China FAW Qiu Xiandong: Hongqi will invest 120 billion yuan in R&D funds in the next five years

News on July 20: Recently, at the 4th China FAW Advanced Manufacturing Technology "Qizhi·iM" high-end forum, China FAW Chairman and Party Secretary Qiu Xiandong revealed in detail the grand blueprint of the Hongqi brand. According to Qiu Xiandong, the Hongqi brand has achieved wholesale sales of 200,000 vehicles in the first half of this year, a year-on-year surge of more than 40%, showing strong market growth. And this is just the beginning. He further announced that Hongqi will invest up to 120 billion yuan in research and development funds in the next five years to overcome 983 core technical problems. Among them, technology research and development in the fields of intelligent manufacturing and green manufacturing will be a top priority, and it is expected that more than 70 related technologies will be broken through. This strategic move marks Hongqi’s great strides towards the goals of “intelligent factories” and “zero-carbon factories”.

At the recent Hongqi Fan Ceremony on July 17, the PHEV plug-in hybrid version of FAW Hongqi’s new HS3 compact SUV made its debut.

Although the specific launch time has not yet been announced, it has attracted widespread attention from the market. This car is equipped with CATL’s power battery:

• The cruising range in pure electric mode can reach 115 kilometers
• The comprehensive cruising range exceeds 1100 kilometers

In addition, HS3 PHEV also provides:

• 3.3kW External discharge function
• 2.8kW car charging function
• 40W mobile phone wireless charging equipment

Hongqi’s international layout is also steadily advancing. It is understood that Hongqi plans to promote its EH7 and EHS7 electric models in European countries, including:

• Norway
• The Netherlands
• Switzerland
• Denmark
• Iceland
• Sweden

What’s even more exciting is that, according to AutoCar According to reports, Hongqi will also enter the British market with two new electric models in 2026, which will undoubtedly inject new vitality into Hongqi's global expansion strategy. -->

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