80-478: SAIC Motor Corp., Ltd. (formerly Shanghai Automotive Industry Corporation ) is a Chinese state-owned automobile manufacturer headquartered in Anting , Shanghai . Founded in 1955, it is currently the largest of the " Big Four " state-owned car manufacturers of China ahead of FAW Group , Dongfeng Motor Corporation , and Changan Automobile , with sales of 5.02 million vehicles in 2023. The company traces its origins to
160-617: A 55%. The company is developing plans to use technology to gain competitivity on various market segments (especially electric) and enter less developed overseas markets with potential growth (such as Africa, Southeast Asia, South America, or the Middle East) to expand its sales base. In 2022, the company signed a knock-down kit (KD) assembly contract with the Saudi National Automotive Manufacturing Company. In January 2023, it signed another KD contract with NGT,
240-538: A 77-day-long sit in . In 2010, SAIC produced 3.58 million units, the largest output of any China-based automaker that year. In June 2010, Magneti Marelli and Shanghai Automobile Gear Works (SAGW) officially launched a new joint venture plant in the Jiading district near Shanghai, China. SAGW, the main Chinese manufacturer of transmissions for the automotive sector, is a subsidiary of SAIC Motor. In February 2011, SAIC unveiled
320-503: A Korean SUV-maker, Ssangyong, soured. In January 2009, after an additional US$ 45 million was provided to it by SAIC, SsangYong Motor Company was placed into receivership in Korea. Courts might have mandated SAIC reduce its ownership, and by 2010 a 51.33% share of the Korean company had become a 10% one. The 2009 Ssangyong failure also saw riot police quell protesting Ssangyong workers who staged
400-632: A bigger global market share by reducing price competition among SOEs abroad and increasing vertical integration. Overall, China's focus on SOEs during the Xi era have demonstrated a commitment to using SOEs to serve non-market objectives and increasing CCP control of SOEs while taking some limited steps towards market liberalization, such as increasing mixed (state and private) ownership of SOEs. Along with increased mergers, promotion of mixed ownership, and management of state capital have continued; results have been mixed. Transitioning solely state-owned enterprises to
480-517: A company from the United Arab Emirates. In March 2023, a third with Vietnamese Kim Long Motors. In March 2023, KG Mobility launched a bid to acquire receivership-bound Edison Motors. In May, it was selected as the preferred bidder. In June, it was reported that SsangYong would be relaunched in Europe under the name KGM, with the cars continuing to wear SsangYong's dragon wing logo on the front. It
560-483: A long period of time, without the major innovations and key core technologies achieved by state-owned enterprises, and without state-owned enterprises' long-term commitment to a large number of social responsibilities, there would be no economic independence and national security for China, no continuous improvement in people's lives, and no socialist China standing tall in the East of the world. Xi Jinping Thought also emphasizes
640-617: A luxury EV brand "IM" (dubbed "Zhiji Motor" in Chinese) jointly developed with Shanghai's Pudong New Area government and Alibaba on January 13, 2021. According to SAIC Motor, "IM" stands for Intelligence in Motion. MG Motor designs, develops and markets cars sold under the MG marque . Roewe was introduced by SAIC in 2006. It is sold in most export markets outside China under the MG Motor marque. Rising Auto
720-534: A major role in the development of Roewe products. However in June 2019, SAIC Motor closed the UK Technical Centre making over 300 engineers redundant in the process. State-owned enterprises of China A state-owned enterprise of China ( Chinese : 国有企业) is a legal entity that undertakes commercial activities on behalf of an owner government . As of 2017 , China has more SOEs than any other country, and
800-514: A mixed ownership was announced in 2013 at the 18th Central Committee of the Chinese Communist Party and re-affirmed by the 19th Party Congress . Following an August 2015 directive, SOEs' articles of association are required to specify the leading role of party organizations in their firms. The 2015 directive also increases the importance of party organizations within SOEs by requiring that
880-629: A new North American Operations Center in Birmingham, Michigan. The opening ceremony was attended by Rick Snyder , Governor of Michigan , Oakland County Executive L. Brooks Patterson, and senior executives from General Motors and SAIC Motor. The 30,000-square-foot, three-story facility will house nearly 100 staff and focus on sourcing components. SAIC has numerous production facilities in China, including sites in: Chongqing , Liuzhou , Qingdao , Shanghai , Shenyang , and Yantai . It also had an assembly plant in
