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Beiqi Foton Motor (18.33, 1.08, 6.26%) Co., Ltd. (600166.SH) today signed a Foton Cummins ISF Series Euro VI engine technology import agreement with Cummins Inc. in Beijing, becoming the first domestic vehicle to enter the European VI vehicle manufacturing industry. enterprise.
The two parties agreed that Foton Motor and Cummins Corporation will jointly develop Omarco and Cinza Universal Parker Euro VI products that will be launched into the global market by the end of 2013.
The cooperation with Cummins is an important part of the Foton 2020 strategy. According to the 10-year plan, by 2020, Foton Motor will have an annual sales volume of 4 million vehicles and an operating income of more than 400 billion yuan.
General Manager of Foton Motor Wang Jinyu introduced to China Business News. The core content of Foton 2020 strategy is “5+3+1â€, which means establishing overseas factories in Mexico, Brazil, India, Russia, Thailand and other five countries; the main products break through North America. Markets in the three most developed regions, such as the European Union and Japan, have taken the opportunity of new energy vehicles to achieve breakthroughs in the passenger vehicle sector.
Foton Motors said that if the 10-year vision [reviewed image forum] can be successfully implemented, the company will enter the top six of the world's automobiles. Last year, Foton Motors has become the world's largest commercial vehicle company. From January to May this year, Foton Motor sold 317,000 vehicles, an increase of 34.6% year-on-year.
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