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On March 1, Hongqi Mingshi 04 officially went public. FAW Car related sources, FAW is developing a new national flag red flag new product, has a specific timetable for the listing, red flag brand new product will be invested in 1.8 million yuan in the FAW car to build a new base production. It is reported that FAW Car's new base has a total investment of 1.8 billion yuan, covers an area of ​​approximately 1.33 million square meters, and the first-phase construction project is expected to reach 880,000 square meters. It is planned to produce an annual output of 100,000 vehicles and eventually achieve a production capacity of 300,000 vehicles. Some production lines will be ready for use in June this year. Painting and stamping will be put into use in 2005. In the planning of the new base, a science and technology research and development center has also been set up. FAW Car also revealed that the development of the new generation of red flag products has long been underway in secret. The new products will adopt a combination of independent development and international cooperation. Xinhongqi is a product with its own brand and unique Chinese characteristics. The body technology was independently developed by FAW Car. The interior design was joint design. The international procurement section will cooperate with a famous Italian company. The company has successfully cooperated with many projects in China.