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#1732858267659960-399: A new commercial vehicles marque, Maxus . In 2011, SAIC produced 3.97 million vehicles, the largest output of any China-based automaker that year. In 2012, SAIC retained its top spot among domestic rivals by producing around 3.5 million units. In 2023, SAIC received the equivalent of US$ 560 million in state subsidies . In July 2023, Audi and SAIC Group announced their partnership that
1040-564: A political governance system in China’s SOEs—a Party-dominated governance system characterized by Party leadership, state ownership, Party cadre management, Party participation in corporate decision-making, and intra-Party supervision. CCP branches within China's SOEs are the governing bodies which make important decisions and inculcate its ideology . When China's SOEs were first created, they served as instruments for carrying out national goals and providing social stability via
1120-479: A strategic partnership co-operation agreement with China's Chery Automobile. By April 2023, the controlling shareholder of KG Mobility was KG Mobility Holdings, a wholly owned subsidiary of KG ETS (a KG Group affiliate). In August 2023, KG Mobility Holdings was merged into KG ETS, making KG Mobility a direct subsidiary of the latter. KG ETS holds a 58.84% of KG Mobility and it cannot sell its stake to third parties until April 2026. The present main (assembly) site
1200-464: A technology partnership with Daimler-Benz . The deal was for SsangYong to develop a sport utility vehicle (SUV) with Mercedes-Benz technology. This was supposedly to allow SsangYong to gain footholds in new markets without having to build their own infrastructure (utilizing existing Mercedes-Benz networks) while giving Mercedes a competitor in the then-booming SUV market. This resulted in the Musso , which
1280-423: A wage freeze. In January 2009, after recording a $ 75.42 million loss, the company was put into receivership . This may have been due to the global economic crisis and shrinking demand. In response to management's plan to cut 2,600 jobs, a third of the workforce, workers at Ssangyong's main factory stopped work and barricaded themselves inside in protest. One elderly worker died from a cerebral hemorrhage within
1360-464: A year of Tivoli's launch, the company reported its first net profit in 9 years. In 2017, SsangYong sold 106,677 units in domestic sales and 37,008 units in exports, setting a record high in 14 years since 2003, when its annual domestic sales stood at 131,283 units. Out of this, the Tivoli alone contributed over 50,000 units of domestic sales for the company. Mahindra XUV300 , which was later launched in 2019
1440-485: Is a South Korean automobile manufacturer. It traces its origins back to Dong-A Motor, a manufacturer established in 1954. The company was named SsangYong Motor Company in 1988, following its acquisition in 1986 by the SsangYong Group , a chaebol . Since then, SsangYong Motor has been acquired successively by Daewoo Motors , Chinese manufacturer SAIC Motor , and Indian manufacturer Mahindra & Mahindra . In 2022,
1520-500: Is a brand specialized in producing passenger buses and trolleybuses . In 2021, SAIC announced an increase in its holdings of Nanjing Iveco (Naveco). SAIC's subsidiary, Nanjing Automobile Group holds a 50% stake, while SAIC itself holds 30.1%, and IVECO S.P.A. holds 19.9%. SAIC's ownership of Naveco has now risen to 80.1%, making the Italian brand a strategic investor. SAIC participates in cooperative efforts with foreign automakers that see
1600-494: Is also the largest shareholder of SAIC-GM-Wuling (SGMW), a joint venture selling Wuling and Baojun branded vehicles. In 2021, SAIC self-owned brands contributes 52% of SAIC's sales. The company ranked 84th on the Fortune Global 500 list in 2023. Including SGMW, it was also the third-largest plug-in electric vehicle ( battery electric and plug-in hybrid ) company and second-largest battery electric vehicle manufacturer in
1680-533: Is built on Tivoli's platform, sharing many parts including several metal sheets. Mahindra also worked with its SsangYong subsidiary to introduce high performance electric vehicles in South Korea for mass-market sales. Mahindra and SsangYong increased their collaboration on engines and electric cars. On 21 December 2020, SsangYong Motor filed for receivership after Mahindra cut funding to SsangYong due to its outstanding debt. Ssang Yong Motor spokesperson stated that
