CHANGCHUN, May 3 (Xinhua) -- China's leading automaker FAW Group said Friday that it saw a 111-percent year-on-year growth in auto sales under its Hongqi brand in the first four months of this year.
Despite the novel coronavirus outbreak, Hongqi sold more than 39,500 cars in the past four months as the company expanded its sales channels both online and offline.
Hongqi fulfilled its 2019 sales target of 100,000 cars and has doubled the target for 2020. The brand plans to roll out 21 new models, mostly electric or fuel-electric hybrids, in the next five years.
The iconic sedan brand announced last month that it will set up a joint venture with SILK EV LLC from the United States to manufacture its first super sports model.
SILK EV LLC will invest 10 billion yuan (about 1.42 billion U.S. dollars) in the next five years to build Hongqi S series products, aiming to make it a world-famous luxury sports car brand. The company, headquartered in New York, has wholly-owned research, development and production center in Modena, Italy.
The first Hongqi sedan was produced in 1958. For many years, Hongqi sedans have been used by senior officials and in important national events. Enditem
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