FAW launches Oley brand to attract China's young consumers
China FAW Group Corp. unveiled a new brand for small cars last week in the south China city of Guangzhou to attract young consumers and enrich its product lineup.
The new brand, Oley, features sporty and stylish small cars. The cars will be built at the No. 2 plant of FAW Car Co. in Changchun. FAW Car is the car unit of the state-owned FAW Group.
The first Oley-badged model will be launched next March with a price of 80,000 to 100,000 yuan ($12,500 to $15,700), according to FAW Group.
Additional details about the car have not been released.
FAW, which is headquartered in the northeast China city of Changchun, makes trucks, buses and cars.
The company already markets the Xiali and Besturn car brands. The the Xiali brand features compact cars selling for less than 77,000 yuan, while the Besturn line features compact and mid-sized sedans with a starting price above 93,800 yuan.
In the first ten months of the year, FAW sold 209,265 Xiali cars and 95,800 Besturn sedans.
FAW also has joint ventures to produce passenger vehicles with Toyota Motor Corp. and Volkswagen AG, and it produces light commercial vehicles in a joint venture with General Motors.
