Chinese car and commercial vehicle maker JAC Motors. The business is headquartered in Hefei, in China's Anhui Province. In 2021, the firm produced roughly 524,000 units total, of which 252,500 were cars and 271,800 were trucks. In December 2021, 16,800 BEVs were also sold.
Anhui Jianghuai Automobile Co., Ltd. was established in 1964 and was formerly known as Hefei Jianghuai Automobile Factory. In 2001, the business went public on the Shanghai Stock Exchange.
In the past, JAC has exclusively made commercial trucks under the Jianghu(undei) brand, but MPVs and SUVs started to debut in the 2000s. Even though the firm had received regulatory clearance to produce passenger cars by 2007, it was still referred to as a truck manufacturer. Early in the 2000s, JAC collaborated with Hyundai Motor Company in an effort to diversify its product portfolio before acquiring a passenger car license in 2007. [Reference required] It started producing Hyundai MPVs in 2003, however this production ceased in 2007. After the partnership was terminated, JAC continued to produce at least two vehicles using Hyundai technology: an MP [dead link] and an SUV. In 2004, Hyundai looked into creating a joint venture with the business.
As a result of the Chinese government's 2009 declaration that it backed industrial consolidation, observers theorized that JAC and Chery would merge given their shared Anhui province location. On the surface, such a combination would make sense: at the time, JAC was mostly focused on trucks, while Chery primarily produced passenger vehicles. JAC has since made it apparent that it is not interested in consolidating under the control of the bigger Chery, though. JAC has started to focus more on passenger vehicles, and a 2010 announcement of a new electric vehicle program may have been an attempt to thwart the anticipated merger—at least in part.
It was one of the ten most successful automakers in China in 2013, selling 458,500 units for a 2.5% market share and placing ninth. JAC's production of over 500,000 vehicles in 2011 saw it slide one position to ninth, while the company's production of roughly 445,000 vehicles in 2012 saw it fall another rung to tenth. As of 2009, the estimated annual manufacturing capacity was around 500,000 units.
To sell its automobiles to Italy, JAC and DR Automobiles signed a contract in 2016. Chinese-made JAC models will be updated by DR to meet European safety and anti-pollution standards before being marketed under the DR logo. The JAC Refine S3, now known as the DR4, is the first vehicle imported into Italy (or EVO 4)
In 2017, JAC Motors and Volkswagen Group announced a partnership to build electric vehicles for the Chinese market under the SEAT brand. The JAC-Volkswagen joint venture was formally established in April 2018; it now runs under the new Sol brand rather than SEAT. The first item is the SOL E20X car, an electric crossover created by rebadging the JAC iEV40 (also known as JAC Refine S2 EV) with a new front end from the SEAT style center in Spain.
In order to grow its participation in the JAC Volkswagen joint venture from the existing 50% to 75%, the Volkswagen Group files letters of intent with the Anhui Provincial Government and Volkswagen (China) Investment Co. Ltd. in 2020. A transition that also calls for financial support for JAG (JAC Group), the government-owned parent firm of JAC Motors. The parties' agreement calls for an investment of one billion euros, which should be completed by the end of the year, subject to the customary regulatory clearances. Additionally, Volkswagen would buy 50% of JAG (the parent company of JAC).