FAW's New Chair Aims to Turn Hongqi Into China's Top Luxury Car Brand
Liao Shumin
DATE:  Sep 22 2017
/ SOURCE:  Yicai
FAW's New Chair Aims to Turn Hongqi Into China's Top Luxury Car Brand FAW's New Chair Aims to Turn Hongqi Into China's Top Luxury Car Brand

(Yicai Global) Sept. 22 -- Xu Liuping, the new chair of FAW Group Corp., the controlling shareholder of Chinese car maker Tianjin FAW Xiali Automobile Co. [SHE:000927], aims to transform Hongqi, meaning red flag in Chinese, into the country's best luxury automobile brand, online Chinese news outlet The Paper reported on Sept. 22.

FAW introduced the new Hongqi H7 luxury sedan model at a press conference in Beijing on Sept. 21.

FAW Group is adjusting the organizational structure at Hongqi so that its operations are directly handled at the firm's headquarters. The company's strategic management and public relations departments will also help in direct decision-making and offer quality resources to help with production, development and warranties.

"Of course, this is just the beginning," said Xu. "We will announce Hongqi's medium- and long-term development strategy by the end of the year."

Hongqi also delivered 100 sedans to Changzhou Transportation Group in eastern China's Jiangsu province on Sep. 16 and will provide life-long free repair services.

The company has also revealed famous Chinese actor Jin Dong as its first ever brand ambassador for the Hongqi, and set up a charity fund for poverty alleviation.

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Keywords:   China FAW Group Corporation,Xu Liuping,Hongqi