China FAW Flying Car Global Headquarters Settles in Shenzhen Dapeng New District

China FAW Group Corporation (FAW) has signed a cooperation agreement on the innovative development of the flying car industry with Shenzhen Dapeng New District, Shenzhen Municipal Bureau of Industry and Information Technology, and Shenzhen Municipal Transportation Bureau, marking the official establishment of the FAW Group's global flying car headquarters project in Dapeng New District. FAW Group will establish a wholly-owned subsidiary, FAW Qiyi (Shenzhen) Technology Co., Ltd., in Dapeng New District to build a global headquarters, R&D center, and production base, and plans to realize the first flight of its first product, Hongqi Tiannian No. 1, in 2025.