FAW Group

China FAW Group Corp., Ltd. (First Automobile Works) is a Chinese state-owned automobile manufacturer headquartered in Changchun, Jilin. Founded the 15th July 1953, it is currently the second largest of the "Big Four" state-owned car manufacturers of China, together with SAIC Motor, Dongfeng Motor Corporation and Changan Automobile. The company produces and sells vehicles under its own branding, such as Hongqi, Bestune (Benteng) as well as under foreign-branded joint ventures such as FAW-Toyota and FAW-Volkswagen (Volkswagen, Audi). Its principal products are automobiles, buses, light, medium and heavy-duty trucks, and auto parts. FAW became China's first automobile manufacturer when it unveiled the nation's first domestically produced passenger car, the Hongqi, in 1958. As a state-owned enterprise of China, FAW Group is controlled and managed by SASAC, which under Chinese law performs the functions of an investor.