Jiangnan Automobile

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Hunan Jiangnan Automobile Manufacturing Co., Ltd. (Chinese: 湖南江南汽车制造有限公司; pinyin: Húnán Jiāngnán Qìchē Zhìzào Yǒuxiàn Gōngsī), commonly known as Jiangnan Automobile (Chinese: 江南汽车; pinyin: Jiāngnán Qìchē) was a Chinese automobile manufacturing company established in 2001 and majority owned by Zotye from 2007 onwards, headquartered in Xiangtan. It went bankrupt and entered reorganisation in 2021.

History[]

The company was officially established in 2001 by the Jiangnan Machinery Group, a subsidiary of the state-owned enterprise Norinco.[1] Zotye acquired a stake in Jiangnan Automobile between 2006[2][unreliable source?] and 2007,[2][3] reorganising it in March 2007. Zotye took a 70% controlling stake[1][3] while the Jiangnan Machinery Group kept a minority 30%.[1] The aim of the Zotye acquisition was to get various production permits from the government.[2][4] The company's production, initially focused on assembling Suzuki Alto-based vehicles, was relaunched in April 2007,[2][3] later also adding Fiat-based models.[4] Jiangnan Automobile assembled mostly Zotye-badged cars such as the Jiangnan TT,[2] the Zotye Z100,[5] the Zotye Z300, the Zotye 5008, the M300, the Zotye Z200HB,[1] the Zotye Yun 100[6] and others.[1]

In November 2021, the company filed for "bankruptcy and reorganisation"[7] as part of a wider restructuring by parent Zotye in order to try stopping its own bankruptcy and liquidation.[8]

According to the Organisation Internationale des Constructeurs d'Automobiles, in 2012 Jiangnan Automobile was ranked as the 40th manufacturer of motor vehicles by number produced, with 117,051.[9]

References[]

  1. ^ a b c d e "湖南江南汽车" [Hunan Jiangnan Automobile]. shujubang.com (in Chinese). Retrieved 11 May 2019.
  2. ^ a b c d e "业绩持续下滑 众泰的拿来主义和自主研发都输了？" [The performance continued to decline. Zotye's take-up, independent research and development have been lost?]. sohu.com (in Chinese). Retrieved 11 May 2019.
  3. ^ a b c Chow, Namrite; Ciferri, Luca (11 July 2007). "Small Zotye to make Fiat cars". Automotive News China. Retrieved 12 May 2019.
  4. ^ a b Chow, Namrite (2 April 2008). "Zotye to produce Fiats under own brand". Automotive News China. Retrieved 12 May 2019.
  5. ^ "The Cheapest Car Gets a Makeover: Official Pics of Zotye Z100". ChinaAutoWeb. Retrieved 11 May 2019.
  6. ^ "湖南江南汽车制造有限公司召回部分众泰云100汽车" [Hunan Jiangnan Automobile Manufacturing Co., Ltd. recalled some Zotye Yun (Cloud) 100 cars]. sina.com (in Chinese). 3 September 2018. Retrieved 11 May 2019.
  7. ^ Zhang, Xuelian (5 November 2021). "众泰关联公司 江南汽车被申请破产重组" [Zotye's affiliated company Jiangnan Automobile has filed for bankruptcy and reorganisation]. autohome.com.cn (in Chinese). Retrieved 5 November 2021.
  8. ^ Jiang, Ninglu (27 October 2021). "众泰汽车发布重整计划草案 下属8家破产子公司纳入清偿范围" [Zotye released the draft for its reorganisation plan and included eight bankrupt subsidiaries in the scope of settlement]. finance.ce.cn (in Chinese). Retrieved 5 November 2021.
  9. ^ "WORLD MOTOR VEHICLE PRODUCTION OICA correspondents survey WORLD RANKING OF MANUFACTURERS Year 2012" (PDF). www.oica.net. International Organization of Motor Vehicle Manufacturers. Retrieved 4 August 2014.
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