Beiqi Foton Motor Co., Ltd. signed a Foton Cummins ISF series Euro VI technology import agreement with Cummins Inc. in Beijing on the 9th, becoming the first domestic automobile company to enter the European and European automotive manufacturing.
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 told reporters that 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 and the European Union. Markets in the three most developed regions such as Japan and Japan; breakthroughs in the field of passenger vehicles with new energy vehicles as opportunities.
Foton Motors said that if the ten-year vision plan can be successfully implemented, the company will enter the top six cars in the world. 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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