For December 2022, EV output came to 795,000 units, up by 3.52% month on month and up by 51.80% year on year. EV sales totaled 814,000 units last month, up by 3.56% month on month and up by 51.80% year on year.

China is now poised to take on global leadership of the EV industry  creating an economic growth engine for decades to come.

Xu Liuping, Secretary of the CPC FAW Group Committee and Chairman of the group, fully elaborated on Hongqi’s strategic vision, targets, planning, and innovative measures in the future. “By establishing and developing four sub-brands including ‘New Energy Vehicle (NEV), Hybrid Electric Vehicle (HEV), Luxury Vehicle, and Sports Car’, FAW will further improve Hongqi’s overall brand architecture in the future,” said Xu Liuping, adding that Hongqi expects to realize annual sales of 1 million units by 2025, including more than 500,000 new energy vehicles; by 2030, the annual sales will exceed 1.5 million units, of which new energy vehicles will become the biggest contributors to the sales.