BAIC, founded in 1958, is headquartered in Beijing, China, and its head office, Beijing Automotive Group Co., Ltd. is ranked 162th in the Fortune 500. BAIC is one of the largest Government-owned automobile groups in China covering R&D and manufacturing of vehicles, parts, automobile service trade, comprehensive travel services, finance, and investment, etc.In 1958, Beijing Automotive Manufacturing Factory (BAMF) developed its first self-developed car, the Jinggangshan sedan, followed by the BJ212, China's first generation of light off-road vehicles, and the BJ130, China's first generation of light trucks. In 1983, the company launched a joint venture with American Motors Corporation (the parent company of the JEEP brand) and established the first vehicle manufacturing joint venture in China's automotive industry, that is, Beijing Jeep Corporation. It has also established the first vehicle manufacturing joint venture with Hyundai Korea after China acceded to WTO — Beijing Hyundai Auto Co., Ltd. and established Beijing Benz Automotive Co., Ltd. with Mercedes-Benz jointly.BAIC Group, now focusing on three primary businesses of vehicles, parts, and service trade, boasts its own private cars: ARCFOX, BEIJING, and BAIC ORV; independent commercial vehicles: BAIC Foton, BAIC Changhe; joint venture brands: Beijing Benz, Fujian Benz, Beijing Hyundai Motor, and Foton Daimler. BAIC products were sold to 110 countries and regions worldwide with cumulative sales exceeding 31 million units.