First Automobile Works

First Automobile Works

FAW Car Co., Ltd. (abbreviated as FAW Car, English name: FAWCar Co., Ltd.) is a wholly-owned subsidiary of China FAW Group. It is the first joint-stock listed company in China’s passenger car manufacturing industry, established with high-quality assets from China FAW Group that were primarily engaged in the production of Hongqi sedans and their components. Its main business is the development, manufacturing, and sales of passenger cars and their components. The company was registered and established in the Changchun High-Tech Industrial Development Zone on June 10, 1997, and was listed on the Shenzhen Stock Exchange on June 18 of the same year.

The company has 9 functional departments, 3 production plants, and 4 directly affiliated production workshops, along with one subsidiary—FAW Car Sales Co., Ltd. The company’s registered capital is RMB 1.6275 billion, with a total share capital of 1.6275 billion shares; it has over 7,300 employees; an annual production capacity of 60,000 vehicles; a land area of 708,740 square meters and a building area of 269,052 square meters; original value of fixed assets at RMB 2.33 billion and net value at RMB 1.42 billion; a total of 3,124 sets of equipment; by the end of June 2002, the company's total assets amounted to RMB 6.382 billion.

The company’s flagship products are the Hongqi series of sedans and their supplementary new models.

“Hongqi” is an in-house brand and trademark owned by FAW, born in 1958.

As an intangible asset of FAW, the brand value of “Hongqi” has been increasing year by year with the company’s performance since its establishment. By 2003, it had reached RMB 5.248 billion, ranking first among the most valuable brands in China’s passenger car manufacturing industry.

Facing the development of the new century and China’s accession to the WTO, FAW Car has been striving to enhance the technological level of its products and actively engaging in international cooperation. In 2002, it timely introduced Mazda’s new model, the MAZDA6, from Japan’s Mazda Motor Corporation.

The MAZDA6 sedan is the flagship model of Mazda’s “New Millennium Plan.” It was launched in Japan in May 2002 and in Europe in July of the same year. With its dynamic interior and exterior design, excellent handling, high safety standards, spacious interior space, and refined craftsmanship, it set a “new benchmark” for B-segment cars in the 21st century. Its platform technology is at the forefront of the world. The MAZDA6 is highly competitive, achieving great success in Japan and Europe, and has shown strong demand in the Chinese market.