FAW

China FAW Group Corporation, abbreviated as "FAW" or "First Automobile Works", is a state-owned large-scale automobile manufacturer. Headquartered in Changchun, Jilin Province, its predecessor was the First Automobile Works, with the factory name inscribed by Chairman Mao Zedong. FAW was founded in 1953, completed and put into operation in 1956, producing the first Jiefang brand truck in New China. In 1958, it produced the first Dongfeng brand sedan and the first Hongqi luxury car. The completion of FAW opened a new chapter in China's automotive industry. After more than fifty years of development, FAW has become one of the largest automobile enterprise groups in the country.
As of March 2012, China FAW has 22 functional departments, 5 branches, 6 wholly-owned subsidiaries, and 4 controlling subsidiaries. Among them, 4 are listed companies: FAW Car Co., Ltd., Changchun FAWAY Automobile Components Co., Ltd., Tianjin FAW Xiali Automobile Co., Ltd., and Qiming Information Technology Co., Ltd. The main business segments are divided into research and development, passenger vehicles, commercial vehicles, parts and components, and derivative economy. FAW employs 120,000 people and has total assets of 213.65 billion RMB.
Through years of development and construction, FAW has cultivated a corporate culture centered on the core values of "Striving for Excellence, Innovation, and Responsibility" and the enterprise spirit of "Learning, Innovation, Striving, and Self-Improvement." It has preliminarily established a modern enterprise system that meets market competition needs. Gradually, it has formed production bases in Northeast, North, Southwest, and South China, creating a well-laid-out, nationwide, and internationally oriented development pattern. It has renovated and built new factories for trucks, cars, light vehicles, and buses, establishing advanced manufacturing facilities. Independent R&D and core competitiveness have continuously improved, forming a multi-variety and wide-series product portfolio covering trucks, cars, light vehicles, and buses. It owns independent brands such as Jiefang, Hongqi, Besturn, and Xiali, as well as joint venture brands like Volkswagen, Audi, Toyota, and Mazda.
For many consecutive years, FAW's production and sales volume and operating revenue have ranked among the top in China's automotive industry. In 2011, FAW sold over 2.6 million vehicles and achieved operating revenue of 369.43 billion RMB, ranking 197th in the "Fortune Global 500," with the brand value of "China FAW" reaching 98.287 billion RMB. To date, FAW has cumulatively produced and sold over 18 million vehicles of various types and achieved total profits and taxes exceeding 250 billion RMB.
Looking to the future, FAW has set forth its corporate vision and goals: "Adhere to customer first, respect employee value, protect shareholder interests, promote social harmony, and strive to build an internationally competitive 'indigenous FAW, strong FAW, and harmonious FAW'." FAW people, with their unique automotive passion, are striving and aspiring to make new and greater contributions to promoting the sound and rapid development of the automotive industry and achieving harmonious development among people, vehicles, and society.