Al Haj FAW motors launched the first locally assembled Chinese car – a 1,300cc FAW V2 hatchback – a first Chinese passenger car.
The company expects to produce 500 V2 units per month by the end of 2017 with plans to export the right-hand cars to China as well as international markets later on.
The company is ambitious to increase the number of units up to 15, 000 per annum by 2020 and also introduce new models.
The company had been importing the V2 hatchback completely built units since 2014.
The locally assembled Chinese car version would be more affordable than its imported version. The car cost is Rs1,069,000.
The average of V2 in-city is about 15-16 kilometers per litre and its highway average is 18km per litre.
The company has been set up with an official investment of Rs2.5billion.