Soueast Explained

South East (Fujian) Motor Co., Ltd.
(trading as Soueast)
Type:Subsidiary
Industry:Automotive
Foundation:1995
Location:Fuzhou, Fujian, China
Area Served:Worldwide
Key People:Zi-Sheng Zuo (President)[1]
Products:Automobiles
Owner:Chery (100%)
Module:
Child:yes
S:东南(福建)汽车工业有限公司
T:東南(福建)汽車工業有限公司
P:Dōngnán (Fújiàn) Qìchē Gōngyè Yǒuxiàn Gōngsī
Also Known As:Trading name
Order:st

South East (Fujian) Motor Co., Ltd., trading as Soueast, is a Chinese automobile manufacturer based in Fuzhou, Fujian, a subsidiary of Chery. It conducts production and sale of passenger vehicle under the Soueast marque.[2]

It used to manufactures Mitsubishi brand passenger cars for sale in mainland China, a joint venture between China Motor Corporation (25%), Fujian Motor Industry Group (50%) and Mitsubishi Motors (25%) before it was acquired by Chery.[3] [4] [5] [6]

History

Soueast was founded in November 1995 as a joint venture between China Motor Corporation and Fujian Motor Industry Group.[7] Mitsubishi became a partner in the joint venture in 2006.[8]

In April 2008, Soueast was awarded a contract to supply 5,700 Delica minibuses to the Iranian Mehreghan Co.[9] [10] In the same year, Jackie Chan was signed on as a Mitsubishi brand ambassador for Mainland China markets.[11]

As of early 2011, Soueast had an annual production capacity of around 180,000 units, but this was set to rise to 300,000 with the completion of current construction,[12] which may have been finished by early 2012.[13]

Although the competition is fierce, the niche has advantages in the market segment, which has earned it a certain degree of praise among buyers who focus on controllability. It once exceeded 100,000 units.

In May 2021, Mitsubishi announced its withdrawal from Southeast Motor, ending 26 years cooperation.[14]

The company was acquired by Chery in 2024 and is currently producing Jetour vehicles.[15] [16]

Products

Currently available

Discontinued:

Mitsubishi-badged

See main article: articles and Mitsubishi Motors. Soueast produces the following models under the Mitsubishi marque:

Dodge marque

See main article: articles and Dodge.

Operations

Soueast has at least one production base in Qingkou city, Minhou County, Fuzhou, Fujian province.[7] This location has probably been expanded three times[12] with the second phase possibly completed as that year saw a 150% increase in units produced.[17] As of early 2011, total yearly production capacity for all sites was forecast to soon reach 300,000 with the completion of the base's third phase.[12] February 2012 production was 37% higher than that of the previous year,[18] which may reflect this additional capacity coming online.

Sales

A total of 96,553 Soueast brand passenger cars were sold in China in 2013, making it the 38th largest-selling car brand in the country in that year (and the 21st largest-selling Chinese brand).[19]

External links

Notes and References

  1. Web site: Company Overview of South East (Fujian) Motor Co., Ltd.. https://archive.today/20140104212330/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=5523163. dead. January 4, 2014. 4 January 2014. Bloomberg Businessweek.
  2. http://www.chinadaily.com.cn/bizchina/2008-01/04/content_6371996.htm Soueast Motor wins Iranian export deal
  3. http://www.chinadaily.com.cn/bizchina/2010-11/15/content_11550259.htm Lagging far behind, Mitsubishi looks to new joint partnership
  4. http://www.ylg.com.tw/E1.php?id=EA12 Affiliated Companies - China Motor Corporation
  5. http://www.mitsubishi-motors.com/corporate/ir/share/pdf/e/fact_2009_10.pdf Activities by Region, Asia, 2009
  6. http://www.ylg.com.tw/E1.php?id=EA14 Affiliated Companies - South East (Fujian) Motor Co., Ltd.
  7. http://www.soueast-motor.com/en/history.htm About Us - History
  8. http://www.mitsubishi-motors.com/pressrelease/corporate/detail1443.html Mitsubishi Motors to invest in South East (Fujian) Motor Co., Ltd. of China
  9. http://www.chinacartimes.com/2010/12/06/1-6-mitsubishi-asx-flying-into-china-soon/ 1.6 Mitsubishi ASX flying into China soon
  10. News: Soueast Motor wins Iranian export deal. 4 January 2014. China Daily. 1 January 2008. 5 January 2014. https://web.archive.org/web/20140105021341/http://fuzhou.chinadaily.com.cn/2008-01/04/content_9598505.htm. dead.
  11. http://english.people.com.cn/90001/90778/90857/90862/6380110.html Business in brief - Mar. 25
  12. News: CHINA'S SOUEST MOTORS TO BEGIN THIRD-PHASE PLANT AFTER FESTIVAL . Asia Pulse . Rhodes . Jan 25, 2011 .
  13. Production capacity figures may consider engines and vehicles as discrete.
  14. Web site: 存档副本 . 27 May 2021 . 2023-07-27 . 2023-07-27 . https://web.archive.org/web/20230727022047/https://tw.stock.yahoo.com/news/%E6%B1%BD%E8%BB%8A%E8%82%A1-%E4%B8%89%E8%8F%B1%E9%80%80%E5%87%BA%E6%9D%B1%E5%8D%97%E8%BB%8A-%E4%B8%AD%E8%8F%AF%E8%BB%8A%E6%AD%A3%E9%9D%A2%E7%9C%8B%E5%BE%85-002613009.html . live .
  15. Web site: sina_mobile . 2024-03-10 . 奇瑞汽车完成收购东南汽车 . 2024-03-11 . finance.sina.cn.
  16. Web site: 奇瑞"吞掉"东南汽车 . 2024-03-11 . auto.gasgoo.com.
  17. Activities by Region: Asia, ASEAN and other regions . Mitsubishi Motors . 2010 . June 28, 2012 . 2 (18) . dead . https://web.archive.org/web/20121202040644/http://www.mitsubishi-motors.com/corporate/ir/share/pdf/e/fact_2010_10.pdf . December 2, 2012 .
  18. News: Mitsubishi Motors announces production, sales and export figures for February 2012 . Mitsubishi Motors . March 29, 2012 . June 28, 2012.
  19. News: 2013 Passenger Vehicle Sales by Brand. 5 April 2014. China Auto Web. 15 January 2014.

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