FAW Hongqi plans to increase production by 200,000 units

As the sales volume of Hongqi brand increases, the demand for production capacity is becoming more and more urgent. IIA learned from the Jilin Provincial Department of Ecology and Environment that Hongqi currently has a production capacity of 150,000 vehicles per year. In order to meet the FAW Group's overall plan, it is planned to increase Hongqi's overall production capacity to 200,000 vehicles per year to meet the increasing market sales demand.

According to the approval information, the total investment of this capacity-up project is 930 million yuan, to maintain the original production status of the stamping workshop, and only the welding of the second plant of the FAW Car Co., Ltd. Weishan base, and the existing production line of the second plant are transformed. Hongqi H5, Hongqi HS5, and Hongqi EV add a total of 50,000 vehicles per year, and the specific model output depends on market conditions.

Since the launch of the new Hongqi strategy in early 2018, the Hongqi brand has embarked on a path of rapid development. According to official data, the output and sales of Hongqi all exceeded 100,000 units in 2019. At the dealer meeting at the end of 2019, Hongqi announced that it would hit a sales target of 200,000 vehicles by 2020. The increase in the production capacity of the Hongqi brand will further accelerate the achievement of the annual production capacity target in advance.