Latest news with #BeiqiFotonMotorCompany
Yahoo
a day ago
- Automotive
- Yahoo
Foton to build truck plant in Saudi Arabia
Beiqi Foton Motor Company is looking to produce commercial vehicles in Saudi Arabia in partnership with its local distributor, Petromin Corporation, as the Chinese truck-maker continues to expand its presence in markets across the Middle East and Africa. Foton, part of the Chinese state-owned BAIC Group, has signed a memorandum of understanding (MoU) with its local distributor Petromin, the Saudi Ministry of Investment, and the National Industrial Development Center, to explore opportunities to establish a local commercial vehicle manufacturing plant as part of the kingdom's Vision 2030 industrial transformation strategy. The partners are looking at opportunities to produce a wide range of commercial vehicles, including light, medium and heavy trucks and buses, and to establish a local supply chain. The facility will aim to supply markets across the region. His Excellency Sheikh Abdullah Al-Dabbagh, chairman and CEO of Al-Dabbagh Group – the parent company of Petromin, said in a statement: 'This step aligns with our ambitions to promote a diversified economy based on industry and technology. We take pride in this partnership with Foton, which is number 1 in the Chinese commercial vehicle market. This partnership acts as a strong catalyst to deliver high-quality commercial vehicles that meet market expectations and support the achievement of Vision 2030 objectives.' Mr. Chang Rui, Chairman of BAIC Foton, added, 'We are proud of our partnership with Petromin to localize commercial vehicle manufacturing. Through this collaboration, we aim to transfer advanced technology to the Saudi market and provide innovative and sustainable mobility solutions benefiting businesses and consumers alike.' "Foton to build truck plant in Saudi Arabia" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
30-05-2025
- Automotive
- Yahoo
Foton, Eve Energy in battery leasing JV for electric trucks
Chinese state-owned commercial vehicle manufacturer Beiqi Foton Motor Company (Foton) has announced it has agreed to establish a joint venture with Eve Energy Company, a local battery manufacturer, to lease batteries for electric-powered trucks. The joint venture will have a registered capital of CNY 500 million (US$ 70 million), with each partner investing in an equal stake. The new company is expected to offer various battery leasing options to Foton's customers, to help boost sales of battery-powered trucks in the local market. The joint venture aims to help reduce the initial purchase cost of Foton electric trucks by offering a separate leasing programme for the batteries, which typically account for a significant proportion of the overall cost of an electric vehicle. Foton hopes that the joint venture will increase the competitiveness of its battery electric vehicles (BEVs). The two companies have yet to confirm the name of the joint venture, as it awaits approval from the Chinese authorities. Foton recently signed a partnership agreement with Huawei Digital Power Technologies Company to collaborate on the development of advanced electrification technologies for battery-powered trucks and to establish an ultra-fast recharging network. "Foton, Eve Energy in battery leasing JV for electric trucks" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
20-02-2025
- Automotive
- Yahoo
Foton, Teld in heavy truck charging partnership
Chinese commercial vehicle manufacturer Beiqi Foton Motor Company has signed an agreement with local electric vehicle (EV) charging company Teld New Energy Company to establish a joint venture focused on establishing and operating a network of charging stations for heavy-duty trucks across China. The new company will also engage in selling heavy-duty truck charging piles in overseas markets. The new joint venture aims to have 25 charging stations in place in strategic locations across China by the end of 2025, focusing initially on Shanxi and Hebei provinces. It plans to use Foton's V2X platform and Teld's charging platform to collect and process data from charging operations using AI-driven analytics, with the aim of generating real-time battery diagnostics to help provide aftermarket services for new energy commercial vehicles. Foton said the partnership will accelerate its transition to a "Vehicle + Energy Services 2.0" business model, which it expects will help it strengthen its commercial vehicle electrification process. Foton already has a broad range of electrified commercial vehicles, including battery, hybrid and hydrogen fuel cell powered vehicles. "Foton, Teld in heavy truck charging partnership" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
