FAW car to revive Red flag car investment 1.785 billion yuan to expand production

Carrying countless feelings of China's high-end independent brand car-Hongqi sedan, after more than 10 years of floating and sinking, and finally again embarked on the road to revival.　　FAW Sedan announced today that it will invest 1.785 billion yuan to expand the original plant, for the production of Red flag high-end independent brand sedan, after the completion of expansion, 2013 will reach an annual output of C131 new models of 30,000 production capacity. According to FAW Group Internal planning, code-named C131 is positioned as high-end C-class model of the red flag of the independent brand sedan.　　According to previous media exposure, the main power options for the model after delivery include 2.0T, 2.5L, 3.0L engine, positioning directly to the Audi A6, Mercedes-Benz E-Class high-end luxury car market.　　FAW Sedan believes that China's senior car market competition, joint-venture brand high-end models occupy the dominant position of the market, Red flag brand needs to use the brand's visibility to enhance the product in the terminal market appeal. August 1958, the 10 anniversary of the founding of the country, the central authorities to the FAW issued a domestic high-end car task. FAW's workers, based on a borrowed 1955 Chrysler premium sedan, have made a premium sedan by hand, based on improvements in China's national identity.　　When the Jilin Provincial party committee Hoxha Wu De formally named the sedan "Red flag." Since then, the "red Flag" sedan became the pride of the national automobile industry. But in recent more than 10 years, the market performance of Hongqi sedan is not ideal, even once very bleak.　　FAW Group for the Red Flag brand positioning is more than a few twists and starts, from the small red flag a hundred thousand of Yuan, to the top luxury models, have not been recognized by the market. According to the FAW Car 2007 financial statements, the establishment of the Red Flag Sales company loss amounted to 49.95 million yuan, 2008 the first quarter, the company continued to lose money. and positioning the business vehicle market Red Flag HQ3, since November 2006 on the market, has not been to the industry association reported a single month sales figures.　　At present, the red car has been in a semi-shutdown state, the market is almost entirely inventory.　　This April, the low-key FAW group general manager Claudia J. Xu announced a new brand strategy, the first clear red flag brand to promote the position of the FAW high-end brand, FAW will only have red flag and China FAW two brands. Claudia J. Xu announced that 2012 will have four fully independent research and development of the red Flag sedan listed.　　This shows that the revival of Hongqi sedan, has become a period of time in the FAW group to develop their own brand car important measures, and expanding production marks the revival of the red flag sedan into the real stage. From the capacity planning of 30,000 vehicles, FAW Group has relatively conservative judgment on the market space of its own brand.　　FAW said that the company will reasonably choose the market entry point of products, improve marketing methods, and actively carry out market cultivation and preheating activities, expand customer groups, improve the service network to ensure the realization of the expected goals. FAW also announced yesterday that it would invest nearly 700 million yuan in its own 4GC project. 4GC engine project is mainly for FAW car independent brand of the Senior sedan seriesModel matching, will eventually be completed with an annual output of 70000 engine production capacity.　　At the same time, FAW car also plans to invest 650 million yuan, the original stamping workshop to expand the transformation, increase the stamping equipment and ancillary equipment, so that the stamping workshop in 2014 to achieve an annual output of 560,000 large and medium-sized car stamping parts production capacity. Yesterday, the FAW car closed at 16.18 yuan, down 2.06%.