One of China’s leading automakers, FAW Group, has announced an ambitious growth strategy for its Hongqi brand. The group aims to expand Hongqi’s sales and service network to 1,000 locations and operate in over 100 countries and regions within the next five years.
In a statement made on Wednesday, April 23, FAW revealed plans to establish five overseas regional headquarters in key markets including Europe, Southeast Asia, and Latin America. The plan also includes building low-carbon R&D centers, a supply chain network, and operational hubs. The goal is to surpass 200,000 vehicles in annual production capacity and create over 20,000 jobs.
Liu Changqing, Vice Chairman of the Hongqi Brand Operations Committee, stated:
“Our vision is to transform Hongqi into a globally recognized cultural icon of the East.”
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