Chijet’s Novel Approach to International Expansion
Chijet Motor Company Inc. (NASDAQ: CJET), a major player in the automotive industry, declared the commencement of a new phase in its international marketing strategy through its majority-owned subsidiary, FAW Jilin Automobile Co., Ltd. (“FAW Jilin”). FAW Jilin recently completed its inaugural shipment of automobiles to Peru via its freshly introduced export operation at Tianjin Port, China, signaling the start of its dual-channel export model.
Previously, FAW Jilin depended on its minority shareholder, China FAW Co., Ltd. (“FAW Group”), for global trade activities. However, adjusting to changing market conditions and increased price competition in 2023, FAW Jilin developed its own overseas market and export team in collaboration with FAW Group’s import and export business.
FAW Jilin’s Dual-Channel Export Model: A Strategic Milestone
With FAW Group’s significant backing, FAW Jilin established a unique overseas sales platform, setting up a dual-channel export model. This approach integrates FAW Group’s export network and FAW Jilin’s own export channel. In a recent breakthrough, FAW Jilin’s in-house export operation team secured its debut order from the Peruvian market. Capitalizing on efficient logistics via Tianjin Port, the team successfully fulfilled the shipment in early July 2023.
This landmark shipment validates FAW Jilin’s autonomous export operation, marking the official inauguration of the company’s second overseas marketing channel. It opens up a new chapter for Chijet’s subsidiary, reflecting a broader vision for growth and global expansion.
Chijet Eyes Future Growth Through FAW Jilin’s Achievements
As a vital subsidiary of Chijet, FAW Jilin has made significant strides in recent years, including progress in product research and development, incorporation of innovative technologies, and expansion of domestic and global market presence. The adoption of the dual-channel export model positions FAW Jilin for increased future export orders and enhanced international market prominence, suggesting a promising outlook for Chijet’s global expansion efforts.
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