By Automotive News China
Changchun, China -- China FAW Group Corp. has reached an agreement to deliver 33 000 cars to Russian dealership group Queen Group over the next three years.
It is the largest overseas order that the state-owned Chinese automaker has received, according to FAW. FAW will deliver 500 units of its Besturn B50 compact sedan to the Russian dealership group this month.
The Besturn B50, a 1.6-litre petrol car, will sell for 499 000 to 599 000 roubles (Euro 15 000 to 18 000) in Russia.
FAW is stepping up efforts to boost exports.
In December, FAW's first overseas assembly plant opened in Ethiopia, where it produces Xiali subcompact cars with semi knock-down kits exported from China.
FAW, based in Changchun in northeast China's Jilin province, has joint ventures with Toyota Motor Co. and Volkswagen AG. It also operates a joint venture with General Motors to produce commercial trucks.