Guangzhou Automobile Group Co., Ltd. (GAC Group) is a Chinese
state-owned
State ownership, also called government ownership and public ownership, is the ownership of an industry, asset, or enterprise by the state or a public body representing a community, as opposed to an individual or private party. Public owne ...
automobile manufacturer headquartered in
Guangzhou
Guangzhou (, ; ; or ; ), also known as Canton () and Chinese postal romanization, alternatively romanized as Kwongchow or Kwangchow, is the Capital city, capital and largest city of Guangdong Provinces of China, province in South China, sou ...
,
Guangdong
Guangdong (, ), alternatively romanized as Canton or Kwangtung, is a coastal province in South China on the north shore of the South China Sea. The capital of the province is Guangzhou. With a population of 126.01 million (as of 2020 ...
. 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, it was the fourth largest Chinese plug-in electric vehicle manufacturer in the Chinese market, with 4% of market share. 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.
History
Guangzhou Automobile Group Co., Ltd. was founded in 1955,Milestones Guangzhou Automobile Industry Group Official Site and in 2005Company Profile Guangzhou Automobile Group Official Site (Text-only Google cache) become a holding of
Guangzhou Automobile Industry Group
Guangzhou Automobile Industry Group Co Ltd (GAIG, ) Introduction">Home > About Us > Introduction GAIG Official Site is a Chinese state-owned joint stock holding company that owns several Chinese automakers.
A Chinese partner of Japanese compa ...
Guangzhou Automobile Group Co., Ltd. businessweek.com, Company Snapshot and a
joint-stock company
A joint-stock company is a business entity in which shares of the company's stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their shares (certificates of ownership). Shareholders a ...
.Home > About us > Company Profile Guangzhou Automobile Group Co Ltd Official Site As of 2009 it was the 6th-largest automaker in China.
In 2009, the company acquired 29% of the Chinese sport-utility vehicle maker
Changfeng Automobile
GAC Changfeng Motor Co Ltd 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 ...
, becoming its biggest shareholder. GAC purchased the remaining portion of Changfeng in 2011 completing its acquisition of the company.
Previously a
backdoor listing
A reverse takeover (RTO), reverse merger, or reverse IPO is the acquisition of a public company by a private company so that the private company can bypass the lengthy and complex process of going public. Sometimes, conversely, the public compan ...
via Denway Motors, GAC became listed under its own name on the Stock Exchange of Hong Kong in 2010. In that year shareholders of Denway Motors approved its
privatization
Privatization (also privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when ...
by GAC. Denway Motors was subsequently
delisted
In corporate finance, a listing refers to the company's shares being on the list (or board) of stock that are officially traded on a stock exchange. Some stock exchanges allow shares of a foreign company to be listed and may allow dual listing, su ...
on 25 August 2010 and replaced by Guangzhou Automobile Group () on 30 August 2010 via
stock swap
In corporate finance a stock swap is the exchange of one equity-based asset for another, where, during the merger or acquisition, the swap provides an opportunity to pay with stock rather than with cash; see .
Overview
The acquiring company e ...
.
In late 2010 GAC purchased 51% ownership of
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 Go ...
, a midsize Chinese automaker of sport-utility vehicles, subcompacts, and pickup trucks.
In December 2010 GAC launched the new
Trumpchi
Trumpchi () is an automotive marque owned by the Chinese automaker GAC Group. It was launched in December 2010.
History
GAC began the construction of facilities to produce vehicles for a new own-brand automotive marque in 2008. The first Trum ...
marque. Its initial product was based on the
Alfa Romeo 166
The Alfa Romeo 166 (Type 936) is an executive car produced by the Italian automaker Alfa Romeo, between 1996 and June 2007. The car was designed by Centro Stile Alfa Romeo, under the control of Walter de Silva, and was facelifted in September 20 ...
.
In 2010 GAC was among the ten largest Chinese carmakers reaching number six and selling 724,200 vehicles.
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.
In early 2012, the company was listed on the Shanghai Stock exchange.
Owned brands
Trumpchi
Trumpchi is an automotive marque owned by GAC Group and launched in December 2010.
