FAW sets up center for electric vehicle R&D
FAW Group recently set up an R&D department to develop electric vehicles (EV) after receiving 720 million yuan under the State-sponsored "863 Program" to develop batteries, electric motors and electric control system.
In addition to the new EV department, FAW Group also has R&D divisions for commercial vehicles, buses, minivans and sedans.
According to the company, its R&D budget this year will reach 2.4 billion yuan, a 25 percent increase over last year.
FAW plans to roll out 26 all-new and revamped models and start volume production of pure electric cars and power trains by 2012.
