Foton Motor and motorcycle leader Piaggio Group partner on development of light commercial vehicles; EVs to come
Foton Motor and Piaggio Group signed the agreement for a joint development project for new light-duty commercial vehicle products in Italy.
Since 2016, Foton Motor and Piaggio Group have signed a Memorandum of Understanding and a Framework Agreement in succession. The final signing of this agreement symbolizes that the two parties have sufficiently completed the project feasibility analysis and officially entered the implementation stage of new product development.
The new four-wheel light-duty commercial vehicle products for the European market are based on the present mini-truck product platform of Foton Motor, inherit the advantages of Foton Motor’s mini-trucks in terms of product quality, driving/riding comfort, and fuel-economy.
Foton Gratour-T mini truck.
In the future, the two parties will, “at an appropriate time”, develop new electric vehicles with intelligent interconnectivity system and, as appropriate, enter the Middle East, Southeast Asia, Central and South America, and Africa markets.
The European market is an important sector for the global development of Foton Motor. The new product development project with Piaggio Group this time is not only a strategic solution of Foton’s global diversification but also demonstrates Foton’s resolution for the expansion of European market.
Piaggio Group is the largest motorcycle manufacturer in Europe, with the production and sales volume of two-wheel motorcycles ranking first in the European market, and it is expanding rapidly in the field of three and four-wheel light-duty commercial vehicles. In 2017, its global sales volume of commercial vehicles hit 176,800 units.
As China’s first commercial vehicle manufacturer, Foton Motor is engaged in the operations of whole-series commercial vehicles, including medium-duty and heavy-duty trucks, light-duty trucks, VANs, pickups, and buses. Foton Motor has established joint ventures with world-leading manufacturers, including Daimler, Cummins, and ZF, and has more than 1,000 sales and service networks for coverage of 110 countries and regions worldwide.
Foton Motor presently is integrating information technology and manufacturing technology and aiming to realize intelligent products, intelligent plants, and intelligent management.
The cooperation between Foton and Piaggio Group this time is an important milestone for the joint expansion of the European auto market for the two parties. By taking this opportunity, Piaggio Group will realize the upgrade of commercial vehicle products in the European market and at the same time play an active role in its expansion of market business and consolidation of market position.