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#17328582676591760-455: Is known as a trademark troll . This refers to the registration of brand names without the intention of actually using them, but only in order to exploit the rights and collect the corresponding payments. KG Mobility appealed against this decision and said it would continue to use the KGM name in overseas markets until further notice. In June 2024, however, The Korea Times reported that KG Mobility
1840-473: Is located in Pyeongtaek's Chilgoe neighbourhood and was built in 1979. The whole site (including surrounding land) covers 850,000 m (9,100,000 sq ft ) and also includes the aforementioned headquarters and research and development buildings. In 2021, the company started the review process to move the factory elsewhere. In September 2023, it said it plans to sell the present site's land to finance
1920-619: Is thought that the first KGM car in Europe will be a facelifted version of the SsangYong Tivoli, with their range of SUVs being rebranded soon after. In April 2023, KG Mobility launched KG S&C, a vehicle parts and conversion division. In November 2023, it was announced that the Korean Intellectual Property Office (KIPO) had rejected the application to register the brand name because it had already been registered in around 30 countries by Cihan Turan. This company
2000-478: The CCP committee secretary and the chair of the board must be the same person. According to Xi, "[T]he dominant role of state ownership cannot be changed, and the leading role of the state-economy cannot be changed." In Xi Jinping Thought , the historical importance of state-owned enterprises is highlighted: [W]ithout the important material foundation that state-owned enterprises have laid for China's development over
2080-625: The Kyron (transmission). In 1997, Daewoo Motors , now GM Korea , bought a controlling stake from the SsangYong Group, only to sell it off again in 2000, because the conglomerate ran into deep financial troubles. In late 2004, the Chinese automobile manufacturer SAIC took a 51% stake of SsangYong Motor Company. In July – August 2006, workers went on strike for 7 weeks to protest SAIC's plans to lay off 554 employees. The strike cost SsangYong 380 billion Won and negotiations ended with workers accepting
2160-543: The People's Liberation Army . They are expected "to work together with grassroots organizations to collect intelligence and information, dissolve and/or eliminate security concerns at the budding stage," according to the People's Liberation Army Daily . In 2024, the Chinese government announced SOE management would be assessed based on stock market performance. As of 2022 , SASAC oversees 97 centrally owned companies. These are
2240-532: The Wuling and Baojun brands. SGMW has recently found great success as an electric vehicle manufacturer — in 2021, the venture's Wuling Hongguang Mini EV city car was the best-selling electric car in China by volume. SAIC Hongyan was established in January 2003 as Chongqing Hongyan and traces its origins back to a Chinese manufacturer established in 1965. The company is focused on producing heavy trucks. SAIC Sunwin
2320-407: The iron rice bowl . Financial performance of SOEs was not a major concern until China's reform era. With the exception of a small number of national monopolies, SOEs compete in the market as privately enterprises do. State ownership does not prevent SOEs from seeking to make profits; rather they are incentivized to make profits to increase the value of the state's assets. SOEs have monopolies in
2400-681: The workforce . Ninety-one (91) of these SOEs belong to the 2020 Fortune Global 500 companies. Almost 867,000 enterprises have a degree of state ownership, according to Franklin Allen of Imperial College London . The role of the Chinese Communist Party (CCP) in SOEs has varied at different periods but has increased during the Xi Jinping administration , with the CCP formally taking a commanding role in all SOEs as of 2020. For example, Lai Xiaomin ,
2480-549: The 2000s, SAIC made several acquisitions in Korea. In 2002 it participated in GM's purchase of Korean automaker Daewoo, acquiring a 10% stake in the newly formed GM Daewoo company for US$ 59.7 million, and in 2004 it also assumed control of an ailing South Korean automaker, SsangYong Motor , paying US$ 500 million for 48.9% ownership of the company. Around this time SAIC created a new holding company for its subsidiaries employed in passenger car production, Shanghai Automotive Group. In
