Foton Launches its Factory Expansion Project in Changsha
With a total investment of 1.5 billion RMB, the expansion project consists of the construction of digitalized production lines with higher intelligence and higher environmental friendliness. After its completion in 2021, the new factory is able to produce 100,000 units vehicles annually with an annual business revenue of 15 billion RMB. It will also generate over 5,000 jobs and boost the upper and lower stream of the auto industry in Changsha.
In the first three quarters, Foton maintained a robust growing momentum despite the anemic market conditions. Its sales volume grew by 2.62% year on year, reaching 389,266 units.