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Hongqi (Chinese: 红旗; pinyin: Hóngqí) is a Chinese luxury car brand operated owned by the automaker FAW Group. Hongqi was launched in 1958, making it the oldest Chinese passenger car brand. [1] In Chinese, hongqi means "red flag." Originally, Hongqi models were only for high-ranking government officials. [2]
Below is a list of major car company joint ventures ever existed in mainland China (truck and coach JVs not included). Early 1980s-90s CKD assembly agreements are not included as the production numbers are typically negligible compared to later JV efforts. Technology transfer agreements to domestic brands are also not included.
Currently one of the fastest growing automotive groups in the world, Geely is known for its ownership of the Swedish luxury car brand Volvo Cars, its performance counterpart Polestar, and the British sports car company Lotus. It also owns the brands of Geely, Livan, Lynk & Co, Zeekr, Volvo Cars, LEVC, Farizon, Ji Yue, Proton and Smart. [16]
Major global luxury brands like Mercedes-Benz, BMW, Audi, and Lexus have operations in China. Audi, which has dominated China's luxury car market for more than two decades, is the market leader in the luxury car segment, with China being Audi's second-largest market in the world.
Denza (Chinese: 腾势; pinyin: Téngshì) is BYD's first luxury car brand. [208] It was established in May 2010 as a joint venture with Mercedes-Benz AG (previously Daimler AG). [ 209 ] Its first model, the Denza 500 is based on an earlier generation of the Mercedes-Benz B-Class . [ 210 ]
BYD's new luxury supercar, the Yangwang U9, stole the show with its "dance" in a massive booth near the exhibition's entrance. Chinese EV brands make their presence known at the Singapore Motor ...
Its luxury car marker was experiencing "more challenging times," CEO Chris Brownridge told Bloomberg in September. The Chinese market has become increasingly difficult for European brands.
The company started exporting cars from China in 2001, ahead of other Chinese manufacturers and has been the top exporter of Chinese brand passenger vehicles since 2003. The company exported 269,154 vehicles in 2021, 451,337 vehicles in 2022, and 937,148 vehicles in 2023, accounting for 52 percent of its overall sales.
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