BEIJING/SHANGHAI (Reuters) - China's FAW Group aims to double its annual sales of Chairman Mao Zedong's carmaker of choice, Hongqi, or Red Flag, to 200,000 units this year and grow them further to 1 million cars in the next decade, its chairman Xu Liuping said. Hongqi, launched in 1958 by the state-owned carmaker, will have 21 car models under its marque and 18 of them will be electrified by 2025, Xu said at an event held in China's Great Hall of People late on Wednesday. Hongqi, based in the
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Might your next (first?) electric vehicle purchase be transacted at Wal-Mart? It's not out of realm of possibility. Mexican company, GS Motors, is already selling 3 different models from China's First Auto Works (FAW) at a so-called "big box" retail chain in Mexico and has plans to replicate the strategy north of their border. Company CEO Kathleen Ligocki says, "I th
FAW, a Chinese automaker that builds and sells the Prius in China, may release a hybrid Besturn sedan (Bentung is based on the Mazda 6) at a cost of 250,000rmb (33,532.75 US dollars). Recently, we told you about Lascelles Linton
China has come on quickly in the automotive world. Long known as a nation of bike riders, it now represents the third largest manufacturer and second largest market for cars in the world. As People's Daily Online points out, in just five years since joining the WTO, sales of Chinese made vehicles have almost doubled, and sales of sedans have more than quadrupled.
China's FAW just debuted the Red Flagship in its Hongqi (Red Flag) lineup. Rejuvenating one of China's oldest upscale car names, the new HQ3 sedan is Red Flag's take on the Toyota Crown Majesta. The Hongqi brand was generally FAW's outlet for their large luxury cars, which were intended for only the elite. Most Hongqi models were based on older Audi designs, so this Toyota based HQ3 will be a huge improvement. Further encouraging news is the fact that FAW has partnerships with not only Toyota, b
It's a well-known fact that foreign automakers desiring to crack the Chinese market are required by the government to buddy up with a Chinese domestic automaker. First Automotive Works Group (FAW) is in bed with not only Volkswagen and Toyota, but Ford's Japanese affilitate, as well, with which it produces the Mazda6 for the Chinese market. At last week's Hangszhou Auto Show FAW introduced the Mazda6-based Benteng midsize sedan that will take on the Accord and Camry in China with a pair of 2.0L