FAW Group announced the start of construction of a new Research&Development center in the city of Changchun in northeast China. The new center will develop vehicles for new forms of energy and other innovative solutions. The total investment in the project will amount to 2.7 billion yuan (about us $380 million). This R&D center will provide a full cycle of R & d and testing of new models. Work on the establishment of the FAW is currently underway in 5 R&D centers around the world, including Germany and the United States.
Previously, FAW Group has signed a number of agreements on strategic cooperation in the field of R&D with companies such as Toyota Motor Corporation and Alibaba.
According to the agreement with Toyota, both companies will leverage their best practices for the development of hybrid, electric vehicles and vehicles with hydrogen fuel cells. Alibaba will participate in the creation of the global digital infrastructure of FAW Group, as well as in R & d projects, marketing, customer service, offering their data processing technology. Among the priorities – the development of a new generation of Intelligent-Connective Vehicle (ICV), research in the field of “intelligent logistics”, “Internet of things” blockchain.
According to the published in July 2019. ranking the world’s largest Fortune Global 500 companies – FAW Group ranked eighty-seventh place, improving its position year by 38 points! FAW – first automobile company established in the PRC, commenced operations in 1953, holds a leading position in the Chinese automotive industry. Sales of FAW more than 3 million vehicles per year. The company actively cooperates with such manufacturers as Volkswagen, Audi, Mazda, Toyota. The group is represented in 40 countries of the world, it owns 28 subsidiaries and 18 companies FAW owns a controlling stake.
In Ukraine, the FAW is the exclusive distributor of the AIS Group, which offers passenger cars and crossovers, medium and heavy trucks.