FAW Group expands new energy vehicle production capacity with Yueda Kia

FAW Group plans to expand its new energy vehicle production capacity in Yancheng, Jiangsu Province. The group has acquired the passenger vehicle production qualification of Jiangsu Guoxin New Energy Passenger Vehicle Co., Ltd. and established a Yancheng branch. FAW Group Yancheng Branch will use the land and factory buildings of Guoxin New Energy Second Factory to build a project with an annual production capacity of 70,000 pure electric passenger vehicles.