FAW (First Automotive Works) Group, which manufactured the first Chinese truck in 1956 and car in 1958. The automaker's factories and associated housing and services occupy a substantial portion of the city's southwest end. Specific brands produced in Changchun include the Red Flag luxury brand, as well as joint ventures with Audi, Volkswagen, and Toyota. In 2012, FAW sold 2.65 million units of auto. The sales revenue of FAW amounted to RMB 408.46 billion, representing a rise of 10.8% on year. As cradle of the auto industry, one of Changchun's better known nicknames is "China's Detroit". Manufacturing of transportation facilities and machinery is also among Changchun's main industries. 50 percent of China's passenger trains, and 10 percent of tractors are produced in Changchun. Changchun Railway Vehicles, one of the main branches of China CNR Corporation, has a joint venture established with Bombardier Transportation to build Movia metro cars for the Guangzhou Metro and Shanghai Metro, and the Tianjin Metro. Foreign direct investment in the city was US$3.68 billion in 2012, up 19.6% year on year. In 2004 Coca-Cola set up a bottling plant in the city's ETDZ with an investment of US$20 million. Changchun hosts the yearly Changchun International Automobile Fair, Changchun Film Festival, Changchun Agricultural Fair, Education Exhibition and the Sculpture Exhibition. CRRC manufactures most of its bullet train carriages at its factory in Changchun. In November 2016, CRCC Changchun unveiled the first bullet train carriages in the world with sleeper berths, thus extending their use for overnight passages across China. They would be capable of running in ultra low temperature environments. Nicknamed Panda, the new bullet trains are capable of running at 250 km/h, operate at −40 degrees Celsius, have Wi-Fi hubs and contain sleeper berths that fold into seats during the day. Other large companies in Changchun include: Yatai Group, established in 1993 and listed on the Shanghai Stock Exchange in 1995. It has developed into a major conglomerate involved in a wide range of industries including property development, cement manufacturing, securities, coal mining, pharmaceuticals and trading. Jilin Grain Group, a major processor of grains. Development zones Changchun Automotive Economic Trade and Development Zone Founded in 1993, the Changchun Automotive Trade Center was re-established as the Changchun Automotive Economic Trade and Development Zone in 1996. The development zone is situated in the southwest of the city and is adjacent to the China First Automobile Works Group Corporation