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2560-493: The Chinese government increasingly funded SOE consolidation, supplying massive subsidies and favoring SOEs from a regulatory standpoint. These efforts helped SOEs to crowd out foreign and domestic private sector competitors. As part of China Western Development program, China's five large state-owned hydropower companies planned, underwrote, and built the majority of dams on the river and its tributaries. Beginning in 2007, central government SOEs were required to provide to
2640-465: The Chinese interior where they would be more protected in event of foreign invasion. Beginning the late 1970s, SOEs became allowed to pay bonuses to workers. In 1984, the State Council issued a directive to expand the autonomy of SOEs. SOEs were also allowed to sell surplus goods on the market once they had met their quotas. Through the reform of "substituting taxes with profits" ( li gai shui )
2720-815: The EV platform from IM Motors will be introduced into Audi's electric models. In September 2023, the European Commission (EC) launched an anti-subsidy investigation into Chinese electric vehicle manufacturers, including SAIC which exported electric vehicles in high volume under the MG brand to the region. In June 2024, the EC completed its investigation and announced new tariffs for Chinese-built electric vehicles (on top of an existing 10 percent tariff for all foreign-made vehicles regardless of engine type), which went into effect on 4 July 2024. Electric vehicles made by SAIC Motor would be subjected to
2800-543: The MG Motor UK Longbridge plant as the first MG 6 to be produced in the United Kingdom came off the production line, but ended in 2016 when SAIC moved production to China. It retains a technical subsidiary SAIC Motor UK on site. On July 19, 2023, SAIC's Philippines subsidiary SAIC Motor Philippines, Inc. has appointed the new distributor and importer of MG vehicles and services in the country with launch of
2880-576: The Seoul Bankruptcy Court agreed to SsangYong's receivership exit plan, including issuing new shares in order to pay the creditors. The KG Group was set to start the process to exit SsangYong's receivership in early October and finish the acquisition process on (or before) 14 October, the SsangYong sale deadline. There also were plans to rename SsangYong. After delays, the consortium started the receivership exit procedures on 31 October by requesting
2960-486: The Seoul Bankruptcy Court opted for a consortium (KG Mobility) led by the KG Group as the final bidder to take over SsangYong Motor. The consortium planned to pay 900 billion won ($ 699.5 million) for SsangYong. In August 2022, South Korea's Free Trade Commission approved KG Group acquisition of a 61% majority stake in SsangYong through the consortium. The acquisition payments were completed later that month. In September 2022,
3040-589: The United Kingdom, the Longbridge plant . It also has a plant in Chonburi , Thailand, Cikarang , Indonesia, and Halol , India. SAIC operated a large research and development centre in the United Kingdom, the SAIC Motor UK Technical Centre , which as of 2012 employed around 275 engineers and 25 designers. The UK Technical Centre was the principal site worldwide for the development of MG cars, also playing
3120-578: The all-new 2024 MG4 EV and MG Marvel R for the local market by October 2023. Aside from importation, distribution, and aftersales operations, SMP’s functions also include the management of MG’s dealership network in the Philippines. This is currently composed of 42 authorized dealer locations and the addition of four more dealerships before the close of 2023, and a goal to have 60 MG dealerships running by 2025. In June 2012, SAIC's United States-based subsidiary Shanghai Automotive Industries Corp USA, Inc. opened
3200-639: The central SOEs which cover industries deemed most significant to the national economy. Companies directly supervised by SASAC have been reduced and consolidated through mergers according to the state-owned enterprise restructuring plan with the number of SASAC companies down from over 150 in 2008. Governments below the national level operate portfolios of SOEs which operate both domestically and abroad. Examples of regional or local SOEs include: As of 2019 SsangYong Motor Company The KG Mobility Corporation ( Korean : 케이지모빌리티 주식회사 , lit. ' KG Mobility Stock Company ' ), abbreviated as KGM ,
3280-587: The central government a portion of their capital income, stock dividends, property transfer income, enterprise liquidated income, and other state-owned capital income. SOEs were major beneficiaries of China's stimulus program following the Great Recession , which began a period where the private sector withdrew and the state-owned sector expanded. The pace of SOE mergers has increased under Xi. The goals of China's current SOE mergers include an effort to create larger and more competitive national champions with
