Foton to Build Five Wholly Owned Factories Upgrading Overseas Bases
2014-03-27 Source：www.chinabuses.org
Summarize：As the largest commercial vehicle production and sales company, Foton has been at the forefront in the global layout. According Foton's plans, its global sales will exceed 4 million, 30% of which will be overseas. It is reported that up to now, Foton has established more than twenty assembly plants overseas, and with export sales increasing dramatically, the new overseas factories will also be "upgraded". Foton's deputy party secretary Zhao Jingguang recently said in an interview, "In the past, the plants we built overseas were joint ventures only for assembly. Now, we plan to build wholly owned automobile factories for complete vehicles. The plan will be carried out in five countries, among which India will start construction this year. "
www.chinabuses.org：As the largest commercial vehicle production and sales company, Foton has been at the forefront in the global layout. According Foton's plans, its global sales will exceed 4 million, 30% of which will be overseas. It is reported that up to now, Foton has established more than twenty assembly plants overseas, and with export sales increasing dramatically, the new overseas factories will also be "upgraded". Foton's deputy party secretary Zhao Jingguang recently said in an interview, "In the past, the plants we built overseas were joint ventures only for assembly. Now, we plan to build wholly owned automobile factories for complete vehicles. The plan will be carried out in five countries, among which India will start construction this year. "
In recent years, the overseas expansion of Foton is fruitful. 2012 has been overseas export sales of over 40,000. According to Foton's 5 +3 +1 strategic plan, overseas wholely-owned vehicle factories will be built in five countries, namely, India, Russia, Brazil, Mexico and Indonesia, to further expand overseas markets. "Indian plant will start construction this year and Russia has already signed a letter of intent that the plant will start construction next year."
Commercial vehicles and multi-purpose vehicles are Foton's main products for now. The commercial vehicles include trucks like Auman, Aumark and Aoling, pickups like Sapp, Tuo Lu Zhe and a large-medium bus AUV. Its multi-purpose vehicles include Meng Pai Ke, Feng Jing and Midi. Foton's existing products are all targeted at the overseas market except Midi, a small MPV targeted at the domestic market.
Foton's sales are targeted at 750,000 this year, and 13% increase compared with last year's 660,000. In recent years, the demand of domestic commercial vehicle market has been increasing quite slowly, which means the overseas market will be crucial for Foton to accomplish this sales goal.
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