin as the second largest shareholder of Dongfeng Automobile Company.
The light commercial vehicle products of Dongfeng Automobile Company are sold under the DFAC brand.
The electric light commercial vehicle products of Dongfeng Automobile Company are Dongfeng Electric Light Trucks sold under the DFAC or Captain (凯普特) brand.[15]
The electric commercial vans of Dongfeng Automobile Company are mainly developed for the logistics industry and are mainly rebadged variants of gasoline-powered vans sold under the Yufeng series. The Dongfeng Yufeng was originally a full size van,[16] which later spawned an electric variant called the Yufeng EM19 which became the start of the Yufeng series.
The light commercial vehicle products of Dongfeng Automobile Company are sold under the Dongfeng Automobile Company subsidiary, Vasol (Dongfeng Huashen) (东风华神) brand.