China's leading automaker FAW targets 4m car sales in 2021

CHANGCHUN - China FAW Group Corporation, a leading automobile maker in China, planned to sell more than 4 million vehicles in 2021, up over 7.9 percent from 2020, the corporation said Tuesday.

The operating revenue is expected to reach 770 billion yuan ($120 billion) this year, up more than 10.6 percent compared with the previous year.

The company plans to sell over 200,000 new-energy vehicles in 2021, a 300 percent increase year-on-year, and 400,000 units of its iconic sedan brand Hongqi, up 100 percent year-on-year.

The company sold 3.7 million vehicles in 2020, up 7.1 percent from 2019.

Founded in 1953 in the northeastern city of Changchun, capital of Jilin province, the FAW Group is seen as the cradle of China's auto industry.