Beiqi Foton Motor Co., Ltd. announced a few days ago that it plans to invest 2.18 billion yuan for the technological transformation of medium and heavy trucks, increase production capacity, and develop pickup and mid-size SUV products.
Foton Motor announced on November 14 that the relevant resolution had passed the voting on the company's board of directors. Among them, an investment of 682 million yuan was for medium and heavy truck upgrading (H4) projects; an investment of 1.188 billion yuan was for South China Sea planning and heavy truck capacity expansion projects. Futian Company believes that through the construction of the above two projects, it is possible to realize the upgrading of medium and heavy truck products and the expansion of production capacity, which is of great significance to the company's business development. In addition, Foton will also invest 311 million yuan in the development of new pickups and medium SUV (P/U201) projects.
On August 7th this year, Foton Motors and Daimler signed a letter of intent in Beijing. According to the letter of intent for cooperation, both parties plan to establish a joint venture company for the production of medium- and heavy-duty trucks in China, and may extend the cooperation area to passenger car products. However, the projects mentioned in this announcement do not involve planned joint ventures.
View related topics: Beiqi Futian, Futian Automobile brand value of 22.157 billion yuan
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