Heibao Auto (黑豹汽车), officially known as Shandong HIPO Group Co., Ltd., is a Chinese automotive manufacturing company headquartered in Weihai. It specializes in the production of light-duty vehicles and electric vehicles.
A key subsidiary, Zhonghang Heibao Co., Ltd., is listed on the Shanghai Stock Exchange.
Production Capacity
Heibao Auto has a reported production capacity of 100,000 vehicles per year.
History
Early Formation
- June 1993: Shandong Black Panther Co., Ltd. (later renamed Dongan Black Panther Co., Ltd.) was established by Wendeng Agricultural Transport Vehicle Factory through targeted raising. It later became a publicly listed company on the Shanghai Stock Exchange.
Expansion and Acquisitions
- 2010: Dongan Black Panther acquired partial or full equity stakes in the following companies:
- Anhui Kaile Special Vehicle Co., Ltd.
- Liuzhou Chenglong Special Vehicle Co., Ltd.
- Shanghai Aviation Special Vehicle Co., Ltd.
- 2015: Beijing Automobile Manufacturing Co., Ltd., AVIC Black Panther Co., Ltd., and Weihai Ruihai Construction and Development Co., Ltd. jointly invested in the establishment of BAIC Black Panther (Weihai) Automobile Co., Ltd. The production plant of Black Panther was transferred from AVIC Black Panther to BAIC Black Panther.
Structural and Ownership Changes
- August 2016: AVIC Black Panther initiated a major asset restructuring project:
- Sold all business assets to Jincheng Group in cash.
- Issued shares to Aviation Industry Corporation of China (AVIC) and Huarong Company.
- Acquired 100% of the equity held by AVIC and Huarong in Shenyang Aircraft Group.
- 2017: AVIC Black Panther was rebranded as AVIC Shenyang Aircraft Co., Ltd., with the full integration of AVIC Shenyang Aircraft Industry (Group) Co., Ltd.
- September 29, 2020: A strategic equity delivery and debt restructuring agreement was signed in Nanjing. BAIC Black Panther became a wholly-owned subsidiary of Wendeng State Investment.
- November 10, 2020: Shandong Heavy Industry Group initiated a comprehensive acquisition and strategic reorganization of Black Panther Auto.
Products
Heibao Auto has focused on electric vehicles, including low-speed electric vehicles (LSVs) for both domestic and international markets.
Electric Vehicles
- EV 2002
- EV 2003 (LSV): Sold in the United States under the brand name ZAP Worldcar.
Conclusion
Heibao Auto has undergone significant restructuring, ownership changes, and expansions over the years. Originally a light-duty vehicle manufacturer, it has pivoted towards electric vehicle production while remaining under state-affiliated ownership. Its integration into larger industrial groups such as Shandong Heavy Industry Group has positioned it for future strategic development.
