World Brand Lab released the "China's 500 Most Valuable Brands of 2021" list in Beijing on June 22. In the annual report, FAW ranks the ninth with a brand value of 372.672 billion RMB. This also marks the 18th year in a row that the brand value of FAW tops the list in China’s automobile industry.
Guided by an overall development strategy, FAW Group focused on key tasks such as technological innovation, product research and development, brand building, and continued to intensify efforts in self-owned brands building. With these efforts, FAW Group has made continuous breakthroughs in operation and business performance, and achieved repeated improvements in brand values.
Compared with last year, the brand value of “China FAW” increased by 34.116 billion RMB.
According to the list, “Jiefang” brand ranks the 59th with a brand value of 96.528 billion RMB, while the “Hongqi” brand ranks the 63rd with a brand value of 92.508 billion RMB. Brand values of the two brands increased by 8.818 billion RMB and 12.13 billion RMB compared with the values of 2020, respectively.
FAW is a leading global manufacturer of quality passenger cars, trucks, and buses. Established in 1953, the company is China’s oldest and largest automotive group. Annual sales exceed three million units.