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China Brands

Hongqi achieves high-quality growth with open cooperation

December 03, 2019


Abstract : Open development, innovation, and win-win cooperation are the three key points for Chinese automotive industry to achieve high-quality development, said Xu Liuping, chairman of China's automaker FAW Group, at the 2019 Boao Forum for Entrepreneurs on Monday.

Photo: Round table meeting at the 2019 Boao Forum for Entrepreneurs

BOAO, Hainan, Dec. 3 (Xinhua) -- Open development, innovation, and win-win cooperation are the three key points for Chinese automotive industry to achieve high-quality development, said Xu Liuping, chairman of China's automaker FAW Group, at the 2019 Boao Forum for Entrepreneurs on Monday. 

Based on the perception that convergence and synergy are the major trends in the global automotive industry, FAW Group's Hongqi has been following a development strategy highlighting open cooperation, and achieved fast growth in the past two years, which echoes well with Xu's point.

In September, 2017, FAW Group set off a wave of overall rejuvenation of its Hongqi brand, and gradually formed a new brand strategy which proposed to build a more international, professional and diversified team. With constant efforts, the group has now an excellent global R&D team of nearly 3,000 talents. It has built its global R&D headquarters in Northeast China's Changchun, with departments of car design, new energy, and intelligent connected vehicle (ICV), and also overseas institutes such as a design institute in Munich, and an artificial intelligence R&D institute in Silicon Valley.

Photo: Hongqi-branded vehicles presented at the 2019 Boao Forum for Entrepreneurs

Moreover, Hongqi has established a global supply chain system, with the introduction of 625 high-quality suppliers from around the world, and also attracted talents such as former Rolls-Royce director of design, Giles Taylor, worldwide.

Nowadays, it is necessary for auto companies to accelerate digitalization. In July 2018, Hongqi set up the Innovation Ecosystem Union, through which, the company has so far established 29 collaborative innovation laboratories with global tech giants such as Huawei, Alibaba, and Tencent. Following that, Hongqi’s parent company FAW Group has reached a strategic cooperation with JD.com, to jointly explore a full-chain digital automotive business model from production to sales this year in June, and has launched in July a technology platform called T3 Mobile Travel Services, which, built together with Dongfeng Motor, Changan Automobile, Suning, Tencent and Alibaba, marks a breakthrough for the technology innovation of China’s auto industry. (Edited by Li Wenxin, [email protected])

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Keyword: Boao Hongqi auto industry

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