FAW intends to set up overseas wholly-owned subsidiaries in 8 countries
On July 1st, FAW held the 27th meeting of the Tenth Board of Directors to consider and pass the "Proposal on the Establishment of a New Overseas Subsidiary".In order to fully implement FAW `s overseas industrial strategic plan and accelerate overseas localized operations, FAW intends to invest in Uzbekistan, Indonesia, Vietnam, Saudi Arabia, Mexico and other 8 countries, and set up wholly-owned subsidiaries, with a total investment of 498 million yuan. RMB.
This layout is a strong promotion of FAW 's “SPRINT 2030” internationalization strategy, aiming to accelerate the construction of internationalization capabilities and provide strong support for breakthroughs in overseas sales.
Since the release of the “SPRINT 2030” internationalization strategy in December 2024, FAW has continued to deepen its global layout, established FAW Group International Automobile Co., Ltd., completed the acquisition of FAW Africa Investment Co., Ltd. and FAW Automobile (Tanzania) Company, reached a cooperation agreement with Indonesia GMM Company over a thousand units, signed a memorandum of Cooperation with South Korean partners, etc., Each achievement is a powerful witness to FAW 's expansion in the international market.The establishment of overseas subsidiaries in 8 countries marks that FAW has once again increased its overseas markets and entered a new stage in its internationalization journey. By focusing on high-potential markets, it will continue to enable overseas business with forward-looking layout and localization.
Facing the future, FAW will comprehensively build six internationalization strategic initiatives of “globalization layout, multi-brand operation, technology leadership, business innovation, win-win cooperation, and people-oriented”, and continue to promote globalization layout.With the steady advancement of the establishment plan of wholly-owned subsidiaries in 8 countries, FAW will ride the wind and waves in the wave of globalization at a firm pace, steadily moving towards the strategic goal of “China First, world first”.
