Moscow landing
By Jin Jing |
June 26, 2010, Saturday
|
Print Edition
Print Edition
CHINA'S leading light commercial vehicle maker Beiqi Foton yesterday said it plans to build a new production facility in Moscow, which will be its Europe headquarters.
The cooperation pact was signed yesterday in Moscow. Beiqi Foton said the new plant in Russia will be able to turn out 100,000 units a year, including light commercial vehicles, pickups, vans heavy duty trucks as well as sport-utility vehicles for the European markets.
The latest expansion in Russia is part of its five-year plan. By 2015, the car maker plans to have factories in five developing countries -- Russia, Brazil, Mexico, India and Thailand. It also aims to enter Europe, North America and Japan while boosting sales of its cars in China.
"We are eying the long-term market potential in Russia," said Wang Jinyu, its general manager.
Foton entered the Russian market in 2005 and by the end of 2008, about 10,000 of its commercial vehicles were exported there.
Besides expanding globally, Beiqi Foton is also developing new-energy vehicles. Total investment on the new-energy vehicles has hit 5 billion yuan (US$736 million) by the end of last year, the company said.
It also produced an annual output of 5,000 new-energy buses and 400,000 units of high efficient engines last year.
The cooperation pact was signed yesterday in Moscow. Beiqi Foton said the new plant in Russia will be able to turn out 100,000 units a year, including light commercial vehicles, pickups, vans heavy duty trucks as well as sport-utility vehicles for the European markets.
The latest expansion in Russia is part of its five-year plan. By 2015, the car maker plans to have factories in five developing countries -- Russia, Brazil, Mexico, India and Thailand. It also aims to enter Europe, North America and Japan while boosting sales of its cars in China.
"We are eying the long-term market potential in Russia," said Wang Jinyu, its general manager.
Foton entered the Russian market in 2005 and by the end of 2008, about 10,000 of its commercial vehicles were exported there.
Besides expanding globally, Beiqi Foton is also developing new-energy vehicles. Total investment on the new-energy vehicles has hit 5 billion yuan (US$736 million) by the end of last year, the company said.
It also produced an annual output of 5,000 new-energy buses and 400,000 units of high efficient engines last year.
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