Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Chinese auto manufacturer FAW Group’s premium car brand Hongqi produced 32,500 units in January 2021, registering a growth of 158pc from the same month in 2020, the company said in a statement.


In February, the company is expected to begin the sales of the Hongqi H9 full-sized sedan in Japan in late March, as per media reports. The model is already being exported to South Korea and the United Arab Emirates (UAE).


The company will launch an all-electric sedan called QM5 in the second half of 2021, expanding into the new energy vehicle (NEV) market.


In January 2020, the company had said that 21 new models would be launched in the next five years under its premium brand Hongqi, with annual sales expected to reach 700,000-800,000 units by 2025. Of which, 18 of the 21 new models would be new energy vehicles (NEVs).


Hongqi aims to achieve a sales target of 400,000 units in 2021. The company’s sales stood at 200,338 units in 2020. 

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