Chinese automaker FAW moves to new HQ, aiming for world-class car brand

Source: Xinhua| 2018-03-26 13:36:21|Editor: Liangyu
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CHANGCHUN, March 26 (Xinhua) -- FAW Group has moved to new headquarters in northeast China's Jilin Province, the group announced Monday.

The new HQ, close to the previous one, consists of 14 buildings, including offices, labs, and convention and logistics centers.

A total of 3,500 staff in 22 departments and new institutes such as the new-energy R&D institute have moved to the new location.

With the ambition of making the Hongqi (Red Flag) subsidiary into a world-class car brand, its first electric car will be released this year, with another 14 electric models before 2025.

The new models will be equipped with level 3 automated driving in 2019, level 4 in 2020 and level 5 in 2025. Hongqi has set sales targets of 100,000 units in 2020, 300,000 in 2025 and 500,000 in 2035.

Hongqi made its debut as a parade limousine at Tian'anmen Square during China's 10th National Day celebration in 1959. Since then, the Hongqi has long been prominent in parades at national celebrations.

Established in 1953 in the northeastern Chinese city of Changchun, FAW was the first carmaker in China. In addition to Hongqi, it has other brands including Jiefang and Besturn. It also has joint ventures with carmakers such as Volkswagen and Toyota.