According to FAW Group, the production and marketing of its new energy vehicles will be prioritized this year. Meanwhile, the Hongqi brand plans to sell 400,000 units, achieving a year-on-year increase of 100 percent.
Hongqi, meaning "red flag," is China's iconic sedan brand. Established in 1958, the brand has been used as the vehicle for parades during national celebrations. It registered a new sales record in 2020, with the number of vehicles manufactured and sold both exceeding 200,000 units.