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Lawrence

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#3 ·
Re: JMCGL Qiling A7 (JML6471)

Tienu is privately owned, and Jiangling is an SOE. But for that difference I would say that this is another example of Beijing's pressure to consolidate, and cooperate. And evidence of that pressure, we have been seeing much more of these days.
 
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Discussion Starter · #5 · (Edited)
Dorcen

Jiangxi Jiangling Group Light Vehicle Co., Ltd. (JMCGL), the Fuzhou-based manufacturer of Qiling range of pickup trucks, has been sold to Jiangsu Jintan Changdanghu New Energy Technology Co., Ltd. It has been renamed Jiangxi Dacheng Automobile Co., Ltd.. Studying the company profile, it appears that the new owner Jiangsu Jintan Changdanghu had already injected capital and bought 49.5% of the company back in May 2017; later in January 2018, it purchased additional shares from a third shareholder (not JMC Group) to bring its stake up to 67%. The JMC Group retains 19% equity.

Jiangsu Jintan Changdanghu New Energy Technology Co., Ltd. is the holding company of the Jiangsu Jintan Auto group headed by Wu Hao, the son of Wu Jianzhong.

Wu Jianzhong was till recently the chairman of Zotye Auto and had been involved with Zotye from its very early beginnings. Even now the Wu family has a close working relationship with the Tech-New/Anhui Zotye group. In fact, Jiangsu Jintan Auto Group exercises significant ownership control, via subsidiaries, over Jiangsu Jintan Automobile Industry Co., Ltd. which operates Zotye's Jintan (Changzhou) plant.

Jiangxi Dacheng Auto will launch its own brand "DAICEN" shortly and is expected to unveil its first car in the 4th quarter of this year. This is most likely the G70/G70S based on the Zotye Domy X7/X7S (link). A version of the Domy X5 is also in their model program (link). Interestingly, both the Domy X7 and X5 are currently manufactured at the Jintan plant of Zotye (see above para). However, the DAICEN version will be made in Fuzhou.

The Qiling pickups inherited from JMCGL are also likely to move over to the DAICEN brand.

Article: http://auto.gasgoo.com/News/2018/07/1308084484470050559C102.shtml

UPDATE: 07-16-2018 The new brand will be DORCEN

Company profiles:
Jiangxi Dacheng Automobile Co., Ltd. (formerly JMCGL, based in Fuzhou)
Jiangsu Jintan Changdanghu New Energy Technology Co., Ltd. (the new owner)
Jiangsu Jintan Automobile Industry Co., Ltd. (subsidiary of Jiangsu Jintan Changdanghu, operates Zotye's Jintan plant)
Jiangxi Dacheng Automobile Industry Co., Ltd. (subsidiary of Jiangsu Jintan Changdanghu, new company for production of auto parts, based in Fuzhou)
 
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Discussion Starter · #7 · (Edited)
Re: JMCGL sold to Zotye associates

ausrutherford said:
Interesting considering Zotye has a new JV with Ford, and Ford has a preexisting JV with JMCG for JMC.

Does this purchase also include their electric vehicle line?
Click to expand...
While it is true that the car electrification effort was led by JMCGL and JMH during the initial phase (with the E100), the JMEV/EVEasy line is now the prerogative of Jiangxi Jiangling Group New Energy Automobile Co., Ltd. which is jointly owned by JMCG and the Agricultural Development Bank of China, with a small stake owned by Nanchang ETDZ SASAC (the local administration).

The sale of JMCGL to the Jintan Auto group concerns the Fuzhou assets.

JMC is a JV of Ford and JMH.
 
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Discussion Starter · #9 · (Edited)
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Discussion Starter · #11 · (Edited)
Re: Zotye Domy (Damai) X7

ausrutherford said:
So Dorcen is a brand under Tech-New as well? Or a separate company licensing the product?
Click to expand...
No, Dorcen is a brand to be launched by the Jiangsu Jintan Auto group belonging to the Wu family who are close associates of the owners of Tech-New/Tieniu. The Wu family patriarch, Wu Jianzhong, was an old hand at Zotye and even had been president and chairman of Zotye Auto. Tech-New has no direct role regarding the Dorcen brand.

Jiangsu Jintan Auto group has two car plants at its disposal now: one in Jintan Dt., Changzhou, making the Domy X5, X7 and Zema for Zotye. For the outside world, it is like any other Zotye plant, but in fact is majority controlled by the Jiangsu Jintan Auto group.

The second one is the JMCGL plant in Fuzhou, Jiangxi, which was acquired from the JMC Group and which has been making Qiling pickups. JMCGL has been renamed Jiangxi Dacheng Automobile Co., Ltd. and according to MIIT records, the G70 and G60 models of Dorcen will be made here. Dorcen is Romanized from Dacheng.

Prima facie it appears that Dacheng is licensing the models from Zotye. Perhaps we will know more after the launch.
 
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Discussion Starter · #12 ·
Dorcen

An interview with Wu Hao, chairman of Dacheng Automobile:

https://www.autohome.com.cn/news/201809/922298.html

On page 2 of the article, the reporter mentions seeing G70S being manufactured at the Jiangsu (Jintan) plant, which is not surprising because the Domy X7 is being made there already.

Besides acquiring the former JMCGL factory in Fuzhou, Dacheng has broken ground on a new integrated automobile production complex in Fuzhou last October. This is a greenfield project and will house facilities for the manufacture of commercial and passenger vehicles, NEVs, and automotive components.
 
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