FAW sets up EV R&D center

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FAW sets up EV R&D center

Source: Global Times
[15:02 January 25 2011]
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FAW has set up a R&D center for electric vehicle development with the support of national fund. The department is now the company's sixth in overall-car development.

"The Electric Vehicle Department will target the development of pure electric vehicles," said Wang Yanxin, secretary of the party committee of the tech center at FAW.

The carmaker started heavy R&D investments after it set a goal to produce over 2 million independently developed vehicles. According to an employee at the tech center, the R&D budget this year is of 2.4 billion yuan ($364 million), 25 percent higher than last year's 1.9 billion yuan ($288 million).

FAW also received a state fund of 720 million yuan ($109.359 million) to help develop electric vehicles. The company aims to realize volume production of pure electric cars and a power assembly system of EVs.

Its other five departments are heavy and medium vehicle department, passenger car department, light-duty vehicle department, micro vehicle department, and sedan department.