"China's first Beibei No.2 truck, the Beijing 130 light trucks, went bankrupt." Though the domestic auto industry faced fierce competition after the WTO, it was normal for companies to rise and fall. However, this news still left me feeling uneasy for a long time. My thoughts drifted back to my youth over ten years ago. How many dreams have been repeated? In the early 1990s, China National Automobile Industry Corporation commissioned the China Automotive Technology and Research Center to lead the compilation of the development history of the auto industry. The preparation of the history of the domestic light truck industry was led by the second-largest automobile manufacturer in Beijing, with collaboration from three other companies: Tianjin Automobile Manufacturing Plant, Nanjing Automobile Manufacturing Plant, and Shenyang Jinbei Automobile Manufacturing Plant. As a representative of the Tianjin Automobile Manufacturing Plant, I participated in the preparation of the history of the development of China's light vehicle industry for three years. We researched historical data and described the future development of the industry, traveling to more than 20 light truck enterprises across China. In July 1995, the book "History of the Development of China's Light Vehicle Industry" was officially published by the National Machinery Industry Press. Among the domestic light truck manufacturers, Beijing No. 2 Automobile Factory, Tianjin Automobile Manufacturing Plant, Nanjing Automobile Manufacturing Plant, and Shenyang Jinbei were known as the "Four Kings" in the industry. Looking back on this period is not only a commemoration of unforgettable history but also a demonstration of the wisdom and capability that China’s light truck industry has never lacked. China's light truck industry was the first to build brilliance.
The “Four Kings†once achieved a glorious history in the Chinese light goods vehicle industry.
1. Beijing No. 2 Automobile Factory
Originally the Beijing Diesel Vehicle Repair Sub-factory, founded in 1956. It produced the first mini-car in China in small batches in 1959-1960 and launched the Beijing 130 light truck in 1966. By 1968, it entered small-scale production. In 1975, the Beijing 130 passed the national endurance test and was recognized as a quality product, filling a gap in the market for 2-ton light trucks. It competed with over 20 automakers. In 1976, it became Beijing No. 2 Automobile Factory. In 1978, the Beijing 130 and its exhaust muffler won the National Science Conference Award. In 1985, it introduced Japan's Isuzu N series technology and produced the Beijing 136 (Beijing 1041). In 1988, it passed the national technical appraisal. To speed up technology introduction and product replacement, in April 1988, Beijing No. 2 Automobile Manufacturing Plant partnered with China International Trust & Investment Corporation and Hong Kong Xiaodike Automobile Company to establish Beijing Light Vehicle Co., Ltd., investing 140 million yuan, or 70% of the registered capital.
However, due to aging products, weak R&D capabilities, and outdated technology, Beibei struggled in the competitive market. With the development of the market economy, it failed to adjust its product structure and operating mechanism in time, leading to losses for over a decade. Currently, it has over 400 registered employees and 1,200 retirees. It has been idle for over three years, with employee expenses borne by Beiqi Holding. After an audit, as of the end of October this year, the total assets of Beierqi were only 85.49 million yuan, while total liabilities exceeded 140 million, giving an asset-liability ratio of 172.79%. It could no longer repay maturing debts and met the legal conditions for bankruptcy. On November 18, the Beijing No. 1 Intermediate People's Court announced the bankruptcy of Beijing No. 2 Automobile Manufacturing Plant, marking the official start of its bankruptcy proceedings.
2. Tianjin Automobile Factory
Founded in 1965 as the Tianjin Transportation Company Automobile Repairing Plant, it initially produced the TJ210 and TJ740. In 1978, it was renamed Tianjin Automobile Factory and became the cradle of the city's automotive industry. In 1978, it shifted its focus and launched light trucks based on Beijing 130 designs. It pioneered double-row seat light trucks suitable for major cities, creating a new market segment. During the "Seventh Five-Year Plan," it carried out technological upgrades, forming an annual production capacity of 30,000 units by 1988. During the "Eighth Five-Year Plan," it expanded to 70,000 units annually. In 1995, it formed a joint venture with the Malaysian Golden Lion Group, shifting its focus to microcars. In 2002, it was reorganized under FAW Group, changing its brand to FAW Jiaxing. Its urban jeep models gradually disappeared from the light truck market.
3. Nanjing Automobile Factory
With a long and glorious history, it originated as a repair shop of the East China Field Army in 1947. In 1958, it produced the NJ130 2.5-ton cargo truck and became the second-largest auto factory in China. In the 70s and 80s, Yuejin light trucks were highly competitive. In 1982, it established a joint venture involving 107 affiliated manufacturers and over 200 supporting plants. In 1986, it introduced Fiat Iveco S-series technology, one of the largest Sino-Italian projects with a total investment of 1.45 billion yuan. By the end of the "Eighth Five-Year Plan," it had an annual production capacity of 100,000 light trucks. However, due to pricing issues, the passenger version did not gain traction, while the bus version became popular. Over time, its market share declined, and the company struggled to maintain its position.
4. Shenyang Automobile Manufacturing Plant
Established in 1958 as the first auto plant in Liaoning Province, it initially produced the Dragon brand car modeled on the Soviet Muse 51. In 1973, it developed its own cab based on Beijing 130 drawings. In 1977, it launched the SY132 light truck, reaching an annual production of 3,000 by 1980. In 1983, it merged with the Shenyang Second Tractor Factory, doubling its production capacity. In 1986, it introduced Mitsubishi FC3 cab technology and produced the Jinbei brand light truck. In 1988, it became the best-selling model in the early 1990s. In 1988, it was converted into a share company and listed on the Shanghai Stock Exchange, becoming the first large-scale equity enterprise in China. However, after major changes, it lost its dominance and now struggles to maintain its position in the market.
Looking back at these four companies, they all had a glorious past. They were once local pillars and strong companies, but their resources were redirected toward passenger vehicles, leaving them weakened. Eventually, they fell behind and some even went bankrupt.
Today, the domestic light truck industry has transformed. The former leaders have lost their edge, and the market is now dominated by two new giants: Beijing Foton Motor Co., Ltd. and Anhui Jianghuai Automobile Co., Ltd. Together, they occupy half of the market and have ushered in a new era for the industry.
1. Beijing Foton Motor Co., Ltd.
Originally an agricultural vehicle factory in Zhucheng, Shandong, it entered the auto industry through effective restructuring. With a sound corporate governance system and a focus on innovation, it achieved rapid growth. In 2004, it reached the milestone of producing 1 million vehicles. Its light trucks ranked first in sales for six consecutive years. It became the top light truck brand in China and was listed among Fortune's Top 100 Companies. In 2005, it ranked among the Top 50 Most Valuable Chinese Brands. Its products continue to innovate, and it has become the largest commercial vehicle manufacturer in China.
2. Anhui Jianghuai Automobile Co., Ltd.
A rising star in the commercial vehicle market, JAC has gained recognition for its high-quality light trucks. In 2005, it won the "Best Commercial Vehicle (Logistics) of the Year" award. Its product line covers low-end to high-end models, with a strong export presence. JAC focuses on cost-effectiveness and customer satisfaction, achieving significant profit growth despite rising material costs. Its comprehensive service system and customer-centric approach have made it a leader in the market.
Foton and JAC have successfully navigated the competitive landscape, leveraging their resources and innovations to dominate the light truck industry today. Their success is no accident, but the result of smart strategies and relentless effort.
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