Wanxiang Group

Wanxiang Group was founded in 1969, starting when Lu Guanqiu invested 4,000 yuan to establish an agricultural machinery repair factory on the banks of the Qiantang River. Today, the company has more than 30,000 employees. In 2012, it achieved revenue of 116.5 billion yuan, generated profits of 7.6 billion yuan, and earned US$2.6 billion in foreign exchange through exports.

　　The company's main business is the development and manufacturing of automotive components. It is listed among the 120 pilot enterprise groups of the State Council and the 520 key enterprises of the country. Domestically, it has established a manufacturing base of 6 square kilometers and has formed stable cooperative relationships with FAW, Dongfeng, SAIC, GAC, and others, with its leading products holding more than 60% of the market share. Internationally, it owns 22 companies and more than 40 factories in 10 countries including the United States, the United Kingdom, and Germany, with more than 10,000 overseas employees. It is a supporting partner of major international automakers such as General Motors, Volkswagen, Ford, and Chrysler, and its leading products hold a 12% market share. It is currently a specialized manufacturer with the most universal joint patents and the largest scale in the world. One out of every three cars manufactured in the United States uses components made by Wanxiang.

　　The company actively develops clean energy and has invested in and built a large-scale lithium-ion battery production base in China. Its products have been well received after being used at the Shanghai World Expo and the Guangzhou Asian Games. In recent years, it has cooperated with a number of U.S. clean energy companies possessing internationally advanced technologies, creating an advantage of domestic and international linkage in clean energy. At the same time, it has built multiple natural gas power plants and wind power generation bases, forming a development pattern in which components and clean energy advance together, domestic and international resources complement each other, and immediate and long-term goals are connected.

　　In addition, in active response to the call to give back to agriculture, it engages in seed industry research and development, distant-water fishing, and deep processing of marine products. In 2012, its agricultural industry achieved revenue of 7.5 billion yuan and profits and taxes of 1 billion yuan, helping 400,000 farmers become better off.