Wanxiang Group万向集团

Wanxiang Group makes automotive components such as universal joints, drive shafts, wheel-hub units and brakes, and invests in clean energy. Lu Guanqiu (1945-2017) and six other farmers set up a small agricultural machinery factory in July 1969, from which the group grew; its headquarters are in Xiaoshan District, Hangzhou. Its listed parts maker Wanxiang Qianchao (SZSE 000559) had revenue of 13.39 billion yuan in 2025. In 2013 Wanxiang bought most of the assets of the bankrupt US battery maker A123 Systems for 256.6 million dollars, and in 2014 it acquired Fisker Automotive, which became Karma Automotive.