Guangzhou Automobile Group (GAC) is undergoing a major restructuring by merging its two bus manufacturing subsidiaries—formerly known as Guangzhou Isuzu Bus Co., Ltd. and Guangzhou Denway Bus Co., Ltd.—into a single entity called GAC Bus, which will be officially listed. This move follows the company’s earlier expansion into the truck sector through a joint venture with Hino Motors last year. The consolidation of its passenger car assets marks a key milestone in GAC's broader strategy to streamline operations within the commercial vehicle industry. This development is seen as a significant step forward for GAC, which has been actively strengthening its market position.
Importantly, this restructuring does not interfere with GAC’s ongoing listing plans. Since the beginning of the year, the company has been intensifying efforts to prepare for a public offering. At the Beijing Auto Show in April, GAC General Manager Zeng Qinghong confirmed that the listing plan remains on track for the year. Following this announcement, GAC became unusually quiet, leading many to believe it had entered a “quiet period†ahead of the IPO. Despite ongoing reports about potential partnerships and collaborations, the company has remained non-committal, fueling speculation about its next steps.
The high-profile listing of GAC Bus has drawn considerable attention. However, senior GAC officials have clarified that the group aims to list as a whole, with GAC Passenger Cars being incorporated into the listed assets. Although GAC Bus began its integration and reorganization at the end of last year, its financial performance and key indicators remain stable, ensuring no disruption to the overall listing process. Notably, these officials also mentioned that GAC currently enjoys strong profits and sufficient capital, so there is no urgent need to rush into an IPO.
In addition, GAC has paused its cooperation project with Hyundai Motor, which was initially planned to be carried out through Guangzhou Denway Bus. This pause, rather than a complete cancellation, was attributed to the stringent conditions proposed by Hyundai, which were even more demanding than those from Japanese partners. As a result, the collaboration has been put on hold. While the possibility of resuming negotiations exists, it depends on Hyundai relaxing its terms. If the project resumes, GAC Bus would take over the role previously held by Junwei and become the core asset for the joint venture.
Currently, GAC Bus continues to focus on its own brand portfolio. The three former brands—Yangcheng, Denway, and Isuzu—will now be rebranded under the "Guangzhou Automobile" umbrella. The company offers a wide range of buses, including city, road, and group buses ranging from 6 to 12 meters, with hybrid models also available. In the second half of the year, GAC Bus is set to launch a new hybrid bus tailored for Guangzhou’s urban transportation needs. This model features a LPG-gas-electric hybrid system, making it the first of its kind in China.
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