July 15, 1953, the first in China Automotive Corporation has registered its name from First Automobile Works (FAW), which marked the beginning of the creation of the first automotive plant, and gave a powerful impetus to the beginning of the development of the automotive industry in China.
Over its fifty-year history, FAW Corporation has made a number of important steps aimed at development of the industry in the country. Beginning with the first day of work, and to this day, FAW Corporation is a leader in the Chinese automotive industry. Despite the fact that the original FAW Corporation began its operations only as a manufacturer of trucks, she later took the sector of low-power cars and trucks.
In 1991, working in close cooperation with Volkswagen AG company, FAW creates and implements new production capacity with an annual capacity of more than 150 000 units. In 2002, the merge FAW and Tianjin Automobile Industry Group Corporation, which gives rise to a joint industrial ventures and cooperation with Toyota Motor Corporation. Currently, the production FAW strategy has a strong emphasis on the production of cars at the same time while maintaining a dominant position in the commercial vehicles industry.
FAW Corporation owns 30 subsidiaries, and FAW controls interests in 16 partially owned subsidiaries structures. Among them are: FAW Jiefang Automobile Co., Ltd. and FAWER Automobile Parts Co., Ltd, which is fully owned by the Corporation; Tianjin FAW Xiali Automobile Co., Ltd and Changchun FAW Sihuan Automobile Co., Ltd, the shares are traded on the stock exchange; FAW Volkswagen Automobile Co., Ltd and Tianjin FAW Toyota Motor Co., which are associations of enterprises Sino-foreign. FAW Production is delivered both through the northern Chinese city of Tianjin, the northern province of Heilongjiang and Julin, and through the eastern province of Shandong, and the south-western province of Sichuan. The corporation also includes FAW center for the development of new technologies, materials and products. Total assets of the Corporation FAW exceed 106.2 billion yuan, which leaves about 12.8 million US dollars in enterprises corporation employs more than 124,000 employees.
FAW Corporation develops its production lines in six different areas of production vehicles, including trucks, cars, buses and subcompact, with total sales of more than 6 million vehicles. FAW Corporation plans to maintain its leading position in the domestic market, in parallel developing the promotion of their products to new international markets by implementing a carefully planned strategy to build an extensive global sales and supply.
FAW Corporation is guided by the realization of a dream "Every Chinese family - car", as central to the values of the Corporation hold the desire to create not just a "first car", but the "first partner", and the priority relation to his client. Employees FAW Corporation diligently working to achieve new heights corporation using the latest scientific and technological achievements. The Corporation aims to become a company, not just a leader in the auto industry, but produces no less than one million vehicles, and holds a strong position in the international market.