Changfeng Motor Explained

GAC Changfeng Motor Co., Ltd.
Type:Subsidiary of Guangzhou Automobile Group
Foundation:1950 (Original establishment)
1996 (CMC establishment)
2009-12-30 (GAC Changfeng Motor Co., Ltd.)
Area Served:China
Location City:Changsha, Hunan
Location Country:China
Industry:Automotive
Products:Automobiles

GAC Changfeng Motor Co Ltd[1] is a Chinese automobile manufacturer wholly owned by GAC Group but which originated as a branch of the People's Liberation Army. Changfeng produced mainly light trucks, and as of 2008 the majority of their sales had been to the Chinese state.

The company has manufactured license built Mitsubishi Pajero copies sold in China under the Mitsubishi brand as well as Pajero variations that bear the brand name Lièbào, which means cheetah, the Lièbào name later transformed into Leopaard.[2] [3] They also offer two variations of Mitsubishi pickups: Fine, and Flying. The Kylin was a compact hatchback offered during a short-lived, three year, joint venture with Bird Technology, a Chinese mobile phone maker. Its name, from a mythical Chinese beast, the qilin.[4] The Kylin was included in Changfeng's appearance at the Detroit Auto show in 2008.

History

Hunan Changfeng Motor Co. era

Changfeng had its origins in No.7319 Factory,[5] which was a small repair facility for military equipment.[6] Production of SUVs (license built Beijing BJ2020s) began in 1988, and in 1996 the name of the company was changed to Changfeng Auto Manufacturing. Until 1996, the company was a commercial affiliate of the People's Liberation Army (PLA).[7] The 1991 Mitsubishi Pajero has been built by Changfeng since 1995.[5] The company has exclusively produced light trucks.

In 2009-12-25, Hunan Changfeng Motor Co. announced the company name would be changed to GAC Changfeng Motor Co., Ltd. (湖南长丰汽车制造股份有限公司), effective in 2009-12-30.[8]

GAC Changfeng Motor Co., Ltd. era

Acquisition by GAC Group

Prior a minority shareholder with only 29% ownership,[9] GAC Group took control of Changfeng in 2012 after a long run-up dating from 2009[10] that included promises to turn the company into a joint venture with Mitsubishi.[9] Previously, 22% of the company was owned by Changfeng Group[11] and another 15% by Mitsubishi.[10] These stakes were sold in 2011. As a result of being acquired by GAC, the company was delisted from the Shanghai stock exchange on March 20, 2012.

During the acquisition process, Changfeng's Shanghai listed stock fluctuated wildly leading to its suspension from October 28, 2010, until sometime after March 17, 2011.[12]

Bankruptcy

As of July 2021, Hunan Leopaard Motors Co., Ltd. has declared bankruptcy.[13] The news follows predictions and evaluations done in October 2019, stating that Leopaard Motors would be bankrupt by the end of 2019 due to slow sales.[14]

Subsidiaries

In late 2010, Mitsubishi and Guangzhou Automobile Group signed a memorandum of understanding to set up a new equally owned joint venture by restructuring Changfeng.[15] Although this would have required Mitsubishi to increase its ownership to fifty percent,[9] in 2011 Mitsubishi sold its entire stake in the company, instead.

In 2011, it was reported that GAC would take control of Changfeng's Lièbào brand, which markets SUVs based on the Mitsubishi Pajero built in Changsha and Yongzhou. Production in Changsha was to be discontinued after the transfer to GAC.[16]

Products

The representing main brand of Changfeng Motor is currently Leopaard, which mainly sells SUVs and crossovers. Available products are listed below.

Leopaard

Passenger car

The company premiered a concept car at the 2009 Auto Shanghai, and a sedan, the CP2, was revealed at the 2011 Shanghai Autoshow.[19]

Mitsubishi

Since 1995, Changfeng has produced license-built Mitsubishi vehicles for both military and civilian use,[20] and until 2011, this Japanese automaker held 15% ownership of the company.[21]

Production

Changfeng had assembly plants in Yangzi, Anhui province, as well as Changsha and Yongzhou, Hunan province; component factories in Hengyang, Hunan, and in Huizhou, Guangdong province.[22]

Export

While most of Changfeng's sales were domestic, since 2006 the company had also exported vehicles to Russia, the Southeast Asia, Middle East, and Africa. Such exports are most likely to be of a nominal nature.