File:GAC Trumpchi GA4 01 China 2018-03-20.jpg, Trumpchi GA4
File:2019 GAC Trumpchi GS5 (front).jpg, Trumpchi GS5
File:Trumpchi GM8 01 China 2018-03-20.jpg, Trumpchi GM8
Aion
GAC New Energy Automobile Co is the NEV arm of GAC. GAC New Energy produces their own EV brand, Aion.
File:GAC Aion LX 001.jpg, Aion LX
File:GAC Aion S 001.jpg, Aion S
File:Aion Y 2021092601.jpg, Aion Y
Hycan
Hycan is a brand by GAC-NIO New Energy Technology Co., Ltd., a
joint venture
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acces ...
between Chinese automobile manufacturers GAC Group and
Nio Inc.
Nio Inc. (; stylised as NIO) is a Chinese multinational automobile manufacturer headquartered in Shanghai, specializing in designing and developing electric vehicles. The company is known for its development of battery-swapping stations for it ...
, founded in April 2019 to produce
electric
Electricity is the set of physical phenomena associated with the presence and motion of matter that has a property of electric charge. Electricity is related to magnetism, both being part of the phenomenon of electromagnetism, as described by ...
vehicles. In early 2021, GAC took a controlling stake in the company, diluting Nio's share to 4.5%.
Changfeng Motor (Leopaard) (discontinued)
In 2009, GAC owned 29% ownership of this SUV-maker a purchase supposedly imposed by the Chinese state as a condition of a then-upcoming joint venture with
Fiat
Fiat Automobiles S.p.A. (, , ; originally FIAT, it, Fabbrica Italiana Automobili di Torino, lit=Italian Automobiles Factory of Turin) is an Italian automobile manufacturer, formerly part of Fiat Chrysler Automobiles, and since 2021 a subsidiar ...
. GAC completed its acquisition of Changfeng in 2011. 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 oversea manufacturing and marketing of vehicles under the Liebao or "Leopaard" brand.
File:Leopaard CS3 BEV 001.jpg, Leopaard CS3 BEV
File:Leopaard CS9 001.jpg, Leopaard CS9
File:Leopaard Mattu.jpg, 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.
File:Gonow Emei 2 China 2015-04-06.jpg, Gonow Emei
File:Gonow Aoosed G5 01 China 2015-04-10.jpg, Gonow G5
File:GAC Gonow Way 1000 2015 (19003365221).jpg, Gonow Way M1
Joint venture brands
GAC Honda
Guangqi Honda is a 50:50 joint venture between GAC and
Honda
is a Japanese public multinational conglomerate manufacturer of automobiles, motorcycles, and power equipment, headquartered in Minato, Tokyo, Japan.
Honda has been the world's largest motorcycle manufacturer since 1959, reaching a producti ...
, 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
Everus (Li Nian) is a car marque of Guangqi Honda, a joint venture between Honda and Guangzhou Automobile Group (GAC Group). Honda became the first foreign automaker to develop vehicles under a brand owned by its local joint venture automaker in ...
in 2011.
File:Everus S1 facelift 01 China 2014-04-15.jpg, Everus S1 (facelift)
File:Everus VE-1 001.jpg, Everus VE-1 EV
GAC Mitsubishi Motors is a joint venture between GAC and the Japanese automaker
Mitsubishi Motors
is a Japanese multinational automobile manufacturer headquartered in Minato, Tokyo, Japan.memorandum of understanding.
GAC Toyota
GAC Toyota Motor Co., Ltd. is a 50:50 joint venture between GAC and
Toyota Motor Company
is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on . Toyota is one of the largest automobile manufacturers in the world, producing about 10 ...
which manufactures Toyota vehicles for the Chinese market. It was founded in 2004 and is headquartered in Guangzhou.
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 busses under GAC's brand name.
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. Isuzu light trucks and buses were also built by Guangzhou Yangcheng Automobile (), a joint venture with Hong Kong China Lounge Logistics. Their light trucks are based on the
Isuzu Elf
The is a medium duty truck produced by Isuzu since 1959. Outside Japan it is known as N series and Q Series. The range was originally mainly available in Japan and other Asian countries. Australia was another important market for the Elf and ...
