Year 1969, the predecessor of Wanxiang Group was founded. Starting with the investment of 4,000 Yuan, the founder, Mr. LU Guanqiu, successfully created an agriculture machinery repair factory alongside the beautiful Qiantang River. Enjoying the annual growth rate of 25.89%, the factory has transformed into a modern multinational enterprise with more than one hundred billion Yuan’s revenue and over ten billion Yuan’s profit, also it has been selected by the State Council of China into the group of the 120 Pilot Enterprises, also it is the only automotive components manufacturing company among the 520 National Key Enterprises. Been honored as ‘The Evergreen Company’, Wanxiang Group is believed as a pioneer in the internationalization process of Chinese enterprises, and one of the 16 most competitive Chinese enterprises in the global market.
Representing one of the leading enterprises in the industry, Wanxiang Group has its main business in automotive components manufacturing and sales. Within China, the Group has 6 square kilometers manufacturing facilities in China, and established stable cooperation business relationships with China First Automotive Works Group, DongFeng Automobile Corporation, Shanghai Automotive Industry Corporation, and Guangzhou Automobile Group, etc. The main products now enjoy greater than 65% market share in the relevant industry. Internationally, Wanxiang Group owns as many as 30 overseas subsidiaries, more than 40 factories and over 16,000 employees in the United States, the Great Britain, German and other 10 countries. Established supporting partnerships with the mainstream automotive manufacturers such like, GM, Volkswagen, Ford, Chrysler, and so forth, Wanxiang Group’s main products has 12% of the market share in the international markets.
In 1999, Wanxiang Group began to set foot into the clean energy industry, totally invested several billion RMB on battery, electric vehicle, natural gas power generation, wind power generation industries. In recent years, Wanxiang Group cooperated with many American clean energy companies who possess advanced technologies. For instance, the Group worked with Shanghai Automotive Industry Corporation to manufacture new energy bus, formed important cooperative partnership with Karma Automotive and BMW. Now, Wanxiang Group is energetically preparing for a “Wanxiang Innovative Energy Fusion City” which will cover an area of 10 square kilometers. With the aim of becoming one internationalized, high-tech new energy enterprise, It is scheduled to invest more than 200 billion Yuan within the next decade to develop the production of new energy product components, battery, bus and passenger vehicles.
In addition, Wanxiang Group actively responses to the call of ‘nurturing agriculture’, and engages in the research and development of seed industry, ocean fishing, and deep processing of marine products. There are already 7 subsidiaries including 3 listed companies, and about 400,000 farmers benefit from them.
For nearly half a century, Wanxiang Group has adhered to keeping pace with the times, never ceased to excel ourselves. For the future, Wanxiang Group will keep advancing, and make unremitting endeavor to become a world respected historied enterprise.
Wanxiang believes a company should always focus on innovation and make regular self-adjustments. Wanxiang also believes a company should focus on social responsibility and make products for the betterment of all mankind. This is why Wanxiang invested tens of billions into clean energy industry since 1999. Through years of persistent research and development, Wanxiang’s clean energy business plan has become clearer and clearer: produce new energy automobile and build a clean energy city. Thus, Wanxiang is actively seeking cooperation with leading technology enterprises around the globe. Utilize global resources to compete in the global market and to build an international brand name. In the recent years, Wanxiang has formed joint venture company with SAIC in China to produce new energy buses. Wanxiang also developed important strategic business relationships between Karma Automotive and BMW Company. Karma Automotive plans to produce a series of pure electric and hybrid vehicles with top quality and cutting-edge technologies.
Over the next 5-7 years, Wanxiang Group plans to invest more than 200 billion RMB in building a 10 square kilometers’ Wanxiang Innovative Energy Fusion City (WXIEF CITY). The City will include four industry sectors: new energy automotive components sector, new energy automotive battery sector, new energy bus development and manufacturing sector, and new energy passenger vehicle development and manufacturing sector. The WXIEF City will also be an open platform for new energy technology innovation. Through strategic investment, we are trying to merge together industry, technology, and people. The WXIEF City will become the centerpiece which showcases the transformation of Wanxiang Group. The primary purpose is to make the WXIEV City the new model for green, intelligent, functional, and convenient modern city.
