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In order to achieve the goal of radical growth set in the next few years, it hopes to bring a new round of growth through pure electric power, according to the Financial Associated Press. According to the documents, these models include an all-electric SUV codenamed E115 and two all-electric cars codenamed E111 and HQE230. Among them, the new pure electric model E115 is close to mass production, and the equipment needed for the transformation of the production line is being purchased. Another brand new all-electric car, E111, is also under way. According to EPA documents, Red Flag will start production of the all-electric SUV code-named E115 in 2020, with a total investment of 1.75 billion yuan and a total production of 51500 cars within six years of planning. The car is expected to go on sale in 2021.

E115 pure electric SUV and E111 pure electric cars are only part of Red Flag's expanded product lineup. According to FAW Hongqi's official website, FAW Hongqi's current models on sale include two cars, H5 and H7, two SUV HS5, HS7 and an A-class pure electric E-HS3. From the product point of view, the product covers medium-sized cars to medium-sized SUV, medium-and large-sized cars Red Flag H9 will also be on the market this year, but from the point of view of the product camp, it is still very thin.

Red Flag has revealed on its website that a number of products such as HS7, HS5, CC29, E-HS3, EE15, E111, HQE320 and L5 are being promoted. Among them, HS5, HS7, H5, H7E-HS3 and L5 models have been put on the market. In addition to the advancing E115 and E111 models, a production line codenamed HQE320 pure electric SUV is also under construction.

At present, the Red Flag brand has become the main independent brand of FAW Group. With the gradual promotion of the product camp, the sales volume of the new Red Flag brand is also gradually increasing. In the first two months of 2020, the sales of major car brands are in trouble, but the Red Flag brand has achieved year-on-year growth. According to sales data, sales in February 2020 were 3752 vehicles, up 32.5% from a year earlier. From January to February, cumulative sales increased by 16382 vehicles over the same period last year, up 103.8 per cent from the same period last year.

According to Xu Liuping, chairman of FAW Group, the new Hongqi brand will achieve its annual sales target of 200000 vehicles in 2020, 400000 vehicles in 2022, 600000 vehicles in 2025 and challenge the sales target of 1 million vehicles by 2030.

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