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FAW signed up Russian distributor Queen Group

Jun. 14, 2012 (China Knowledge) – FAW Group, one of the top three automakers in China and the parent company of FAW Car Co Ltd<000800>, announced that it had inked an agreement with Russia's car distributor Queen Group to export 33,000 vehicles in the next three years.

According to the agreement, the Chinese automaker will deliver 500 vehicles of Pentium B50 passenger cars with 1.6 liters petrol engine this month.

The deal becomes the automaker's largest export order since it established in 1997, and marks the beginning of its overseas export strategy.

Last month, FAW Group saw its auto sales surged 32.8% YoY to 236,000 units leading its total sales to 1.12 million units in the first five month of this year, up 7.1% than a year earlier, China Knowledge reported earlier.

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