Foton to Spend $300 Million Building Factory in India
www.chinatrucks.com: Memorandum has been signed between Foton and the India local government in Dec. 2012 to invest $ 300 million in the construction of commercial vehicle factory in India within the following 5 years.
Sugato Sen, vice-chairman of Society of Indian Automobile Manufacturers (SIAM), revealed that Foton was to build a commercial vehicle factory in India. The move represented the huge business opportunity in the Indian market for Chinese manufactures.
The memorandum of understanding has been signed between Foton and Maharashtra government. A factory with 16.7 billion INR investments will be built within the next 5 years to manufacture heavy-duty trucks and passenger vehicles.
Besides Foton, Great Wall Auto also has the plan to enter the Indian market. The two Chinese manufacturers are on their way to independent expansion, which means doing business through wholly-owned subsidiaries.
Views:0
- Foton eVIEW GRAND Makes Global Debut at Saudi Electric Vehicle Expo 2024-09-24
- Madagascar President Rajoelina Visits Foton Motor 2024-09-12
- Foton's Success in Africa Boosts China-Africa Cooperation 2024-09-06
- FOTON AUMAN GALAXY 9 Launched 2024-08-30
- 100 FOTON Medium & Heavy Trucks Were Delivered to Senegal 2024-08-27
- Foton Appoints Inchcape as Its Official Dealer for Australian Market 2024-08-15
- Foton TUNLAND Pickup: A Green Journey from Greece to Paris 2024-08-13
- Foton Launches Full-Size Hybrid Pickup TUNLAND V in Saudi Arabia 2024-07-31
- FOTON Delivers 50 Electric Heavy Trucks to Chile 2024-07-30
- FOTON Shines at FILDA 2024 in Angola 2024-07-26
Submit Your Requirements, We Are Always At Your Service.
- Jiefang Partners with FCTS to Develop Hydrogen-Powered Car Transport Vehicles
- Farizon Auto Sets Roadmap for Global Expansion
- JMC Assembles Kaiyun Euro 5 Models in Vietnam
- SuperPanther Teams up with DHL for Sustainable Logistics
- SuperPanther Partners with Steyr Automotive to Launch Electric Heavy-Duty Trucks
- JAC Showcases T9 EV Pickup at 2024 EVA Frankfurt Electric Vehicle Expo
- Zoomlion Reports Record Overseas Revenue Growth for H1, 2024
- Madagascar President Rajoelina Visits Foton Motor
- European Premiere for Kia PBV at IAA Hannover 2024
- SAIC Maxus RV Debuts at Düsseldorf Caravan Show in Germany
- Heavy Truck Sales Reach 59,000 Units in July in China
- Tractor Sales in H1, 2024 Reached 162,100 Units, Up 4%
- China's Truck Export Reaches 351,076 Units in H1 2024
- XCMG Dominates 2024 with Record Sales in New Energy Heavy Trucks
- Mid-Year Pickup Market Report: JAC Exports Up 13%, JMC Exceed 36,000 Units
- Truck Exports in May 2024: China Exported Close to 65,000 Trucks
- Exports of Pickups Reached 22,892 Units in May
- Exports Surge by 157%! DFAC Exports 9,628 Vehicles from January to May
- China's Heavy Truck Exports Rising 58% YOY to 276,000 Units in 2023
- China Exported 507,000 Trucks from Jan.-Sept., Up 21% YoY
