Xinhua Finance: Hongqi Auto Participates in the Automotive New Quality Productive Force Development Forum

CHONGQING, China, Oct. 9, 2024 /PRNewswire/ -- Hongqi Auto recently participated in the Automotive New Quality Productive Force Development Forum, showcasing its achievements in the brand exhibition area. As a premium automotive brand under FAW Group ("FAW"), Hongqi is dedicated to delivering exceptional products and services that meet the growing consumer demand for superior lifestyles and delightful travel experiences.

The four vehicles displayed at the forum—Hongqi EH7, Hongqi HS7 PHEV, Hongqi HS3 PHEV, and Hongqi HQ9 PHEV—highlight the brand's latest technological advancements and design innovations.

"In 2021, FAW embarked on a digital and intelligent transformation strategy. Our journey towards this transformation is anchored in overhauling our core business," said Men Xin, Vice President of FAW Hongqi Brand Operation Committee and General Manager of the System Digitalization Department. The next phase of the transformation focuses on developing an AI-powered large model application that covers research, production, supply, sales, and service, aiming for complete business restructuring. This initiative is expected to enhance employee skills, evolve the brand's business model, and significantly improve corporate efficiency.

FAW Hongqi's wholesale sales surpassed 201,500 units in the first half of 2024, a 42.6% year-on-year growth. Retail sales rose to 190,900 units, up 25% over the same period. Additionally, Hongqi's sales of electric vehicles (EVs) in 2023 exceeded 85,000 units, a remarkable 135% year-on-year increase.

SOURCE Xinhua Finance