Hongqi, the Chinese luxury brand and figurehead of the FAW Group, is gearing up to launch two new SUVs’ in 2019. The luxury car will target the private car market while the sales of the car including first electric Hongqi SUV model is set to begin next year.
All new design has been created at the state-owned company FAW and Hongqi. “FAW aims to bring annual Hongqi sales up to 100,000 by 2020 and 300,000 vehicles by 2025,” said Xu Liuping, chairman of the FAW Group.
The Chinese have been through endless years without significant design progress, and technically, not much has happened. The last imposing flagship, Hongqi L5, was presented in 2012. Hongqi will be launching 17 new models over the next few years, which is an exciting job full of challenges.
Hongqi, with its more than 60-year history in China, is commonly regarded as a premium brand reserved for privileged and senior government officials but has lost none of its importance to ordinary consumers. Hongqi currently sells the three H5, H7 and LS sedans in China. In the first half of the year sales were just 9,400 units, a jump of 472 percent over the previous year.
FAW has a long-term plan for Hongqi to grow into a true premium brand over the next decade. According to its product plan, Hongqi will launch a total of 17 new models by 2025, of which 15 will be NEVs (plug-in hybrids and electric cars). The first all-electric model, the E-HS3, is expected to be launched in the middle of next year. The HS7 SUV will be presented to Chinese customers later this year.