FAW Invests More on R&D

News from First Automobile Works (FAW) Group says that FAW will increase research and development (R&D) investment by 61 percent in the year of 2009. The total spending will reach 4.23 billion Yuan (619 million U.S. dollars) despite the financial crisis.

 

FAW will focus on energy-saving and environment-friendly products in this year, also it eyes on China rural area market. Auto sales last year in China hit a record 218.4 billion Yuan, up 8.8 percent.

 

FAW was founded in 1953. Headquartered in Changchun, the capital of the Jilin Province.

 

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