 | |
| Company type | Subsidiary ofGuangzhou Automobile Group |
|---|---|
| Industry | Automotive |
| Founded | 1950; 75 years ago (1950) (Original establishment) 1996 (CMC establishment) 2009-12-30 (GAC Changfeng Motor Co., Ltd.) |
| Defunct | 2020; 5 years ago (2020) |
| Headquarters | Changsha, Hunan , |
Area served | China |
| Products | Automobiles |
| Changfeng Motor | |||||||
|---|---|---|---|---|---|---|---|
| Simplified Chinese | 广汽长丰汽车股份有限公司 | ||||||
| Traditional Chinese | 廣汽長豐汽車股份有限公司 | ||||||
| |||||||
GAC Changfeng Motor Co Ltd[1] is a Chinese automobile manufacturer wholly owned byGAC Group but which originated as a branch of thePeople's Liberation Army. Changfeng produced mainly light trucks, and as of 2008 the majority of their sales had been to the Chinese state.[citation needed]
The company has manufactured license builtMitsubishi Pajero copies sold in China under the Mitsubishi brand as well as Pajero variations that bear thebrand nameLièbào, which meanscheetah, the Lièbào name later transformed intoLeopaard.[2][3] They also offer two variations of Mitsubishi pickups: Fine, and Flying.[4] TheKylin 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, theqilin.[5] The Kylin was included in Changfeng's appearance at the Detroit Auto show in 2008.
Changfeng had its origins in No.7319 Factory,[6] which was a small repair facility for military equipment.[7] Production of SUVs (license builtBeijing 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 thePeople's Liberation Army (PLA).[8] The 1991Mitsubishi Pajero has been built by Changfeng since 1995.[6] The company has exclusively produced light trucks.[4]
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.[9]
Prior a minority shareholder with only 29% ownership,[10]GAC Group took control of Changfeng[11] in 2012 after a long run-up dating from 2009[12] that included promises to turn the company into ajoint venture with Mitsubishi.[10] Previously, 22% of the company was owned by Changfeng Group[13] and another 15% byMitsubishi.[12] These stakes were sold in 2011.[11] As a result of being acquired by GAC, the company was delisted from the Shanghai stock exchange on March 20, 2012.[citation needed]
During the acquisition process, Changfeng's Shanghai listed stockfluctuated wildly leading to its suspension from October 28, 2010, until sometime after March 17, 2011.[14]
As of July 2021, Hunan Leopaard Motors Co., Ltd. has declared bankruptcy.[15] 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.[16]
In late 2010, Mitsubishi andGuangzhou Automobile Group signed amemorandum of understanding to set up a new equally ownedjoint venture by restructuring Changfeng.[17] Although this would have required Mitsubishi to increase its ownership to fifty percent,[10] in 2011 Mitsubishi sold its entire stake in the company, instead.[11]
In 2011, it was reported that GAC would take control of Changfeng'sLièbào brand, which markets SUVs based on theMitsubishi Pajero built inChangsha andYongzhou. Production in Changsha was to be discontinued after the transfer to GAC.[18]
The representing main brand of Changfeng Motor is currently Leopaard, which mainly sells SUVs and crossovers. Available products are listed below.
_001.jpg)
The company premiered a concept car at the 2009Auto Shanghai, and a sedan, the CP2, was revealed at the 2011 Shanghai Autoshow.[21]
Since 1995, Changfeng has produced license-builtMitsubishi vehicles for both military and civilian use,[22] and until 2011, this Japanese automaker held 15% ownership of the company.[11]
Changfeng had assembly plants inYangzi,Anhui province, as well asChangsha andYongzhou,Hunan province; component factories inHengyang, Hunan, and inHuizhou,Guangdong province.[4]
While most of Changfeng's sales were domestic, since 2006 the company had also exported vehicles to Russia,[23] the Southeast Asia, Middle East, and Africa.[24] Such exports are most likely to be of a nominal nature.
It was reported that the company sold between 30,000 and 50,000 vehicles a year from 2009 to 2011.[25]
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,[26] were to police, military, and other government agencies.[23]
A subsidiary ofGuangzhou Automobile Industry Group | |||||
| Marques | |||||
| Subsidiaries | |||||
| Joint ventures and shareholdings |
| ||||
