In 1987, a young entrepreneur named Yuan Qinshan opened a repair shop in the city of Yuncheng, followed shortly by a motorcycle store, selling motorcycles he transported from Guangzhou. In the early 1990s, he founded the company Tongda Economic & Trade, and in 1997, he established Shanxi Tongda Group, which had by then become the largest motorcycle dealer in Shanxi Province.

In December 1999, Yuan Qinshan founded Guangzhou Dayang Motorcycle, which, with support from the Thai conglomerate Charoen Pokphand, began producing tricycles under the Dayang brand and motorcycles under the Dayun brand. In the early 2000s, the combined output of the Dayang and Dayun brands reached two million units. Meanwhile, Tongda Group invested in real estate, automotive and marine cargo transportation, and also created a large network of car dealerships.

In 2007, Shanxi Tongda Group founded Shanxi Dayun Automobile Manufacturing (Dayun Motor), a heavy truck manufacturer based in Yuncheng, and in 2008, it established motorcycle manufacturer Guangzhou Dayun Motorcycle, which operated assembly plants in Guangzhou and Luoyang. In 2009, Yuan Qinshan created the Dayun Group holding company, which included Shanxi Tongda Group (vehicle and motorcycle sales, real estate, and logistics), Guangzhou Dayun Motorcycle (motorcycle and tricycle manufacturing), and Shanxi Dayun Automobile Manufacturing (truck production).

Also in 2009, Dayun Group acquired Sichuan Yinhe Automobile Group, a light truck manufacturer based in Chengdu, which was soon renamed Chengdu Dayun Automobile Group (Dayun Light Truck). In 2010, Shanxi Dayun began sales of heavy trucks powered by Weichai Power engines. That same year, Chengdu Dayun built a new assembly plant in Shiyan. In 2015, the group’s enterprise began assembling a crossover based on the Jonway A380 model.

In 2016, Dayun Group signed an agreement to supply Mercedes engines for its trucks, and in 2017, Cummins engines. In December 2016, Dayun Automobile went public on the Shenzhen Stock Exchange and raised 5 billion yuan in its IPO. In 2018, Dayun Group ranked 426th among the 500 largest private industrial enterprises in China and was among the top seven private enterprises in Shanxi Province. In January 2020, the group began selling passenger electric vehicles.

In 2022, Dayun Group established a new passenger electric vehicle brand called Yuanhang (Rehigh).