Head of China's biggest automaker enters politics

Shanghai, December 14, (Gasgoo.com) - Zhu Yanfeng, head of China's biggest automaker FAW Group, has assumed the office of lieutenant governor of northeast China's Jilin Province after 24 years working for FAW. The successor will be announced by the end of this month, state media reported yesterday.

Zhu became general manager of FAW in 1999. During his tenure, FAW acquired Tianjin Xiali Auto Company and set up several joint ventures with global auto giants such as VW, Toyota and Mazda. On the Fortune 500 list of 2007, FAW is ranked 385th with total sales revenues of US$ 18.71 billion. It sold a total of 1.166 million vehicles last year.

In July this year, Zhu announced that FAW will spend 13 billion yuan ($1.76 billion) developing own-branded sedans by 2015 and building 50 car models based on 4 platforms.

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