FAW invests $46 mln in R&D on new energy vehicles

Shanghai December 31 (Gasgoo.com) Chinese auto giant FAW Group announced Wednesday it has invested 12.9 billion yuan ($1.96 billion) in research and development (R&D) during the "11th Five-year Plan" period (2006 - 2010), of which 300 million yuan ($45.6 million) was spent on R&D of new energy vehicles, nfdaily.com reported Friday.

The huge investment has yielded more than 400 new models, over 1,000 scientific achievements, about 300 rewards and 1028 patents, while the investment in the new energy field has gained the automaker 65 patents, with 38 of them awarded by the United States Patent and Trademark Office (USPTO).

FAW showcased its E-COO electric concept car at the just-concluded Guangzhou Auto Show. A self-developed T series engine using the VCT-I technology powers the car, which has enhanced E-COO's output power by 35% and reduced fuel consumption by 10%. The car has logged over six million kilometres of reliability and performance testing.

FAW, which has been in cooperation with Volkswagen, Toyota and Mazda, rolled out its 1 millionth own brand model on December 22, marking another major milestone for the company's R&D capability.
 
In addition, the company said it has achieved R&D breakthroughs in engine, chassis, body, air conditioning, electronic control, bullet-proof, manufacturing technologies and other aspects, embodied by its high-end Hongqi (Red Flag) sedans.