On July 1st, FAW trucks held the 27th meeting of the 10th Board of Directors, at which the “Proposal on Establishing New Overseas Subsidiaries” was reviewed and approved. To fully implement FAW trucks’ overseas industrial strategic planning and accelerate overseas localized operations, FAW trucks plans to invest in and establish wholly-owned subsidiaries in 8 countries including Uzbekistan, Indonesia, Vietnam, Saudi Arabia, and Mexico, with a total investment of 498 million yuan.
This layout is a strong promotion of FAW trucks’ “SPRINT 2030” international strategy, aiming to accelerate the building of international capabilities and provide strong support for breakthroughs in overseas sales.
Since the release of the “SPRINT 2030” international strategy in December 2024, FAW trucks has continuously deepened its global layout. Achievements such as the establishment of FAW trucks Group International Automobile Co., Ltd., the completion of the acquisition of FAW Africa Investment Co., Ltd. and Jiefang Automobile (Tanzania) Co., Ltd., the reaching of an over-1,000-unit cooperation agreement with Indonesia’s GMM company, and the signing of a cooperation memorandum with South Korean partners are all powerful testimonies to FAW trucks’ expansion in the international market. The establishment of overseas subsidiaries in these 8 countries marks that FAW trucks is increasing its investment in overseas markets again, and its international journey has entered a new stage. By focusing on high-potential markets, it will continue to empower overseas businesses through forward-looking layout and localized deep cultivation.
Looking to the future, FAW trucks will fully implement six international strategic measures: “global layout, multi-brand operation, technology leadership, business innovation, co-construction and win-win, and people-oriented”, and continue to promote global layout. With the steady advancement of the plan to establish wholly-owned subsidiaries in 8 countries, FAW trucks will stride forward in the wave of globalization with firm steps, steadily moving towards the strategic goal of “No. 1 in China, world-class”.
