Type Public (TSEC: 2204) Headquarters Taipei, Taiwan Founded 13 June 1969 | Number of employees 3,407 Revenue 55.67 billion TWD Net income 5.398 billion TWD | |
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Industry Automobile manufacturer Area served Asia, Middle East, Africa, Europe, Central America Key people Vivian Shun-wen Wu (Chairperson)
Kenneth Yen (Vice Chairman)
Wen-Cheng Huang (President) Products Automobiles, recreational vehicles, light commercial vehicles, trucks Stock price 2204 (TPE) NT$ 28.25 -0.20 (-0.70%)3 Mar, 1:30 PM GMT+8 - Disclaimer | ||
China Motor Corporation (CMC; Chinese: 中華汽車工業; pinyin: Zhōnghuá Qìchē Gōngyè) is an automobile manufacturer based in Taipei, Taiwan.
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History
It was founded in June 1969, and signed a technology sharing contract with Mitsubishi Motors the following year. On December 12, 1973 they opened their first manufacturing facility, in Yangmei. Initially vehicle production was at a rate of 300 vehicles per month, but thanks to rapid growth, and the development of an advanced painting facility, the factory produced its 100,000th vehicle in 1983.
Originally they only produced commercial vehicles, but have since expanded operations, producing more than 100,000 vehicles per year. Currently they operate three manufacturing plants, two in Yangmei and one in Hsinchu.
The company has been listed on the Taiwan Stock Exchange since March 1991, and has repeatedly been recognized for its remarkable growth. In 1993 it was awarded the National Quality Award of Taiwan and were ranked first place in J.D. Power Asia-Pacific's Sales Satisfaction Index in 2000 and 2001. They have also been awarded numerous accolades for exemplary working conditions in their manufacturing plants.
Since 1995, CMC has invested heavily in China's South East Motor Corporation, and have poised themselves to take advantage of China's economic growth.
In 2005, the company was given approval from the Chinese government, and signed an agreement with DaimlerChrysler to produce minivans for the mainland market.
13.97 percent of the company is owned by Mitsubishi, and all of their models are revamped Mitsubishi designs, adjusted to appeal for the Taiwanese market except for Freeca and Veryca, which are entirely CMC designs and not based on Mitsubishi models.
Since June 2007, CMC is participated in the Fujian Daimler joint venture.