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3360-523: The city more than doubled its contribution to the national output of automotive components. In 1987, the only local parts used in one car, the Volkswagen Santana , were tires, radio, and antenna, but by 1998 over 90% of the components used in its manufacture were locally sourced. A goal set by the Shanghai Municipal government, creation of a local parts industry is an example of the influence that
3440-575: The company and failing to live up to its promise of continued investment. SAIC denied allegations of technology theft by the company's employees. However, SAIC was charged by the South Korean prosecutor's office for violating company regulations and the South Korean law when it ordered and carried out the transfer of SsangYong's proprietary technology developed with South Korean government funding over to SAIC researchers. In 2010, Daewoo Motor Sales
3520-498: The company established itself as one of the leading Chinese automakers. During this period, SAIC effectively built an entire modern automotive component supply chain in Shanghai from scratch, and the number and quality of locally produced auto parts rose significantly. Cars that were previously assembled in China from knock-down kits provisioned by Volkswagen became products built from parts produced in Shanghai, and between 1990 and 1996
3600-645: The company owes a total of 315.3 billion won (US$ 285 million) in overdue debt to financial institutions. In October 2021, it was reported that SsangYong was set to be acquired by electric bus and truck maker Edison Motors which would lead to SsangYong exiting receivership. Edison Motors planned to introduce SsangYong vehicles into the United States, Mexico, and Canada markets by the mid-2020s. Edison Motors also intended to phase-out production and new car sales of fossil fuel-powered SsangYong vehicles by 2030, in favor of producing and selling only electric-powered vehicles by
3680-399: The company released a statement citing interest of three to four local and foreign companies in acquiring SsangYong Motor Company, resulting in shares rising by 15%. The companies were later revealed to be Mahindra & Mahindra , Ruia Group, SM Aluminum, Seoul Investments and French-owned Renault Samsung Motors of South Korea. In August 2010, Mahindra & Mahindra Limited was chosen as
3760-459: The company was acquired by South Korean chaebol KG Group and adopted its present name in March 2023. The company's main focus is sport utility vehicles (SUVs) and crossover SUVs , and it is transitioning its focus to electric cars . SsangYong originally started out as two separate companies; Ha Dong-hwan Motor Workshop (established in 1954) and Dongbang Motor Co (established in 1962). In mid-1963,
3840-558: The country due to Cihan Turan. Even in Korea, the trademark for KGM is also under KIPO’s review, following an objection filed in 2023 by KTM , an Austrian motorcycle manufacturer, which claims consumers are likely to be confused by the two similar acronyms. In August 2024, KG Mobility said it has established a sales subsidiary in Germany to strengthen its operations in the European market. In October 2024, KG Mobility announced that it has signed
3920-621: The early years of the Chinese automobile industry in the 1940s, and SAIC was one of the few carmakers in Mao's China , making the Shanghai SH760 . Currently, it participates in the oldest surviving sino-foreign automotive joint venture with Volkswagen ( SAIC-Volkswagen ) since 1984, and in addition operates a joint venture with General Motors ( SAIC-GM ) since 1998. It also produces and sells passenger vehicles under its own branding, such as Roewe , MG , Maxus / LDV , Rising Auto , and IM Motors . It
4000-539: The first 12 days. The strikes grew violent after water, food, electricity, and medicine were withheld from the strikers and police surrounded the building. Strikers threw Molotov cocktails at police while police used electroshock weapons and allegedly dropped corrosive chemicals on the strikers. On 14 August 2009, worker strikes finished at the SsangYong factory and production commenced again after 77 days of disruption. Company employees and analysts have also blamed SAIC for stealing technology related to hybrid vehicles from
