Company Overview of China FAW Group Corporation
China FAW Group Corporation manufactures and sells vehicles. Its products include passenger cars; light, medium, and heavy trucks; coach chassis; municipal transit and intercity, CNG urban, urban, and school buses; luxury tourist coaches; mini vehicles; engines; transmissions; axles; and components. The company serves customers in China and internationally. China FAW Group Corporation was formerly known as First Automotive Works. The company was founded in 1953 and is based in Changchun, China.
No. 3025, Dongfeng Street
Founded in 1953
Key Executives for China FAW Group Corporation
Chief Accountant, Vice President and Member of CPC Standing Committee
Vice President, Deputy General Manager and Member of CPC Standing Committee
Vice President and Member of CPC Standing Committee
Compensation as of Fiscal Year 2014.
China FAW Group Corporation Key Developments
Volkswagen Extends China FAW Group Corporation Joint Venture
Oct 11 14
Volkswagen extended its joint venture with China FAW Group Corporation by 25 years. By extending the joint venture from 2016 to 2041, VW and FAW will expand their research and development activities and step up work on fuel-saving technology. VW, which also has a joint venture with China's SAIC Motor Corporation Limited, last year, sold almost 3.3 million cars in China, its biggest market, about a third of its record global deliveries of 9.73 million. The contract extension with FAW was signed on the occasion of talks between German Chancellor Angela Merkel and Chinese Premier Li Keqiang in Berlin. The length of the extension appears customary. VW's second joint venture with SAIC was extended in 2002 by 28 years until 2030. BMW in June extended its partnership with Brilliance China Automotive Holdings until 2028.
FAW Group Launches Production of Oley EV in China
Jul 16 14
FAW Group has begun production of new Oley electric in Changchun, China on 15 July 2014. The Oley EV has a maximum speed of 140 km/h and will be priced at around CNY 219,800 before subsidies. The car is expected to go on sale later this year.
FAW Group Opens New South African Truck Plant
Jul 10 14
FAW Group is set to inaugurate a new truck manufacturing plant at the Coega Industrial Development Zone outside Port Elizabeth, South Africa. During the first phase, the ZAR 600 million (USD 56 million) plant will produce 5,000 heavy commercial vehicles at full capacity and create approximately 450 jobs, excluding those at the supplier base. The plant is yet another indication of how Chinese automakers are focused on expanding their footprint in Africa. Chery, Lifan, and Brilliance, among others, have all set up plants in Africa. The new plant, which was originally announced by FAW in March 2012, was expected to have been completed by the first quarter of 2014. The plant - FAW's second in Africa, following the one in Ethiopia that was opened in 2012 - provides the Chinese automaker with a much-needed manufacturing base in South Africa, which can be used to cater to commercial vehicle demand elsewhere in the continent.
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