China FAW Group Corporation Profile

China FAW Group Corporation, commonly referred to as FAW due to its original name of First Automotive Works, broke ground for its first factory on July 15, 1953. Since then, FAW has been at the forefront of promoting China's automobile industry. Although FAW began life solely as a truck producer, it later expanded into the light-duty truck and car sector. In 1991, working in partnership with Volkswagen AG, FAW created a new state-of-the-art production facility with a yearly production capacity in excess of 150,000 units. In 2002, Tianjin Automobile Industry (Group) Corporation was merged into FAW Group Corporation, and began joint venture production with Toyota Motor Corporation. At present, FAW's current production strategies put a heavier emphasis on the production of cars while maintaining a dominant position in the truck industry.

FAW has 27 entirely owned subsidiaries and controlling interest in 20 partially owned subsidiaries. Among these are FAW Jiefang Automobile Co., Ltd. and FAWER Automobile Parts Co., Ltd, which are entirely owned subsidiaries; FAW Car Co., Ltd. ,Tianjin FAW Xiali Automobile Co., Ltd. and Changchun FAW Sihuan Automobile Co., Ltd., whose shares are traded on the stock exchange, and FAW-Volkswagen Automobile Co., Ltd. and Tianjin FAW Toyota Motor Co., Ltd., and etc which are Sino-foreign joint ventures. FAW's production bases are evenly distributed in Northeastern China, Northern China and East of Shangdong Province, and Southwestern China. FAW also has an advanced technology center for research and development of new products, technology and materials in China. The company's total assets are valued at 102.4 billion Yuan (US $ 12.4 billion) with over 132,400 employees.

FAW has expanded its product line into 6 different categories of vehicles including light, medium, and heavy-duty trucks, cars, buses, and mini-vehicles with total sales in excess of 7 million vehicles. FAW has been able to maintain its leading domestic market position while expanding into new international markets, executing a carefully planned strategy to build a comprehensive global organization.

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