The new H7 is the first car among a planned new model range to revive the historically prestigious Hongqi marque.
The H7 is based off the Toyota Crown and is powered by a FAW-developed 2.0L turbo or two Toyota six-cylinder engines. The FAW four-cylinder is reportedly mated to a seven-speed dual-clutch auto. Pricing will be close to cars such as the BMW 5-Series, Volvo S80, and Audi A6.
Hongqi will also soon debut a car based off the licensed chassis of the C6 Audi A6.
Hongqi means red flag.
Here is an article on some of Hongqi's history: