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For other uses, see Changfeng. Liebao CS6 GAC Changfeng Motors Co Ltd[1] (SSE: 600991) (Chinese: 长丰; Pinyin: Chángfēng) is a Chinese SUV manufacturer. A state-owned enterprise but also a public company, Changfeng solely produces SUVs and most sales have been to the Chinese state.[2] The company manufactures license-built Mitsubishi Pajeros, sold in China under the Mitsubishi brand[3] and Pajero variations that sell under the brand name Liebao,[4] which means leopard. Soon to be delisted, if regulators agree, it will emerge in June 2011 as an equally-owned joint venture between Guangzhou Auto and Mitsubishi.[1] Contents 1 History 1.1 State as primary customer 1.2 Mitsubishi 1.2.1 Upcoming Mitsubishi joint venture 1.3 Ownership 2 Export 3 Production bases 4 References History A Changfeng Liebao Feiteng CFA 6400 (a license-built Mitsubishi Pajero iO) Changfeng has its origins in No.7319 Factory,[5] which was a small repair facility for military equipment before becoming a factory in the 1970s.[6] Production of crosscountry vehicles (license built Beijing BJ2020s) began in 1988, and the company's name became 'Changfeng Auto Manufacturing' in 1996. The 1991 Mitsubishi Pajero has been built by Changfeng since 1995.[5] A series of small sedans are under development, and in May, 2009, Guangzhou Auto purchased 29% of the company to access these[7] (or—what is more likely—its SUV expertise[8]) and has plans to turn Changfeng into a joint venture with Mitsubishi Motors.[9] State as primary customer The company has manufactured primarily for Chinese state use. As of 2008 most sales, close to seventy percent,[2] were to police, military, and other government agencies.[10] Mitsubishi Since 1995, Changfeng has produced license-built Mitsubishi vehicles for both military and civilian use,[11] and this Japanese automaker holds a 15% stake in GAC Changfeng Motors Co Ltd as of 2010.[9] Upcoming Mitsubishi joint venture In early November 2010, Mitsubishi and Guangzhou Automobile Group signed a memorandum of understanding to set up a new equally owned joint venture by restructuring Changfeng.[12] Mitsubishi will increase its ownership to fifty percent and the new company should start work in June, 2011. Mitsubishi will help round out a portfolio of joint ventures with Japanese automakers for Guangzhou Automobile.[1] Ownership As of 2010, the majority of ownership in Changfeng was held by three stake-holders, two of which have close ties to the Chinese state. 29% of the company is owned by Guangzhou Automobile Industry Group,[9] 21.98% by Changfeng Group,[13] and 14.59% by Mitsubishi,[1] and remaining ownership held by unknown entities. Mitsubishi will soon increase its ownership to 50% as a part of changing Changfeng into a Sino-japanese joint venture.[1] As of May, 2010, an unnamed, state-run parent company (probably Changfeng Group, as its ownership decreased due to state-mandated cooperation with Guangzhou Automobile Industry Group)[citation needed] held 50.98% ownership.[8] Export While most sales are domestic,[citation needed] the company has exported to the Middle East and Africa.[14] Production bases Changfeng has production bases in Changsha, Yongzhou and Hengyang, Hunan province and in Huizhou, Guangdong province. References ^ a b c d e Lagging far behind, Mitsubishi looks to new joint partnership chinadaily.com.cn, 2010-11-15 ^ a b Changfeng Motors, Mitsubishi to expand cooperation hktdc.com, 15 Jan 2008 ^ Pajero Changfeng Official Site (Web Archive) ^ Guangzhou Auto Acquires Small SUV Maker Changfeng Motor chinabuses.com, 2009-05-31 ^ a b World of Cars 2006·2007. Warsaw, Poland: Media Connection Sp. z o.o.. 2006. p. 228.  ^ The Chinese are coming! Superexcellent! Changfeng is latest Chinese automaker with U.S. dreams motortrend.com, January 9, 2007 ^ "Guangzhou Auto buys 29% of Changfeng Auto". China Car Times. 2009-05-20. http://www.chinacartimes.com/2009/05/20/guangzhou-auto-buy-29-of-changfeng-auto/. Retrieved 2010-11-17.  ^ a b Yan, Fang, and Klamann, Edmund (Tue May 19, 2009 3:24am EDT). "UPDATE 1-Guangzhou Auto to buy into Changfeng Motor -source". Reuters.com. http://www.reuters.com/article/idUSSHA23850620090519. Retrieved 2010-12-21.  ^ a b c GAC to form Mitsubishi JV based on GAC Changfeng reuters.com, Sat Nov 6, 2010 1:32am EDT ^ Mitsubishi, Changfeng to form China auto JV chinadaily.com, 2008-01-15 ^ Mitsubishi Pajero to become a Changfeng Pajero? chinacartimes.com 25 JUNE 2009 ^ "Mitsubishi, GAC Sign Joint Venture MOU, to Build ASX Compact SUV". ChinaAutoWeb.com. http://chinaautoweb.com/2010/11/mitsubishi-gac-sign-joint-venture-asx-suv/.  ^ Lagging far behind, Mitsubishi looks to new joint partnership peopledaily.com.cn, November 15, 2010 ^ China SUV maker Changfeng plans U.S. debut reuters.com, Mon Jan 8, 2007 7:50pm EST v · d · eMotor vehicle manufacturers of the People's Republic of China Transport in the People's Republic of China · Economy of the People's Republic of China Anhui Ankai Automobile · Beijing Automobile Works · Beijing Automotive Industry Holding Corporation · Beijing-Benz DaimlerChrysler Automotive · Brilliance China Auto · BYD Auto · Chang'an Ford · Chang'an Ford Mazda Engine · Chang'an Motors · Chang'an Suzuki · Changfeng · Changhe · Chery Automobile · China National Heavy Duty Truck Group · Dadi Auto · Denway Motors · Dongfeng Automobile Company · Dongfeng Honda Automobile Company · Dongfeng Liuzhou Motor Company · Dongfeng Motor Company · Dongfeng Motor Corporation · Dongfeng Nissan-Diesel Company · Dongfeng Peugeot-Citroën Automobile · Dongfeng Yueda Kia Automobile Company · FAW Car Company · FAW Group · FAW Tianjin · FAW-Volkswagen · Foton (company) · Geely Automobile · Great Wall Motor · Guangqi Honda Automobile · Guangzhou Automobile Industry Group · Hafei · Hawtai Automobile · Heibao · Honda Automobile (China) Company · Jianghuai Automobile · Jiangling Motors · King Long · Liaoning Shuguang Automotive Group · Lifan · Nanjing Automobile (Group) Corporation · Polarsun Automobile · Roewe · SAIC-GM-Wuling Automobile · Shaanxi Automobile Group · Shake Ring Motorcycle · Shandong Huoyun · Shanghai Automotive Industry Corporation · Shanghai GM · Shanghai Maple Guorun Automobile · Shanghai Volkswagen Automotive · Shijiazhuang Shuanghuan Automobile Co · Sichuan FAW Toyota Motor · Sinotruk (Hong Kong) · Soueast Motors · Volkswagen Group China · Weichai Power · Zhengzhou Yutong Bus · Zhongtong Bus · Zxauto Category