The company is also responding to the great changes in the automotive industry with its "Future Brose" program, which will change the structure of the company by 2023.
The company will develop more high-end NEVs for Chinese customers in the future, said Liu Yigong, general manager of FAW-Volkswagen.
The company said the performance has been driven by improving trends in away-from-home channels, which make up about half of its revenue, along with sustained, elevated sales in at-home channels.
The company pays attention to localization in China. It partners with the local governments and works with manufacturers in their geographies to localize its solutions at their plants.
The company's premium income increased by 11.9 percent year-on-year to 272.4 billion yuan during the period.
The company said that with the cooperation of the Italian Government Tourist Board in China, the smartphone produced by the Sugar brand will act as a convenient and "exclusive interpreter" for Chinese tourists taking in the unique charms of the ancient European country.
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The company now has 26 offices in 10 cities across the United States. It has 22 weekly liner services calling 12 major US ports, connecting the Far East and Europe's Mediterranean ports.
The company was ranked 263rd in the newly published 2019 Fortune Global 500, having made the list for seven consecutive years.
The company will focus on investing in sensing technologies, including computer vision and radar - technologies that help machines make decisions, such as algorithms or chip-design capabilities. It is also interested in bankrolling makers of 3D printing machines, virtual reality, and service-rendering robots.
The concept car is equipped with Tencent's AI in Car system, allowing drivers better interactions with the vehicles.