4080-532: The forefront of global seaport construction, and most new ports built by them are part of the Belt and Road Initiative . State-owned banks are important sources of funding for port construction. SOEs that compete in the market are largely owned by provincial or sub-provincial governments. A significant cluster of these SOEs are joint ventures with foreign companies in the automotive industry . In addition to their own operations, SOEs invest in private enterprises. From
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#17328582676594160-467: The formal establishment of Shanghai Volkswagen Automotive Co Ltd in March 1985 allowed it to produce competitive cars with foreign technology. Early success at SAIC were a result of guidance provided by local Shanghai authorities; at one time SAIC was simply an extension of the Shanghai Municipal government. For these two reasons and more, SAIC grew swiftly. In the 11 years leading to 1996, annual production capacity increased ten-fold to 300,000 units/year, and
4240-475: The former president of state-owned China Huarong Asset Management announced in 2015 that during the operation of China Huarong Asset Management, the embedded CCP committee will play a central role, and party members will play an exemplary role. As Jin et al. wrote in 2022, The overarching principle of SOE reform is to firmly implement the Party’s leadership and the modern enterprise system. This principle creates
4320-494: The government sought to give SOEs incentives to pursue profits, sought to reduce SOE dependence on the government, and sought to increase market competition. With the goal of boosting innovation and efficiency, more than half of China's largest SOEs had established technical development centers by 1993. The same year, the CCP issued its "Decision on Issues Related to the Establishment of a Socialist Market Economy System." In
4400-433: The government to use assets as collateral to issue debt or to sell shares to balance budgets. According to academic Wendy Leutert, China's SOEs, "...contribute to central and local governments revenues through dividends and taxes, support urban employment, keep key input prices low, channel capital towards targeted industries and technologies, support sub-national redistribution to poorer interior and western provinces, and aid
4480-461: The highest tariff of 38.1 percent. On 26 June, after receiving more information, the EU reduced the proposed tariffs from 38.1 percent to 37.6 percent for SAIC. The tariffs subjected to SAIC vehicles are the highest among Chinese electric vehicle manufacturers that are affected. SAIC released a statement condemning the decision, noting that the tariffs are a form of unfair market discrimination that went against
4560-551: The industries of telecommunications , military equipment, railroads , tobacco, petroleum , and electric power . SOEs have a primary role in China's energy sector . Its five large state-owned power generation companies are: Datang , Guodian , Huadian , Huaneng , and China Power Investment Corporation . Its state-owned grid companies are State Grid Corporation of China (SGCC) and China Southern Power Grid Corporation . Most Chinese universities are SOEs. China's SOEs are at
4640-656: The latter, if acquired. In January 2022, the South Korean courts "approved" Edison Motors' acquisition plan, although the company would be kept in receivership until the transaction were completed. In March 2022, SsangYong said the Edison Motors takeover was cancelled as the latter failed making acquisition payments for that month. In December 2021, SsangYong signed an agreement with the Chinese BYD Auto to co-develop battery systems for its first electric car (called U100) which would be launched in 2023. In June 2022,
4720-513: The local government has had on the development of SAIC. In June 1997, SAIC formed a second major joint venture, Shanghai General Motors Co Ltd, with General Motors. The new joint venture began operations in 1998, and helped to drive a doubling in SAIC's vehicle production between 2000 and 2004. SAIC also created joint ventures with component suppliers, such as the American Visteon . At the start of
4800-585: The middle of the decade, SAIC attempted to acquire the British automaker MG Rover , but in 2005 was outbid by another Chinese automaker, Nanjing Automobile . SAIC did manage to obtain some MG Rover technology that was incorporated into a new line of luxury sedans sold under the Roewe marque, and it subsequently purchased the winning bidder. While the company saw sales success in the late 2000s, with 2.72 million vehicles sold in 2009, its 2004 purchase of an ownership stake in
