Hongqi

Founded in 1958, Hongqi (meaning 'Red Banner') holds the distinction of being the oldest passenger car brand in China. Initially established to produce vehicles exclusively for high-ranking government officials and state events, the brand became a symbol of Chinese automotive prestige. The first mass-produced model, the CA72, was followed by the iconic CA770 series, which solidified its status as the 'national car' of China. Production of the original Hongqi vehicles ceased in 1981 as the brand struggled to adapt to changing market conditions. However, the brand was resurrected in the mid-1990s as FAW Group sought to revitalize its luxury portfolio. Early attempts at modernization, such as the HQ3, saw limited commercial success, leading to a period of low sales volume throughout the 2000s and early 2010s. Since 2017, Hongqi has undergone a massive strategic transformation, shifting its focus toward private consumers and aggressive electrification. This pivot has resulted in rapid growth, with annual sales climbing from fewer than 5,000 units in 2017 to over 400,000 units by 2024. Today, the brand is actively expanding its footprint into global markets, including the Middle East and Europe, with a lineup of advanced internal combustion and electric vehicles.