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Xinkai sold to Jinpeng group

Xinkai Automobile Group Co., Ltd. has been acquired by Jiangsu Jimai New Energy Vehicle Co., Ltd. based in Xuzhou Industrial Park, Xuzhou, Jiangsu Province. The transaction, which took effect in December 2018, makes Xinkai a 100% subsidiary of Jimai New Energy Vehicle. As we know, Xinkai, registered as a "special vehicle manufacturer" (refit factory, category "5") holds a production license for category "6" vehicles as well (SUV, MPV, van/bus).

Jimai New Energy Vehicle is shortly going to launch C01, a new LSEV hatchback, under the "Jemmell" brand. This will also be sold as "Shizizuo" (meaning Leo) under the Jinpeng brand.

Jimai New Energy Vehicle is 70% owned by Lu Shouguang, who also holds 85% of prominent LSEV-maker Jiangsu Jinpeng Vehicle Industry Co., Ltd.

Source: Corporate profiles; MIIT.
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