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On the evening of September 5, FAW Red Flag released the new energy strategy in the form of "online". Xu Liuping, chairman of China FAW and secretary of the party committee, presided over the conference in virtual form. At the meeting, Red Flag announced three new new energy concept cars, namely the New Red Flag Sedan EV, the New Red Flag SUV EV and the New Red Flag E-LS. The three new cars all adopt the new design aesthetic style, and the new cars incorporate more color designs into the flag and the Chinese character logo "Red Flag" to enhance their recognition.

Among the three new concept cars, the new red flag Sedan EV product code E001, positioning B class new energy car, based on the new FMEs platform architecture, is also the first new energy car built by the platform, the new car will be unveiled and put on the market in 2023. On the power system, according to officials, the new car has a long range of 1000 + km, supports 30kW wireless charging, and can be recharged and recharged at the same time. The mileage of 350 km can be reached in 5 minutes and accelerated by 0-100km/h for 3 seconds.

New Red Flag SUV EV product code E202, positioning B-class new energy SUV, also based on the new FMEs platform architecture, equipped with active air suspension, intelligent four-wheel drive technology, rear wheel steering and so on, the new car will be unveiled and put on the market in 2024.

New Red Flag E-LS product code E809, positioning new energy flagship SUV, based on the New Red Flag L platform development, equipped with Flying Blade 1.0 smart architecture, FAW OS, high computing hardware architecture, etc., the new car will be unveiled and put on the market in 2025.

From the point of view of the time when the three new cars were unveiled and put on the market, FAW Red Flag's three new new energy vehicles were launched in 2023 and 2024 respectively, that is, they were launched at the speed of "one a year". Xu Liuping, chairman and party secretary of FAW, said at an online press conference in the form of virtual characters and virtual voices that Red Flag plans to release 13 new energy smart products by 2025, covering H, Q, S and L series. the production and sales of new energy smart products have reached more than 500000, and the overall sales of the Hongqi brand have exceeded 1 million.

Red Flag is a high-end car brand directly operated by FAW of China. The first Red Flag car was born in August 1958 and became a state vehicle for national leaders and major national events. In 1981, Red Flag cars were shut down due to high fuel consumption and high manufacturing costs. In 1996, Red Flag cars resumed production. In fact, before 2018, sales of the Red Flag brand were so mediocre that it was on the verge of delisting. Until January 2018, FAW announced that the strategic sales of the new Red Flag brand began to take a turn for the better. at that time, Red Flag determined that the product rectangle launched four series of products, namely, H-series, Q-series, S-series and L-series. among them, the Red Flag H series is named the new noble mainstream car, the Q series is named the new noble travel business car, the S series is named the new noble coupe, and the L series is named the new noble car. The product planning of several series has given the red flag product rectangle an embryonic form, and it is clear that 17 new products involving the above four series will be launched by 2025. In terms of sales targets, Xu Liuping, chairman of FAW, said that sales would be 100000 units in 2020, 300000 units in 2025 and 500000 units in 2035.

According to the red flag wholesale sales data, the red flag sales distribution from 2018 to 2020 is 25294 vehicles, 100016 vehicles, more than 200000 vehicles. From the data, we can see the trend of red flag sales growth year by year, and the growth rate is very fast.

Up to now, there are two major product systems of car family and SUV family in the existing product camp of Hongqi, covering the middle and high-end market of 15-700000 yuan, covering fuel and pure electricity, among which the car family has four models: H5, H7, H9 and E-QM5, and the SUV family has five models: HS5, HS7, E-HS3, E-HS9 and LS7. Among them, Red Flag LS7 is a brand new model launched by Red Flag this year, and it is also the first model of L series. The new car is positioned as a super-luxury large SUV, with a total of two models: elegant flagship (six seats) and Zunjue flagship (four seats). Red Flag H5 will be replaced this year.

In early 2022, FAW Group finalized its annual sales of 4.1 million vehicles, an increase of 17.1% over the same period last year, of which FAW Red Flag assumed 45-500000 of its sales target of 4.1 million vehicles. Data show that FAW Red Flag accumulated sales of more than 300000 vehicles in 2021, an increase of more than 50% over the same period last year. However, considering that there are not many new models launched by FAW Hongqi in 2022, it is difficult to achieve the annual sales target of 450000-500000 vehicles.

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