Top stories of FAW Group in 2017

Shanghai (Gasgoo)- 2017 saw many changes in FAW Group. The hot words on many report was probably “personnel change”, especially changing heads with Changan Auto. Actually, apart from the changes in personnel structure, there were also other events that have attracted a lot attention.

FAW changes company name

On December 21, FAW Group announced that it has changed its name from China FAW Group Corporation to China FAW Group Co. Ltd. and according to the company, the English abbreviation of its name remains to be FAW. The State-owned Assets Supervision and Administration Commission of the State Council has approved this reforming plan on the company’s system and FAW managed to change the industrial and commercial registration information on December 14.

FAW, Changan, Dongfeng sign strategic cooperation framework agreement

At the beginning of December, Changan Automobile signed a strategic cooperation framework agreement with FAW Group and Dongfeng Motor Corporation in Wuhan. Three companies will cooperate in advanced generic technology innovation, the whole value chain operation of the auto industry, the strategy of going global together and new business mode.

Their joint statement says that the cooperation signifies that the three state-owned enterprises plan to conduct comprehensive cooperation to promote the development of China auto market and enhance the strength of Chinese auto brands.

FAW, Changan exchange heads

In August, FAW Group and China South Industries Group Corp (CSGC), both of which are state-owned enterprises, announced to change chairmen. CSGC is the parent company of Changan Automobile Group. Xu Liuping would leave CSGC as director, general manager and deputy secretary of the party committee at CSGC and would be the chairman and secretary of the party committee of FAW Group. At the same time, Xu Ping was named as chairman and secretary of the party committee at CSGC.

FAW becomes the first automaker partner of Baidu Apollo plan

In July, FAW and Baidu entered into strategic cooperation partnership to cooperate in vehicle-connected products, autonomous driving, brand promotion, innovative marketing and cloud service. The automaker will be deeply involved in the Apollo plan and they will develop technology together in autonomous driving segment, intelligent connected and smart transportation.

Hongqi restarts the plan to expand channel dealerships

In March, Hongqi brand announced to restart the plan to set up 36 4S shops in 35 cities. This was the first movement of the brand after it got independent from FAW Car. The dealership plan mainly focused on tier 1 cities and main cities. Sources from FAW Group revealed that many luxury dealerships had expressed their investment intention to Hongqi.

FAW, Dongfeng sign cooperation agreement

Dongfeng Motor Corporation and FAW Group signed an agreement in February to build a joint innovation center. Both parties will cooperate in 5 main areas, including fuel cell technology, smart connectivity and testing facilities. But the companies did not disclose financial terms. The move sparked wide speculation that the companies may merge.

FAW-VW Audi dealership announced a declaration

On February 16th, CADA Audi dealers association was established in Sanya. At the inaugural meeting, the FAW - Volkswagen Audi dealers issued the "Sanya Declaration". The statement said, FAW - Volkswagen dealers understand that Audi wants to remain No.1 in China luxury vehicle market. The dealers are willing to join hands with Audi together to achieve 1 million sales target of 2020 strategy. After the goal is reached, they will not oppose Audi’s evaluation and selection of new partners and establish new sales network in China.