January 21, 2022

Jiangling Acquires Changan Heavy Duty Truck in Early August


  

After Jiangling Motors announced last week that it would spend RMB 270 million to “catch up” with Changan Heavy Duty Truck, the consolidation plan, which is almost certainly driven by Ford, is accelerating. The reporter learned from the company's internal sources last week that Jiangling Motors' contract to acquire Chang'an Heavy Duty Truck will be held in early August.

Last Wednesday (July 18th), Jiangling Motors announced that the board of directors had decided to purchase China North Industries Group Corp. (hereinafter referred to as "the Corps Group") and China Changan Automobile Group Co., Ltd. The "Changan Automobile Group" refers to the 100% equity of Taiyuan Changan Heavy Truck Co., Ltd. (hereinafter referred to as "Changan Chongqi"). After the completion of the acquisition, Changan Heavy Duty Truck will become a wholly-owned subsidiary of Jiangling Motors and will manufacture and manufacture heavy trucks.


Jiangling Motors

Chang'an Heavy Duty Truck Co., Ltd. because Jiangling Motors issued the above "arrival" announcement, which is less than two weeks before Changan Heavy Duty Trucks was listed on the Chongqing Stock Exchange. Therefore, it is widely believed that this is actually Jiangling Motors' long-planned capital move. Since Jiangling Motors is a joint venture between Ford, Changan and Jiangling Group, Ford’s role in this acquisition is intriguing. Analysts said that the acquisition of Chang'an Heavy Duty Truck by a joint venture company has provided a springboard for Ford’s entry into domestic heavy trucks.

In an announcement released last week, Jiangling Motors said that the company, which will soon be acquired, may also introduce Ford vehicles and its affiliates' technologies and products in the future.

Public information shows that after several rounds of holdings, Ford has become the actual largest shareholder of Jiangling Motors, holding 30% of Jiangling Motors, which is in a relatively controlling position, and Jiangling Holdings, a joint venture company established by Changan Group and Jiangling Group. Although they collectively hold more than 41% of Jiangling Motors' shares, they share only 20% of Jiangling Motors shares. An insider of Changan Automobile confirmed in an interview with reporters that Jiangling is mainly used to bypass the government approval of (Ford) to avoid new joint venture projects.



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