4880-457: The most SOEs among large national companies. As of the end of 2019, China's SOEs represented 4.5% of the global economy and the total assets of all China's SOEs, including those operating in the financial sector, reached US$ 78.08 trillion. State-owned enterprises accounted for over 60% of China's market capitalization in 2019 and estimates suggest that they generated about 23-28% of China's GDP in 2017 and employ between 5% and 16% of
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#17328582676594960-406: The negative perception of the present name, bypassing its "painful image". The company adopted the name KG Mobility in March 2023. As the company was renamed, its financial affiliate, SY Auto Capital, was also renamed as KG Capital. In May 2023, KG Group's KG Inicis acquired the 49% KG Capital stake hold by KB Capital and 6% of KG Mobility's share, leaving the latter with a 45% and KG Inicis with
5040-494: The perspective of these private enterprises, this form of partial state ownership is helpful in obtaining financing from banks, particularly as prompts banks to require less collateral. Sometimes in investing in private enterprises, SOEs acquire enough shares to nationalize them. Over the period 2018–2020, 109 publicly traded enterprises with more than $ 100 billion in collective total assets were nationalized in this way. SOEs help stabilize public finance, including through allowing
5120-520: The preferred bidder for SsangYong. The acquisition was completed in February 2011 and cost Mahindra US$ 463.6 million. In 2015, SsangYong and KB Capital established a joint venture as the financial affiliate of the former, with the name SY Auto Capital. SsangYong had a 51% stake of the venture and KB Capital a 49%. That year, the company launched the Tivoli , its first car after Mahindra acquisition. Within
5200-463: The principles of free trade . In July 2024, SAIC Motor issued a statement stating that it would formally request the European Commission to hold a hearing on the anti-subsidy investigation. The company claimed that the European Commission's investigation asked SAIC to disclose its commercially sensitive information including battery-related chemical formulas, which SAIC declined as it is beyond
5280-794: The products of large international companies such as General Motors and Volkswagen made and sold in China. A joint venture between SAIC and Volkswagen Group . It was founded in 1984 and produces cars under the Volkswagen, Skoda, and Audi brands. This joint venture between SAIC and General Motors manufactures and sells Chevrolet , Buick , and Cadillac brand automobiles in Mainland China . SAIC produces MG Motors vehicles through this joint venture with Charoen Pokphand for their Thailand subsidiary. Established with Austrian technology provider TTTech in 2018 for Intelligent and Autonomous Driving solutions. On 13 April 2011, vehicle assembly resumed at
5360-440: The receivership termination to the Seoul Bankruptcy Court. The Court approved the receivership exit on 11 November, finalising the consortium's acquisition. In December 2022, SsangYong's chairman Kwak Jae-sun said it planned to remove the "SsangYong" name entirely in March 2023 by modifying the articles of association . The company was set to be renamed as "KG Mobility", adopting a new branding and using KG as its marque, to avoid
5440-517: The role of SOEs as part of the dominant position of state ownership necessary for common prosperity . In 2019, a CCP rule required SOE articles of association to require that major decisions must be discussed by the SOE's party committee before they are considered by management or by the board of directors. In 2023, multiple state-owned enterprises, including Shanghai Municipal Investment Group , established internal People's Armed Forces Departments run by
5520-637: The scope of a normal investigation. In November 2024, SAIC Motor Passenger Vehicle, the subsidiary of SAIC, announced to roll back the Rising Auto brand into Roewe, ending its history as an independent brand. Rising would turned into a premium electric product line under Roewe. The present-day SAIC is the product of numerous mergers and corporate restructurings. SAIC sells vehicles under a variety of brands . Brands that are considered "self-owned" by SAIC include IM , Maxus , MG , Rising Auto , Roewe , Baojun , Wuling , Hongyan , and Sunwin . SAIC launched
5600-546: The state's response to natural disasters, financial crises and social instability." Following the CCP victory in the Chinese Civil War , one of the party's early steps was to nationalize enterprises that the defeated Nationalists had controlled. During the Third Front campaign to develop heavy industry in China's interior regions, almost 400 state-owned enterprises were re-located from coastal cities to secret sites in
