FAW increases investment in new energy technologies and develops power battery industry

As one of the representative brands of traditional fuel vehicles, FAW has continued to increase its investment and research in the field of new energy technology in recent years to accelerate its electrification transformation. Several battery projects have made breakthrough progress. For example, Times FAW Power Battery Co., Ltd. was established in 2018 with a total investment of more than 6 billion yuan. It was jointly funded by four "giants" including CATL, FAW China, Dongfeng Zhixin Technology, and Changan Deep Blue Automobile. It is a technology-based manufacturing company integrating new energy power battery research and development, production, sales, after-sales and technical services. Since its establishment, it has equipped more than 20 models with high-safety, high-quality and high-performance battery products. Three years after it was put into production, it has been equipped with 1 million new energy vehicles, and there have been "0" accidents so far.