China's FAW to sell more than 2 million vehicles a year by 2010

China's First Automobile Works (FAW) Group aims to sell over 2 million vehicles a year by 2010.

If this target is reached, sales revenue in 2010 will exceed 200 billion yuan. Over 1 million of the vehicles sold will be designed and produced locally.

The principles of development for the Eleventh Five-Year Plan are self-development and cooperation.

FAW also established five development strategies of its own for this period: innovation in products and skills, increasing exports of cars (as oppose to car parts), developing products with high added value by improving research, overseas expansion and digital management.

By People's Daily Online