FAW Haima Automobile Co., Ltd., trading as Haima, is a Chinese automotive manufacturing company based in Haikou, Hainan and a subsidiary of FAW Group. Its principal activity is production of passenger cars for other companies. Haima was founded in 1992 as a joint venture between the Hainan provincial government and Mazda to produce Mazda models for sale in China. In 2006, FAW acquired one share of the venture, although many Haima models still incorporate Mazda technology. As of 2012 Haima had an annual production capacity of approximately 400,000 vehicles. A total of 157,242 Haima passenger cars were sold in China in 2013, making it the 28th largest-selling car brand in the country in that year (and the 12th largest-selling Chinese brand). On July 2021, FAW transfered 49% of the shares of FAW Haima to Hainan Development Holdings Co., Ltd. (Hainan Holdings) at no charge. Haima Automobile holds 51% of the shares in FAW Haima, while Hainan Holdings hold 49% of the shares. Name The name "Haima" is a contraction of "Hainan Mazda". History The company was founded in January 1992 as Hainan Mazda Motor, a joint venture between the Hainan provincial government and Mazda to produce Mazda models for sale in China. The joint venture arrangement lasted until 2006, when Mazda's share of Hainan Mazda was acquired by FAW Group, and the company became a subsidiary of FAW. While Haima retained the right to make and sell older Mazda models as well as use Mazda technology to underpin self-designed products, it was prohibited from using the Mazda marque. This doesn't necessarily mean Haima has completely severed ties to its erstwhile partner, as technology transfers may continue. In August 2008 Haima began construction of a third assembly plant in Hainan, with a capacity to build of 100,000 units per year. Its other two plants are likely located in Haikou, Hainan, and the city of Zhengzhou; both have production capacities of 150,000 whole vehicles per year. In April 2009 Reuters reported that the company's partnership with Mazda, by then ended, had been established "to receive technological help" and that Haima was selling a car that seemed similar one of Mazda's offerings without consent. In November 2010 a plant for the assembly of knock-down kits of the Haima 3 was opened in Cherkessk, Russia by Derways Automobile Company. Announced in December 2016 that Haima to build a manufacturing plant in Bulgaria starting 2018.