FAW Group, the parent company of Faw Car (000800), plans to achieve a sales volume of five million vehicles during the 12th Five-Year Plan period as well as a market share of 20 percent and sales revenue of 600 billion yuan, reports yicai.com, citing a news report from the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council.
The group plans to focus on manufacturing new energy vehicles and developing approximately 60 key new technologies during the 12th Five-Year Plan period.
In addition, FAW has established a branch dedicated exclusively to producing and repairing new energy vehicles.
