GAC Honda announces acquisition of Honda China

Recently, GAC Group officially announced that its GAC Honda brand has officially acquired Honda China in full.

According to the official announcement, the board of directors of Guangzhou Automobile Group Co., Ltd. agreed to transfer the company's 25% stake in Honda Motor (China) Co., Ltd. through the open market, with the minimum transfer price being approximately RMB 231.593 million.

At the same time, the board of directors agreed to approve the company's joint venture Guangqi Honda Automobile Co., Ltd. to acquire 100% of the equity of Honda Motor (China) Co., Ltd. through open market transfer and agreement transfer, and carry out transformation and upgrading after obtaining approval from relevant departments.

At this point, the equity structure of Honda Motor (China) Co., Ltd. changed from Honda R&D Co., Ltd., Guangzhou Automobile Group Co., Ltd., Dongfeng Motor Group Co., Ltd., and Honda R&D (China) Investment Co., Ltd. holding 55%, 25%, 10%, and 10% respectively, to GAC Honda Automobile Co., Ltd. holding 100% of the shares.

In addition, official news shows that in 2017, GAC Honda's sales volume has reached 663,553 units, completing 95.7% of the annual target of 690,000 units.

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As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.