Once setting the standard for luxury travel, Hongqi is seeking to stage a big comeback

Hongqi, China's oldest luxury car marque once famous for its state limousines and parade cars, is planning to stage an ambitious comeback.

The goal of Hongqi, which literally means red flag, is to become the No 1 auto brand in China and a renowned brand worldwide, said Xu Liuping, chairman of Hongqi's parent company FAW Group Corp, when he unveiled the brand's plan last week.

"To realize the goal, Hongqi will strive to have annual sales of 100,000 units by 2020, 300,000 units by 2025 and 500,000 units by 2035," Xu said.

To accompany this new goal is a brand new logo, which Hongqi said is inspired by a flying red fl ag, as well as an ambitious product plan utilizing its global research and development system.

Xu said Hongqi will launch 17 brand-new cars by 2025. Currently it only sells the L5, which costs over 5 million yuan ($766,550), and H7 sedans.

FAW Group will "mobilize the best resources, select the best suppliers and build top-class manufacturing facilities for Hongqi," the automaker said in a statement.

China's oldest passenger car marque also plans to ride the tide in popularity generated by new energy vehicles, a segment that is growing fast in China.

Hongqi said it will release its first electric car this year.

It is also building a bespoke electric car platform. Models built on the platform are expected to have a range of up to 600 km on one charge when they hit the market in 2020. By 2025, Hongqi will have 15 models of electric vehicle available on the market.

Another highlight of the brand's strategy will be autonomous driving.

Mass-produced models with eyes-of functions will roll of the assembly line in 2019 and fully-autonomous cars will drive into the market around 2025, according to the marque.

Hongqi has been working to build a sales network of 100 experience centers and 300 dealerships around the country to better serve its customers.

The marque said it will also provide what it calls "extreme" customer service.

"All Hongqi cars will enjoy life-long after-sales service free of charge," Xu said.

In the future, the brand has pledged to offer customers high quality mobility and living experiences by building smart mobility circles, green and smart towns.