BEIJING — Chinese truckmaker Jianghuai Automobile seems intent on getting into the passenger-car business — so much so that it revealed four new concepts at the 2008 Beijing Auto Show.
Also known as JAC, the company is based in Hefei, the capital of Anhui province, not far from larger rival Chery Automobile. JAC until recently has made its reputation building trucks, vans and SUVs, including a version of the Hyundai Starex van.
In Beijing, JAC showed two new compacts, the A137 hatchback and the A138 sedan, both designed and engineered by Pininfarina. The cars appear to be production-ready, but JAC officials were coy about revealing specific plans for the market.
Elsewhere on the stand, JAC unveiled the B18 sedan and the larger Vision 3, a larger sedan with a Ford-like face, as well as an updated version of the midsize Binyue sedan that it began selling last year.
The state-owned company had been talking last year with Blackstone, the U.S. private-equity firm, about selling a minority stake, but Chinese media report those talks have ended. Instead, JAC plans to issue more than $200 million in bonds to help fund its planned expansion into the passenger-car business.
What this means to you: Yet another Chinese wanna-be with limited resources and state supervision — not a promising combination. — Paul Lienert, Correspondent
Also known as JAC, the company is based in Hefei, the capital of Anhui province, not far from larger rival Chery Automobile. JAC until recently has made its reputation building trucks, vans and SUVs, including a version of the Hyundai Starex van.
In Beijing, JAC showed two new compacts, the A137 hatchback and the A138 sedan, both designed and engineered by Pininfarina. The cars appear to be production-ready, but JAC officials were coy about revealing specific plans for the market.
Elsewhere on the stand, JAC unveiled the B18 sedan and the larger Vision 3, a larger sedan with a Ford-like face, as well as an updated version of the midsize Binyue sedan that it began selling last year.
The state-owned company had been talking last year with Blackstone, the U.S. private-equity firm, about selling a minority stake, but Chinese media report those talks have ended. Instead, JAC plans to issue more than $200 million in bonds to help fund its planned expansion into the passenger-car business.
What this means to you: Yet another Chinese wanna-be with limited resources and state supervision — not a promising combination. — Paul Lienert, Correspondent
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