GAC Completes Commercial Vehicle Integration and Is Not in a hurry to Launch

Guangzhou Automobile Group will integrate its two bus manufacturers (formerly Guangzhou Isuzu Bus Co., Ltd. and former Guangzhou Denway Bus Co., Ltd.) into GAC Bus and formally be listed. Last year, GAC has completed its layout in the truck sector through a joint venture with Hino Motors. The integration of passenger car assets at this time indicates that GAC has completed its integration in the commercial vehicle segment. This is of great significance to GAC, which has been actively operating the market.
Does not affect the listing process

Since the beginning of this year, GAC has started to actively operate listings. Zeng Qinghong, general manager of GAC, stated at the Beijing auto show in April that “the listing plan will remain unchanged during the year.” Since then, the low-key GAC Group has become almost completely silent, which has been generally interpreted as having entered the "quiet period" before the listing. Even in the face of continuous reports of various types of joint ventures and cooperation, they never respond.

Therefore, the high-profile listing of GAC Bus attracted people's attention. As to whether the incident indicates that Guangzhou Automobile's listing has been delayed, senior GAC coaches disclosed to this reporter that GAC Group is listed as a whole and GAC passenger cars will be packaged into listed assets. However, since the end of last year, GAC Bus had started its integration and reorganization. Until now, the company's financial status and financial indicators have not changed, so it will not affect the listing process of GAC. However, this high-level official also stated that at present, GAC profits are high and are not short of money, so they may not be in a hurry to go public.

Pause with modern cooperation

The cooperation project between GAC Group and Hyundai Motor was confirmed to be stranded in the second half of last year. Since the cooperation between the two parties was to be achieved through the Guangzhou Denway Bus, the question of whether the Denway Bus was integrated into the GAC Bus or not means that the joint venture with the modernization has been completely stopped. The high-level coach of GAC emphasized that it is a pause, not a stop.

“The reason for the pause is that the conditions for the joint venture proposed by Hyundai Motor are too harsh,” the top official said, even higher than the Japanese company, which made it impossible for GAC to accept, so the cooperation between the two parties was stalled. Regarding the possibility of resuming negotiations in the future, this top executive stated that the possibility exists, but the premise is that Hyundai can relax the conditions for cooperation. In the future, once the project is restarted, GAC Bus will replace the original Junwei passenger car and become GAC's asset for modern joint ventures.

At present, GAC Bus still focuses on its own brands. The three branded passenger cars of the original Yangcheng, Denway and Isuzu brands will be changed to "Guangzhou Automobile" brand. At present, Guangzhou Automobile's products cover a variety of power city buses, road buses and group buses ranging from 6 to 12 meters, including hybrids. In the second half of the year, GAC Bus will launch a second-order hybrid bus. This model is based on the characteristics of urban public transportation in Guangzhou. The LPG gas-electric hybrid model adopted is the first in China.

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