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. At the same time, Guangzhou Yangcheng's truck making arm was merged into Guangzhou Hino.
joint venture
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acces ...
set up by
PSA Peugeot Citroën
The PSA Group (), legally known as Peugeot S.A. (Peugeot Société Anonyme, trading as Groupe PSA; formerly known as PSA Peugeot Citroën from 1991 to 2016) was a French multinational automotive manufacturing company which produced automobiles ...
and the
Guangzhou
Guangzhou (, ; ; or ; ), also known as Canton () and Chinese postal romanization, alternatively romanized as Kwongchow or Kwangchow, is the Capital city, capital and largest city of Guangdong Provinces of China, province in South China, sou ...
Peugeot 505
The Peugeot 505 is a large family car produced by the French manufacturer Peugeot from 1979 to 1992 in Sochaux, France. It was also manufactured in various other countries including Argentina (by Sevel from 1981 to 1995), China, Thailand (by Yon ...
Fiat
Fiat Automobiles S.p.A. (, , ; originally FIAT, it, Fabbrica Italiana Automobili di Torino, lit=Italian Automobiles Factory of Turin) is an Italian automobile manufacturer, formerly part of Fiat Chrysler Automobiles, and since 2021 a subsidiar ...
signed on to a joint venture with GAC on 6 July 2009, and GAC FIAT Automobiles Co Ltd was incorporated on 9 March 2010. The new company has a production base in
Changsha
Changsha (; ; ; Changshanese pronunciation: (), Standard Mandarin pronunciation: ) is the capital and the largest city of Hunan Province of China. Changsha is the 17th most populous city in China with a population of over 10 million, and ...
,
Hunan
Hunan (, ; ) is a landlocked province of the People's Republic of China, part of the South Central China region. Located in the middle reaches of the Yangtze watershed, it borders the province-level divisions of Hubei to the north, Jiangx ...
Province, that opened on 28 June 2012 to manufacture the Dodge Dart-based
Fiat Viaggio
The Dodge Dart is a front-engine, front-wheel drive, four-door compact sedan that was manufactured and marketed by then FCA US LLC, a subsidiary of Fiat Chrysler Automobiles. The automobile made its debut at the 2012 North American Internatio ...
.
Sales
International operations
GAC Group has been repeatedly vocal about plans to introduce models to the
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country Continental United States, primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., ...
.
Trumpchi made its first appearance at the
North American International Auto Show
The North American International Auto Show (NAIAS), also known as the Detroit Auto Show as of 2022 and prior to NAIAS, is an annual auto show held in Detroit, Michigan, U.S., at Huntington Place. The show was held in January from 1989 to 2019. ...
in Detroit in January 2013, where the Trumpchi E-Jet concept made its world debut. In 2017, the company returned and showed three SUVs and two sedans. In January 2018, Trumpchi brought five new models and a concept SUV, the Enverge. GAC established research and development teams in
Silicon Valley
Silicon Valley is a region in Northern California that serves as a global center for high technology and innovation. Located in the southern part of the San Francisco Bay Area, it corresponds roughly to the geographical areas San Mateo Cou ...
and
Los Angeles
Los Angeles ( ; es, Los Ángeles, link=no , ), often referred to by its initials L.A., is the largest city in the state of California and the second most populous city in the United States after New York City, as well as one of the world ...
in 2017 and 2018, respectively.
On 15 May 2015, GAC Group launched a ceremony to celebrate the opening of its Lebanese office under
Bazerji Motors SAL. 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.
During the 2019 Detroit Auto Show they announced delays to their sales plans to the first half of 2020.
On 22 May 2019, an indefinite postponement of their US market plans was announced due to the China–U.S. trade war.
On 20 November 2020, GAC Group established a branch in Chile.
Sponsorships
GAC was the sponsor of the
2011 World Table Tennis Championships
The GAC GROUP 2011 World Table Tennis Championships was held at the Ahoy indoor sporting arena in Rotterdam, Netherlands from May 8 to May 15, 2011. This decision was announced in February 2008. It was the 51st edition contested. The tournament w ...
held in Rotterdam and the title sponsor of the 2012
ITTF World Tour
The ITTF World Tour, known as the ITTF Pro Tour until 2011, is an annual series of table tennis tournaments introduced by International Table Tennis Federation (ITTF) in 1996. The tour includes events in seven categories: Men's and Women's Sing ...