Foton Sets a Goal to Sell 200,000 New Energy Commercial Vehicles by 2025

November 19,2019

On November 16, Foton held a press conference themed with “Ushering a Brand New Era of New Energy Vehicle, Winning the War Against Environmental Pollution” at Foton Automobile Engineering Research Institute. At the press conference, Foton officially launched Foton New Energy 2025 Strategy, which gives full priority to the development and marketing of electricity powered logistic vehicles for urban areas.
Foton Sets a Goal to Sell 200,000 New Energy Commercial Vehicles by 2025

According to the company, it aims to increase its annual sales volume of new energy commercial vehicles to 200,000 units by 2025 (172,000 units trucks, 22,000 units vans, 5,600 units buses; 1,000 units pickups) and solidify its position as the No.1 brand in China’s new energy commercial vehicle market.

At the press conference, Zhang Xiyong, General Manager of BAIC and president of Foton revealed that the company is confident to increase its annual business revenue to 15 billion RMB and its market share to 30%.

To achieve its goal, Foton will make a total investment of six billion RMB in R&D and testing and 12 billion RMB in building the upper and lower industrial chain and marketing & service networks. In the meantime, it will strengthen its efforts in developing electric vehicles, plug-in hybrid vehicles and fuel cell vehicles to meet the varied needs of its customers across the globe.

So far, Foton has already signed strategic cooperation ties with CATL, Aulton, SinoHytec, BIT Huachuang and Neusoft Reach. Through their concerted efforts, Foton has already made tremendous contributions to the fast and sound development of China’s new energy vehicle industry.

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Editor : Sarah

Tags: Foton 2025 strategy

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