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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 Mazdas 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 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 150000 whole vehicles per year