China FAW Group’s Hongqi brand is rapidly expanding its presence in the new energy vehicle (NEV) market. Three new electric models, based on its newly developed platforms, are poised for launch.

Established in 1953, FAW is China’s first automaker, with brands including Hongqi, Jiefang, and Besturn, along with joint ventures with Volkswagen and Toyota. Hongqi, meaning “red flag,” is a prestigious brand known for its use in national celebrations.

The latest model, the Tiangong 08, is currently available for pre-order following its unveiling at the Guangzhou International Automobile Exhibition. Two additional models, a sedan and an SUV, are scheduled for release in 2025.

Liu Yigong, general manager of China FAW Group, stated that Hongqi has prioritized technological advancements and new production capabilities for its NEV sector.

The Tiangong 08 is the inaugural model in the Hongqi Tiangong series, built using Hongqi’s Tiangong platform for pure electric vehicles and the Jiuzhang platform for intelligent technology.

Since 2023, FAW Hongqi has significantly increased its NEV production, selling 270,000 units. This sector has driven growth and solidified Hongqi’s status as a national car brand.

The company plans to invest 120 billion yuan (approximately 16.6 billion USD) in NEV research and development over the next five years.

Regarding joint ventures, Audi commenced pre-mass production at its Audi FAW NEV project in January. This facility, the first of its kind in China for purely electric vehicles, represents a significant step in the Chinese NEV market.

This project, a collaboration with FAW Group, with an investment exceeding 35 billion yuan, began construction in June 2022. Three electric models designed for the Chinese market are expected to launch by the end of the year, becoming available from early 2025.

FAW’s overseas sales have also seen substantial growth. From January to August 2024, overseas sales reached a record 86,000 vehicles, a 71% year-on-year increase. Currently, FAW Hongqi’s international presence spans 28 countries and regions, including Europe, the Middle East, and Southeast Asia, with 128 global stores.

Source: China FAW Group Co., Ltd.

CONTACT: Contact person: Mr. Han, Tel: 86-10-63074558