5680-454: The two companies merged into Ha Dong-hwan Motor Co. ( Korean : 하동환자동차공업주식회사 ). In 1964, Hadonghwan Motor Company started building jeeps for the US Army as well as trucks and buses . Beginning in 1976, Hadonghwan produced a variety of special purpose vehicles. After changing its name to Dong-A Motor ( Korean : 동아자동차공업주식회사 ) in 1977 and taking control of Keohwa in 1984, it
5760-496: The venture and retired the permission to use the Jeep trade mark. In 1983, Jeeps from Keohwa started to be named as "Korando". In 1984, Keohwa was acquired by the predecessor of SsangYong Motor, Dong-A Motor. After Dong-A Motor was taken over by SsangYong Business Group, Dong-A Motor's name was changed to SsangYong Motor in 1988. In 1987, it acquired United Kingdom-based specialty car maker Panther Westwinds . In 1991, SsangYong started
5840-432: The wave of reform thereafter, one goal was to separate SOE management from government and to empower a select group of SOEs with special property rights and autonomy. Consistent with CCP general secretary Jiang Zemin and Premier Zhu Rongji 's strategy of grasping the large, letting go of the small , major SOE reform occurred in 1997, which represented a change from the previously incremental reform efforts. The state
5920-538: The world, with 10.5% and 13% global market share respectively in 2021. Although it has a long history, originating from an automobile assembly factory established in Shanghai sometime around World War II, SAIC, unlike domestic rivals FAW Group and Dongfeng Motors , has only recently attained a position of prominence in the Chinese vehicle industry. A small company in the 1970s, SAIC owes its rise to more than an increase in domestic demand for passenger vehicles. A cooperative agreement made with Volkswagen in 1984 followed by
6000-552: Was dropped by General Motors . The long-time dealership partner then signed a deal with the SsangYong Motor Company to supply new vehicles to sell (specifically the Rodius , Chairman W and Chairman H ), in return for the injection of ₩ 20,000,000,000 ($ 17.6 million) into the car maker still recovering from bankruptcy. The deal is non-exclusive, meaning SsangYong will also sell vehicles through private dealers. In April 2010,
6080-501: Was encouraged to preserve large SOEs and to allow weaker ones to be "let go" through closing or consolidating. Other major policies that were part of the 1997 reforms included management and employee buyouts and the inclusion of foreign strategic partners. The general trend since 2000 has been for SOEs to increase in importance consistent with a broader resurgence of state activity in the market. SOE mergers have been routine since 2000. Beginning in 2003 with Hu Jintao 's administration,
6160-456: Was facing difficulties in obtaining the trademark rights for the three-letter abbreviation "KGM". The Turkish Patent and Trademark Office even refused the registration of KGM, because the Turkish government-run General Directorate of Highways , which is written as Karayollari Genel Mudurlugu in Turkish, had been already using the same acronym. The registration of KG Mobility had also been rejected in
6240-718: Was originally the "R Brand" in 2020, an offshoot of SAIC 's Roewe brand for electric vehicles. It was operated as an independent brand since 2021 but rolled back into Roewe in 2024. It is currently positioned as Roewe's premium product line. Maxus was formed in 2011 following the acquisition of LDV Group by SAIC in 2010, and produces MPVs, pickup trucks, and SUVs for both domestic sale and global export. A joint venture between SAIC, General Motors , and Guangxi Automobile Group (previously Wuling Group) Based in Liuzhou , Guangxi Zhuang Autonomous Region , in southwestern China , it makes commercial and consumer vehicles sold in China under
6320-690: Was sold first by Mercedes-Benz and later by SsangYong. SsangYong further benefited from this alliance, long after Daimler-Benz stopped selling the Musso, producing a badge engineered version of the Mercedes-Benz MB100 , the Istana and using Daimler designs in many other models, including the second-generation Korando (engine and transmission), the Rexton (transmission), the Chairman H (chassis and transmission) and
6400-480: Was taken over by SsangYong Business Group in 1986. Keohwa, Ltd. ( Korean : 주식회사 거화 ; RR : Jusighoesa Geohwa ) was a South Korean assembler of Jeeps under licence, mainly for export markets. Its predecessor was the Jeep assembly joint venture of Shinjin Motors and American Motor Corporation (AMC), established in 1974. It was spun off as an independent company in 1981, after AMC left
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