Beiqi Foton to build truck plant in India
October 27, 2011 Category Automotive, Automotive Metals & Minerals
China’s leading truck maker Beiqi Foton Motor Co announced that it will invest CNY2.47 billion in a plant in India to meet increasing demand. The company’s board of directors has approved its plan to set up Foton Motors Manufacturing India in the state of Maharashtra with a registered capital of about CNY626 million. The new plant, scheduled to begin operation in the middle of 2013, will have an initial annual output of 96,000 vehicles that will later be increased to 120,000 units. Currently the Indian medium and heavy-duty truck market is dominated by Tata Motors with nearly a 70% share. The rest is shared by fewer than 10 manufacturers including Navistar and Mahindra. Analysts said that it will be a challenge for Chinese manufacturers to break through, although opportunities do exist and Foton could be a strong competitor to Tata in terms of product quality. Beijing-based Foton sold 680,000 vehicles in 2010, up 68% from a year earlier. In addition to India, Foton also has plans to build plants in Russia, Brazil, Mexico and Indonesia before 2015.
- KURT VANDEPUTTE (UMICORE) APPOINTED CHAIRMAN OF THE BOARD OF THE FLANDERS-CHINA CHAMBER OF COMMERCE (FCCC)
- Webinar: “Knowing Your Chinese Partner” – May 26, 2021, 10 am – 12 am
- EMA starts rolling review of CoronaVac, WHO approves Sinopharm vaccine for emergency use
- The Global Times warns not to politicize the Comprehensive Agreement on Investment (CAI)
- Hainan to become biggest duty-free market in the world