Sales

It was reported that the company sold between 30,000 and 50,000 vehicles a year from 2009 to 2011.[23]

State as primary customer:Originally a company associated with the PLA, it has historically manufactured primarily for Chinese state use. As of 2008, most sales, close to seventy percent,[24] were to police, military, and other government agencies.[25]

Notes and References

  1. Web site: 广汽长丰汽车股份有限公司 600991 . https://web.archive.org/web/20120310190850/http://www.sse.com.cn/sseportal/webapp/datapresent/SSEQueryListCmpAct?reportName=QueryListCmpRpt&COMPANY_CODE=600991 . dead . March 10, 2012 . Guangzhou Automobile, Changfeng Automobile Co., Ltd. (600991) . Shanghai Stock Exchange . June 23, 2012 .
  2. Web site: Guangzhou Auto Acquires Small SUV Maker Changfeng Motor chinabuses.com, . 2009-10-02 . https://web.archive.org/web/20130928231337/http://english.chinabuses.com/news/2009/0531/article_1549.html . 2013-09-28 . dead .
  3. https://web.archive.org/web/20070121112837/http://www.cfmotors.com/doce/product/pajero.asp Pajero Changfeng Official Site (Web Archive)
  4. Web site: China Auto Web.
  5. Book: World of Cars 2006·2007 . Media Connection Sp. z o.o. . Warsaw, Poland . 228 . 2006 .
  6. http://www.motortrend.com/auto_news/112_news070109_changfeng_motors/index.html The Chinese are coming! Superexcellent! Changfeng is latest Chinese automaker with U.S. dreams
  7. Web site: Mitsubishi Motors Plans to Double Stake in China's Changfeng . Bloomberg . 20 June 2003 . 2013-09-22 .
  8. Web site: http://www.gaccf.com/about/InvestorDetail.aspx?t=7&iid=111 . zh:湖南长丰汽车制造股份有限公司 关于公司名称及证券简称变更的公告. Hunan Changfeng Motor Co announcement on the company name and the securities referred to change . zh . Changfeng Motor . 25 December 2009 . 26 July 2010. https://web.archive.org/web/20100726020743/http://www.gaccf.com/about/InvestorDetail.aspx?t=7&iid=1117.
  9. Web site: GAC to form Mitsubishi JV based on GAC Changfeng . Thomson Reuters . reuters.com . Nov 6, 2010 . 22 September 2013.
  10. Web site: Yan, Fang . Klamann, Edmund . UPDATE 1-Guangzhou Auto to buy into Changfeng Motor -source . Thomson Reuters . reuters.com . May 19, 2009 . 2010-12-21 .
  11. http://english.peopledaily.com.cn/90001/90778/90860/7199064.html Lagging far behind, Mitsubishi looks to new joint partnership
  12. For 2009 volatility, see Web site: Hunan Changfeng Motor Co stock exchange notice unusual fluctuations . Changfeng Motor . February 2009 . June 23, 2012.
  13. News: 猎豹汽车已申请破产重组，曾经的SUV巨头或将退出历史舞台.
  14. News: Trouble bodes for Chinese EV industry.
  15. News: Mitsubishi, GAC Sign Joint Venture MOU, to Build ASX Compact SUV . ChinaAutoWeb.com. https://web.archive.org/web/20180824172842/http://www.chinaautoweb.com/2010/11/mitsubishi-gac-sign-joint-venture-asx-suv/. 2018-08-24.
  16. Web site: Liebao to become GAC's second own brand . Jan 20, 2011 . Carmen Lee . Gasgoo .
  17. Web site: GAC Mitsubishi Motors Co., Ltd., a Joint Venture of Guangzhou Automobile Group Co., Ltd., Mitsubishi Motors Corporation and Mitsubishi Corporation, Commences Operation . October 12, 2012.
  18. Web site: LieBao Vehicle official website.
  19. For 2009 concept, see Web site: Changfeng Acumen at 2009 Guangzhou Auto Show. Nov 25, 2009 . July 6, 2010 . https://web.archive.org/web/20100706210450/http://www.insideline.com/changfeng/changfeng-acumen-at-2009-guangzhou-auto-show.html . Inside Line.
  20. http://www.chinacartimes.com/2009/06/25/mitsubishi-pajero-to-become-a-changfeng-pajero/ Mitsubishi Pajero to become a Changfeng Pajero?
  21. News: GAC Group's application to acquire Changfeng gains written approval . Automotive News . February 10, 2012 . gasgoo.com . June 23, 2012 . Lee, Carmen . dead . https://web.archive.org/web/20131202231251/http://autonews.gasgoo.com/china-news/gac-group-s-application-to-acquire-changfeng-gains-120210.shtml . December 2, 2013 .
  22. Web site: EMERGING MARKETS ANALYSIS: Changfeng Motor 'goes Borat' . Jan 24, 2007 . Mark Bursa . Just-auto . August 4, 2012 . May 22, 2013 . https://web.archive.org/web/20130522211825/http://www.just-auto.com/analysis/changfeng-motor-goes-borat_id90227.aspx . dead .
  23. Web site: GAC Changfeng Motor . China Auto Web .
  24. http://www.hktdc.com/info/vp/a/pprd/en/2/1/1/1X04MBMH/Changfeng-Motors-Mitsubishi-To-Expand-Cooperation.htm Changfeng Motors, Mitsubishi to expand cooperation
  25. http://www.chinadaily.com.cn/bizchina/2008-01/15/content_6394879_2.htm Mitsubishi, Changfeng to form China auto JV

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