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Chinese automaker FAW reports robust exports in Q1

Read: 1760Time: 06/04/2023

CHANGCHUN, April 5 (Xinhua) -- China's leading automaker FAW Group Co., Ltd. exported 15,000 complete vehicles in the first quarter of this year (Q1), up 125 percent year on year.

In 2022, the export value of the group subsidiaries, FAW Jiefang, FAW Benteng and its leading sedan brand Hongqi, registered a record high of over 6 billion yuan (about 872 million U.S. dollars), said Yang Dayong, chairman of China FAW Group Import and Export Co., Ltd.

The company has been accelerating the expansion of Hongqi in the overseas high-end auto market, and is planning to boost overseas sales of Hongqi to a level where it will account for over 10 percent of Hongqi's total sales by 2025 and 25 percent of Hongqi's total sales by 2030.

The state-owned FAW Group was founded in 1953 and is headquartered in the city of Changchun in the northeastern province of Jilin, which is known as the cradle of China's auto industry.