Dongfeng Automobile Company


Dongfeng Automobile Co., Ltd. , is a Chinese automobile company based in Xiangyang, Hubei province. It is a subsidiary of Dongfeng Motor Co., Ltd. which is a joint venture of Dongfeng Motor Group and Nissan. DFG is majority owned by Dongfeng Motor Corporation, a Chinese state-owned enterprise.
It makes light commercial vehicles for the Chinese market. It also makes diesel engines in a 50-50 joint venture with Cummins, Inc. known as Dongfeng Cummins Engine Co. Ltd.
, DFAC is a constituent of small cap index SSE 380 Index.

History

The predecessors of Dongfeng Automobile Company, were a light commercial vehicles factory, an engine factory and a foundry of Dongfeng Motor Corporation, that were located in Xiangyang, Hubei province. Founded in Shiyan in 1969, the ultimate parent company Dongfeng Motor Corporation was headquartered in Wuhan, the provincial capital of Hubei since 2003. However, the headquarter of Dongfeng Automobile Company was remained at Xiangyang.
The first factory of Dongfeng Motor in Xiangyang was first built in 1983.
Dongfeng Automobile Company Limited was incorporated as a subsidiary of Dongfeng Motor Corporation on 21 July 1999, the date of receiving the license of incorporation, or 15 July, the date of the first annual general meeting. In the same year the rest of the shares were floated on the Shanghai Stock Exchange. The company also signed a leasing agreement with Dongfeng Motor Corporation, regarding the land lease and trademarks.
In 2001, the shares held by Dongfeng Motor Corporation were transferred to an intermediate parent company Dongfeng Motor Group, as part of a debt restructuring. In 2003, the shares were transferred again, to a Sino-Japanese joint venture Dongfeng Motor Co., Ltd..
In 2010, it was reported that the company started to built its electric bus assembly line.

Subsidiaries

;current
;former
DFAC acquired 51% stake of Zhengzhou Nissan Automobile in 2005 for from two other state-owned companies: CITIC Automobile and Zhengzhou Light Vehicle Works. DFAC also subscribed a capital increase of Zhengzhou Nissan, for in 2008. On 13 June 2017, DFAC announced to sell Zhengzhou Nissan to the direct parent company Dongfeng Motor Co., Ltd. for about, subject to the approval of extraordinary general meeting. It was approved on 28 June.

Joint ventures

Dongfeng Cummins Engine Co., Ltd., a joint venture of Cummins and Dongfeng in Xiangyang, was established in 1995. It manufactured heavy duty vehicle engines.

Shareholders

DFAC was majority owned by a joint venture Dongfeng Motor Co., Ltd., making DFAC was indirectly owned by the Chinese Government, the French State, H share shareholders of Dongfeng Motor Group and other shareholders of Nissan and Renault.
The Chinese Government also owned an additional 2.74% shares via their sovereign wealth fund Central Huijin as the second largest shareholder of Dongfeng Automobile Company.

Footnotes