December 28, 2014 5:38 PM ET

Automobiles

Company Overview of China FAW Group Corporation

Company Overview

China FAW Group Corporation, a state owned enterprise, develops and manufactures vehicles. The company’s products include passenger cars; light, medium, and heavy trucks; coach chassis; municipal transit and intercity buses; luxury tourist coaches; mini vehicles; engines; commercial trucks; SUVs and pickups; transmissions; axles; and components and parts. It offers its products through a network of dealers in China and internationally. The company was formerly known as First Automotive Works. China FAW Group Corporation was founded in 1953 and is based in Changchun, China with branches/representative offices/dealers in China, Algeria, Chile, Cameroon, D.P.R. Korea, Ethiopia, Egypt, Germany, ...

2259 Dongfeng Dajie

Changchun,  130011

China

Founded in 1953

Phone:

86 43 1859 0071 5

Fax:

86 43 1857 3070 7

Key Executives for China FAW Group Corporation

President and Chairman
Age: 50
Chief Financial Officer
Chief Accountant and Vice President
Age: 57
Vice President and Deputy General Manager
Age: 60
Vice President and Deputy General Manager
Age: 54
Compensation as of Fiscal Year 2014.

China FAW Group Corporation Key Developments

Volkswagen Extends China FAW Group Corporation Joint Venture

Volkswagen extended its joint venture with China FAW Group Corporation by 25 years. By extending the joint venture from 2016 to 2041, VW and FAW will expand their research and development activities and step up work on fuel-saving technology. VW, which also has a joint venture with China's SAIC Motor Corporation Limited, last year, sold almost 3.3 million cars in China, its biggest market, about a third of its record global deliveries of 9.73 million. The contract extension with FAW was signed on the occasion of talks between German Chancellor Angela Merkel and Chinese Premier Li Keqiang in Berlin. The length of the extension appears customary. VW's second joint venture with SAIC was extended in 2002 by 28 years until 2030. BMW in June extended its partnership with Brilliance China Automotive Holdings until 2028.

FAW Group Launches Production of Oley EV in China

FAW Group has begun production of new Oley electric in Changchun, China on 15 July 2014. The Oley EV has a maximum speed of 140 km/h and will be priced at around CNY 219,800 before subsidies. The car is expected to go on sale later this year.

FAW Group Opens New South African Truck Plant

FAW Group is set to inaugurate a new truck manufacturing plant at the Coega Industrial Development Zone outside Port Elizabeth, South Africa. During the first phase, the ZAR 600 million (USD 56 million) plant will produce 5,000 heavy commercial vehicles at full capacity and create approximately 450 jobs, excluding those at the supplier base. The plant is yet another indication of how Chinese automakers are focused on expanding their footprint in Africa. Chery, Lifan, and Brilliance, among others, have all set up plants in Africa. The new plant, which was originally announced by FAW in March 2012, was expected to have been completed by the first quarter of 2014. The plant - FAW's second in Africa, following the one in Ethiopia that was opened in 2012 - provides the Chinese automaker with a much-needed manufacturing base in South Africa, which can be used to cater to commercial vehicle demand elsewhere in the continent.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
January 13, 2014
FAW Bharat Forge (Changchun) Company Limited
 

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