Nanjing Automobile

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Nanjing Automobile (Group) Corporation
南京汽车集团有限公司
Type Subsidiary
Industry Automotive
Founded1947 (Nanjing)
Headquarters
Nanjing
,
OwnerP.R. China
Parent SAIC Motor
Website nanqi.com.cn

Another joint venture was Nanjing Fiat, [16] established with Fiat in 1999. [17] This Italian automaker quit the company in 2007 [17] [24] citing a lack of investment on the part of its Chinese partner. [17]

As of 2006, it was producing four models: the Perla and Siena sedans, Palio, compact and Palio Weekend station wagon. [16] Most of Nanjing Fiat's design and tooling was taken over by Zotye in 2008. [25]

The company was located in the Jiangning District's Economic & Technological Development Zone in Nanjing. [26]

Internal divisions

As the company further developed its management, four complete production ecosystems were created.

Yuejin Light Truck Co

A major manufacturing base of Nanjing Auto, [27] it makes light-duty trucks under the Yuejin brand. The production of Isuzu-based SUVs and pickups was transferred to the Wuxi Soyat branch in 2005.[ citation needed ]

Sometime in 2007, Yuejin's truck-making business was merged with the Iveco-Nanjing Auto joint venture Naveco, [18] [21] which continued to sell under the Yuejin brand. [19]

Located in an economic development zone in Huishan District, Wuxi, (about 150 km east of Nanjing) the Wuxi Branch of Yuejin Automobile Co is a Nanjing Auto production base, and it may be the newest having been built sometime after 2003.[ citation needed ] Production of the Junda SUVs and pickups was taken over from Nanjing's Yuejin brand in 2005. By 2008, after SAIC's takeover of Nanjing, Wuxi Soyat production came to a halt. The factory is now used by SAIC to build the Maxus commercial van.[ citation needed ]

Brands

Car brands owned by Nanjing Auto include:

Sometime before the 1980s, Nanjing Auto was under the joint jurisdiction of both the central and local governments. [7] As of 2003, this vehicle manufacturer was owned by Yuejin Automobile Group of Jiangsu, which held just over fifty-per cent ownership of the company at this time, and two State firms created to dispose of non-performing bank loans, China Huarong Asset Management and China Cinda Asset Management. [27] Nanjing Auto is now a subsidiary of SAIC, having been merged with the much larger automaker in 2007. [29]

SAIC merger

A result of Chinese State policy to encourage mergers and acquisitions in the domestic automobile market, SAIC Motor and the state-owned parent company of Nanjing Auto, Yuejin Automotive Group, finalized a long-planned merger in December 2007. [29] Fitful merger negotiations between the two companies had begun in 2001, and the tie-up was widely anticipated. [27] Prior to the merger, but bidding alongside SAIC, [1] Nanjing Auto purchased the remaining assets of British group MG Rover for near US$100 million. [30]

See also

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References

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Nanjing Automobile
Simplified Chinese 南京汽车集团有限公司
Traditional Chinese 南京汽車集團有限公司
Literal meaningNanjing Automobile (Group) Corporation