Beijing (ZXZC)- Chinese legacy automaker JAC Group recently established a wholly-owned subsidiary in Selangor, Malaysia, adding a new member to its international team. Notably, this marks JAC's sixth investment project and the fourth wholly-owned subsidiary overseas.

Signing ceremony; photo credit: JAC Group

Malaysia, as Southeast Asia's second-largest automotive market, boasts significant geographical and industrial advantages. Leveraging the Regional Comprehensive Economic Partnership (RCEP) agreement, this strategic move enables JAC Group to have a broader presence in the entire Southeast Asian market and implement a new operational model in the region.

As one of China's legacy automakers with a strong overseas presence, JAC has reached a pivotal stage in its international endeavors. Data indicates that in the first three quarters of 2023, JAC Group exported a total of 126,900 vehicles, reflecting a 58.88% year-on-year surge.

From exporting 36 light trucks to Bolivia in the early 1990s to establishing an international business division in 2006 and currently exporting to over 130 countries and regions with 19 overseas KD (Knock Down) plants and a network of over 1,000 overseas marketing service points, JAC Group exemplifies Chinese brands venturing abroad. 

Actively supporting the national "Going Global" strategy and the "Belt and Road" initiative, JAC Group has incrementally achieved global market coverage, transitioning from product exports to comprehensive output across technology, capital, management, and culture, injecting new vitality into Chinese brand automotive exports.

Presently, JAC Group has established joint ventures or wholly-owned subsidiaries in countries like Vietnam and Kenya, pioneering localized operations. The company has innovatively developed a replicable and scalable independent operating model overseas, nurturing a cadre of independent operators, and achieving significant performance and scale in target markets.