BUSINESS China's FAW Group reports robust vehicle exports in H1

BUSINESS

China's FAW Group reports robust vehicle exports in H1

Xinhua

20:15, July 15, 2021

File photo: CFP

CHANGCHUN, July 15 (Xinhua) -- China's leading automaker FAW Group Co., Ltd. exported 10,500 complete vehicles in the first half of this year (H1), up 130 percent year on year, said the company on Thursday.

The export volume of the company registered a yearly increase of 175 percent during the period, reaching 240 million U.S. dollars.

Among the exported products, the Hongqi-branded vehicles are favored by overseas markets. So far, FAW's high-end automobiles represented by Hongqi have been exported to countries including Russia, Saudi Arabia and South Africa.

FAW is expected to export a total of 23,500 vehicles this year, with an export value of 500 million U.S. dollars, up 102 percent year on year, said Yu Bin, deputy manager of China FAW Group Import and Export Co., Ltd.

Founded in 1953 and headquartered in the northeastern province of Jilin, the state-owned FAW Group is known as the cradle of China's auto industry.

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