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On January 8, the "Red Flag New Energy vehicle Global Strategy Conference" was held in Guangzhou. At the press conference, Xu Liuping, chairman and party secretary of FAW, said that the target sales of the Red Flag brand will exceed 1 million in 2025, and the sales of new energy vehicles will reach 500000. By 2030, the target sales of the Red Flag brand will exceed 1.5 million, and new energy vehicles will become the main body of sales.

At the same time, Xu Liuping also introduced the mission of Hongqi new energy brand, that is, to lead the key core technologies of new energy, to establish new energy high-end national automobile brands, and to create a new road for the innovation and development of China's new energy high-end brand automobile industry in a new era. It is understood that the brand vision of Red Flag New Energy includes creating wonderful travel, beautiful experience, good life, and creating a world-famous, green, intelligent, consumer-loved brand of new energy vehicles.

At the press conference, under the new strategic layout of the Red Flag brand, there are four sub-series of new energy, energy-efficient cars, top cars and supercars, among which the Red Flag New Energy brand adopts a new logo, which is officially called "Qimiao wings". According to reports, the new logo not only expresses the original intention of the red flag new energy brand to care about nature and cherish life, but also shows the red flag brand's determination to focus on new energy and gather green intelligent travel. Xu Liuping said that in the next three years, Hongqi New Energy brand will launch 15 new energy smart products intensively at high frequency, covering all market segments of A, B, C, D cars, SUV and MPV respectively.

As the layout under the new strategy, Hongqi New Energy Family will launch three important new products in the future. In fact, these three new products were spoiled at the "Red Flag Brand Metasmology Celebration" held in September 2022, namely New Red Flag Sedan EV (product code E001), New Red Flag SUV EV (product code E202) and New Red Flag E-LS (product code E809).

New Red Flag Sedan EV is the first all-electric medium-sized car developed by FMEs platform, and it is also the first model of Hongqi New Energy. The new car will be unveiled and put on the market in 2023. According to officials, the new car can reach 1000km, support 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.

The new Red Flag SUV EV is a pure electric medium-sized SUV born on the same architecture, and the car will be officially unveiled at the end of 2023. Its front face has a very exaggerated decorative design. In addition, the car also has intelligent active air suspension, intelligent four-wheel drive technology, rear wheel steering and other technologies.

Another new red flag E-LS will be launched in 2024, based on the new energy flagship SUV developed on the new red flag L platform. It integrates the world's top new energy intelligence technology, ultimate craftsman manufacturing technology, new energy design aesthetics and driving experience, and becomes the pinnacle of the brand's new energy intelligent driving era.

Xu Liuping said that Hongqi brand will promote the electrification of all models by All in new energy. And in practical work, starting from the second half of 2022, except for special-purpose models, Hongqi brand has achieved "two all, one stop", that is, technological innovation investment is all spent on new energy vehicles, and the new production capacity is all spent on new energy vehicles. Stop the new investment in traditional fuel vehicle technology and production capacity. Under the new structure, Red Flag will next launch 15 new energy products, covering multiple classes of cars, SUV and MPV models.

In 2016, FAW Group stripped the Red Flag brand from FAW cars and operated independently. Brand positioning is the concept of "Chinese-style new noble refinement", with the layout of L, S, H and Q product series. it covers ultra-luxury, sedan, mainstream and business positioning. Among them, the Red Flag brand H series aims at Cadillac, Lexus, Volvo and other second-tier luxury brands.

After the brand rejuvenation, the overall sales volume of FAW Red Flag has increased rapidly. Wholesale sales show that the cumulative sales of the Red Flag brand increased from 26665 in 2020 to 99331 in 2019 and 196684 and 299684 in 2019-2021, respectively. However, after entering 2022, the strong sales trend of the Red Flag brand began to relax due to the epidemic and the supply of spare parts. since then, the Red Flag brand has no longer announced its monthly sales performance as scheduled. Data show that the Red Flag brand sold 256270 vehicles in the first 11 months of 2022. Compared with the previously proposed sales target of 400000 vehicles in 2022, the completion rate is only 64.1 per cent.

More importantly, Red Flag is relatively mediocre in terms of new energy. Like most traditional car companies, the transformation of red flag cars into new energy is also a mixture of pure electricity and gas-electricity. In terms of pure electric models, Hongqi has launched three pure electric models: E-HS3, E-HS9 and E-QM5. In the first 11 months of 2022, E-HS9 sold only 2541 vehicles and E-QM5 sold 25552 vehicles.

According to the plan, by 2025, Hongqi's total sales will be 1 million, of which 400000 are new energy vehicles, accounting for more than 40 per cent of sales. However, compared with BYD, which has already ALL IN new energy, Red Flag is more dependent on fuel cars and dare not let go easily.

Although Red Flag has been spun off from FAW, there are still some deficiencies in management, product innovation and marketing. In addition, innovation in technology and research and development is naturally somewhat difficult, while consumers' perception of car brands is changing, with more pragmatic and cost-effective car purchases in the first place.

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