FAW Jiefang plans global expansion with new subsidiaries

FAW Jiefang Group (SZSE:000800) announced its plans to establish wholly-owned subsidiaries in Uzbekistan, Indonesia, Vietnam, Saudi Arabia, Mexico, and three other unspecified countries. The decision was made during the 27th meeting of the company's 10th Board of Directors, with all attending directors voting in favor. The total investment earmarked for this global expansion is CNY498 million. The company aims to enhance its international capabilities and boost overseas sales.