FAW Volkswagen (Chengdu) Manufacturing Factory
In July 2007, FAW-Volkswagen introduced Jetta to the company for production. According to the assessment, as of February 29, 2008, Chengdu FAW
had a net asset of 481.905 million yuan.
Chengdu FAW Automobile Co., Ltd. is a new company established by the former Sichuan station wagon manufacturer in October 2002. Zhu Yanfeng,
general manager of China First Automobile Group, served as chairman of Chengdu FAW; Jiang Zhizhong, served as general manager of Chengdu FAW.
Among the company's equity, China FAW accounts for 81.15%, and Chengdu Industrial Investment Company accounts for 18.85%.
Chengdu FAW has a total number of 1,958 people; covers an area of 291,000 square meters; total assets of 2.034 billion yuan; net fixed assets of 395
million yuan; and the average debt-to-asset ratio is 36.7%.
Chengdu FAW's business scope is to manufacture (sell) "West China" and "Costar" medium and light passenger cars, "dominant" off-road vehicles and
series of products and parts; Chengdu FAW's purpose is to rely on and give full play to the advantages of China FAW, and develop the Chinese automobile
market with high-quality products and excellent services, with the purpose of improving economic and social benefits.
The predecessor of Chengdu FAW, Sichuan Station Vehicle Manufacturing Factory, is one of the national designated manufacturing enterprises for
medium and light passenger buses. It has been among the 500 largest industrial enterprises in China for many years. It is an advantageous key and
strong enterprise in Sichuan Province and Chengdu.
In 1998, it jointly established Sichuan Toyota Motor Co., Ltd. with the world-renowned large multinational company, Japan, and was the first to
introduce Fortune 500 companies to Chengdu and established Toyota's first complete vehicle joint venture invested in China.
In 1999, a joint venture with Japan Yaleke Co., Ltd., controlled by Toyota, established Chengdu Yaleke Automobile Interior Parts Co., Ltd. with a total
investment of US$7.5 million, supporting seats and interior parts for commercial vehicles such as "Costar" and "Badao", which promoted the
development of supporting capabilities of parts in Chengdu's automobile industry. After joining forces with the international automobile giant,
Toyota, Japan, in order to further expand and strengthen its strength, especially to enhance the risk resistance of the enterprises after joining the
WTO, under the leadership of the Sichuan Provincial Party Committee, the Provincial Government, the Chengdu Municipal Party Committee and the
Municipal Government, the company joined China First Automobile Group with all its excellent net assets and established Chengdu FAW Automobile
Co., Ltd. It is estimated that from 2005 to 2008, the company will achieve sales revenue of 5 billion to 8 billion yuan.
At present, under the unified leadership and unified planning of China First Automobile Group, we are stepping up the formulation of the development
strategic plan for the new company. As an important part of the strategic development of China First Automobile Group Corporation in the southwest
and the cornerstone of the automobile industry in Sichuan Province and Chengdu, we firmly believe that with the hard work of all employees, and the
corporate spirit of "learning, innovation, struggle, and self-improvement", the strategic goals of FAW Chengdu production base will definitely be
achieved.
China First Automobile Group spokesperson 2009-03-17 said that the group and Germany's Volkswagen Co., Ltd., a joint venture between the group
and Volkswagen Germany, agreed to 5.0。
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