In an effort to exploit nostalgia for China’s communist and colonialist past, two Chinese state companies have relaunched old brands – including Chairman Mao’s famous Red Flag limousine – to challenge foreign dominance of the country’s luxury markets.
China’s evocatively named First Auto Works (FAW) announced this week it would spend Rmb1.79bn ($263.3m) to re-raise the Red Flag brand, which has largely fallen into disuse along with the ideology that spawned it.
The money would fund a production facility with an annual capacity 30,000 units, to give FAW the ultra-luxury model it needs to boost profits and prestige.
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