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Santa Clara, CA-based SF Motors, which is a subsidiary of Chongqing Sokon Industry Group, has entered an agreement to acquire the Commercial Assembly Plant of AM General in Mishawaka, Indiana (USA). SF Motors intends to produce unspecified electric vehicles at this plant when AM General's contract with Daimler AG expires. The commercial plant is currently making Mercedes-Benz R-Class vehicles and previously made the Mobility Ventures MV-1 van. About 17,200 R-Class were produced in 2016 (~7,200 in Jan-May 2017).

This purchase does not include AM General's Military Assembly Plant where the HMMWV tactical vehicles are produced. The Military Assembly Plant also supplies kits for the Humvee C-Series, which is an export-only civilian version of the HMMWV assembled by VLF Automotive of Auburn Hills, MI.

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SF Motors
 

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SF Motors

SF Motors was founded in Silicon Valley as a company focused on building electric vehicles. The company, which is a subsidiary of Chongqing Sokon Industry Group, has established several R&D facilities around the globe.
Parent company, Sokon Industry Group, was granted production permits from the Chinese government to produce electric vehicles. SF Motors recently completed the acquisition of the AM General Assembly Plant in Indiana, thus making it the only electric vehicle company to have manufacturing facilities in both the U.S. and China

Homepage:
http://www.sfmotors.com/company

Company has just unveiled their first two cars. SF5 is a medium-sized crossover SUV, and the SF7 is a full-size crossover.

https://www.engadget.com/2018/03/28/sf-motors-ev-announce/

SF5:
https://car.autohome.com.cn/pic/series/4752.html#pvareaid=2042212
http://price.pcauto.com.cn/cars/sg22824/







 

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Discussion Starter · #4 ·
Jinguo EV

Sokon introduced a new brand "Jinguo EV" (金菓EV), meaning "Golden Fruit", under which these vehicles will be made and sold in China.

https://www.autohome.com.cn/news/201807/920179.html

Chongqing Sokon Industry Group's subsidiary Chongqing Jinkang New Energy Automobile Co., Ltd. has already received EV project approval for their factory from NDRC (it was #8 among the 15); however, it has not yet been included in the MIIT Notice as a manufacturer which is a second condition that needs to be fulfilled (after that remains type-approval of the cars themselves).

The Jinkang project is situated on 229 Fusheng Avenue in Jiangbei District of Chongqing; this is also the site where Chongqing Ruichi Automobile Industry Co., Ltd., another Sokon subsidiary, is already producing Ruichi EC35 electric vans.
 

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Discussion Starter · #5 · (Edited)
Jinkang Ruichi EV (S513)

Chongqing Jinkang's new compact electric SUV revealed in MIIT's latest Notice. It will be built in Sokon's new plant in Yufu Industrial Park. The model name, as evident in the picture below, is Ruichi, the same as the brand name of Sokon's electric vans (EC35, EK05) that are produced on the adjacent site (in the same complex) in Jiangbei District, Chongqing.

Chongqing Jinkang has received a new production license (SKE) from NDRC. Chongqing Ruichi, however, has its own enterprise code (CRC).

The 4.4 m SUV is powered by a 120 kW motor.



http://data.miit.gov.cn/viewCar?carId=194231#
http://data.miit.gov.cn/viewCar?carId=193983#
 

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Re: SF Motors, Chongqing Jinkang

Chongqing Sokon Industry Group Co., Ltd., which owns 50% of the joint venture Dongfeng Sokon Automobile Co., Ltd. (DFSK), is acquiring the other 50% stake in the JV from Dongfeng Motor Group Corporation Ltd. (DFMC), which will make DFSK a wholly-owned subsidiary of Chongqing Sokon Industry Group Co., Ltd.

In return, DFMC will be offered a 26.01% shareholding in Chongqing Sokon Industry Group Co., Ltd., which is listed on the Shanghai Stock Exchange. Currently, 60.2% of Chongqing Sokon Industry Group Co., Ltd. is held by Chongqing Sokon Holdings Co., Ltd., a holding company of the Sokon Group. The Sokon group is controlled by Forbes-listed billionaire Zhang Xinghai of Chongqing's better-known Zhang family (not to be confused with the namesake Zhang family, also of Chongqing, that controls Yinxiang group).
Following the share swap, as described in the quoted post (you can follow it to the source thread), DFSK is no longer a joint venture. Instead Dongfeng Motor Group is a part owner of Sokon Industry Group, which perhaps explains the Dongfeng logo now on a car that was developed by Sokon without Dongfeng financial involvement (Chongqing Jinkang started as a pure Sokon enterprise, originally called Chongqing Dongkang). Chongqing Jinkang, Chongqing Ruichi and Dongfeng Xiaokang (DFSK) are all subsidiaries of Sokon Industry Group.
 

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Discussion Starter · #11 ·

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Re: SF Motors, Chongqing Jinkang

Chongqing Sokon Industry Group Co., Ltd., which owns 50% of the joint venture Dongfeng Sokon Automobile Co., Ltd. (DFSK), is acquiring the other 50% stake in the JV from Dongfeng Motor Group Corporation Ltd. (DFMC), which will make DFSK a wholly-owned subsidiary of Chongqing Sokon Industry Group Co., Ltd.

In return, DFMC will be offered a 26.01% shareholding in Chongqing Sokon Industry Group Co., Ltd., which is listed on the Shanghai Stock Exchange. Currently, 60.2% of Chongqing Sokon Industry Group Co., Ltd. is held by Chongqing Sokon Holdings Co., Ltd., a holding company of the Sokon Group. The Sokon group is controlled by Forbes-listed billionaire Zhang Xinghai of Chongqing's better-known Zhang family (not to be confused with the namesake Zhang family, also of Chongqing, that controls Yinxiang group).
Following the share swap, as described in the quoted post (you can follow it to the source thread), DFSK is no longer a joint venture. Instead Dongfeng Motor Group is a part owner of Sokon Industry Group, which perhaps explains the Dongfeng logo now on a car that was developed by Sokon without Dongfeng financial involvement (Chongqing Jinkang started as a pure Sokon enterprise, originally called Chongqing Dongkang). Chongqing Jinkang, Chongqing Ruichi and Dongfeng Xiaokang (DFSK) are all subsidiaries of Sokon Industry Group.
Sokon has temporarily suspended acquisition of the residual 50% of the shares of DFSK as laid out in the November 2018 plan, owing to adverse capital market conditions as well as the general slowdown in the auto industry. Sokon will approach the matter once again, with any suitable adjustments, when the market/economic environment is more favorable.

https://finance.sina.com.cn/roll/2019-07-25/doc-ihytcerm6253486.shtml
 

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Re: SF Motors, Chongqing Jinkang

Sokon has temporarily suspended acquisition of the residual 50% of the shares of DFSK as laid out in the November 2018 plan, owing to adverse capital market conditions as well as the general slowdown in the auto industry. Sokon will approach the matter once again, with any suitable adjustments, when the market/economic environment is more favorable.

https://finance.sina.com.cn/roll/2019-07-25/doc-ihytcerm6253486.shtml
A revised asset restructuring plan has been announced:
http://www.caam.org.cn/chn/8/cate_81/con_5226221.html
https://www.autohome.com.cn/news/201909/946153.html
 
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