Hongqi may makes its revival by the end of the year

Gasgoo.com (Shanghai June 13) - Hongqi, homegrown luxury car brand now owned by FAW Group, is speculated to make its revival at the end of this year, the Beijing News reported today. The new Hongqi, the C131, will be a top-of-the-line luxury car following in the footsteps of its ancestors. It is anticipated to be built at FAW's second factory.

FAW has reportedly invested nearly 1.79 billion yuan ($276.6m) in the C131 project. Annual production of the C131 is planned to reach 30,000 vehicles in 2013.

The C131 is reported to directly compete with the Audi A6, Mercedes E-Class and other luxury cars. According to FAW, the Hongqi will break free of decades of tradition of Chinese manufacturers mimicing foreign brands for inspiration, with the vehicle being the product of homegrown Chinese research from the ground up.