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Beijing-based Beiqi Foton Motor Co, Ltd and Cummins Inc. jointly set up the new company Beijing Foton Cummins Engine Company Limited (BFCEC for short as below). BFCEC is expected to manufacture more than 400,000 engines a year. Cummins Inc. is very focused on Chinese market. Mr. Wang Hongjie, vice president of Cummins (China) Investment Company Ltd, says China is one of the most important markets, besides the North American market, and also the fastest-developing market. China is the core market to the American company"s development strategies.
Foton-Cummins New Engine
According to the BFCEC"s plan, 200,000 engines will be produced from its current Foton production line. The rest part will be directly produced gasoline engine line. Currently, BFCEC starts to receive related orders.
Beiqi Foton Motor Co, Ltd predicts that its vehicle sales will reach 800,000 to 1 million units a year by 2010. Among them, 20 percent vehicles will be exported to overseas market.
Beiqi FOTON Motor Co. Ltd, a state controlling listed company, with the headquarter located in Beijing, has assets of over 8 billion Yuan and a staff of more than 23 thousand. Taking Beijing as the management center, the company has the entire vehicle and components and parts production bases in Beijing, Tianjin and Shandong, also has R&D institutions in Japan and Europe, being the largest commercial vehicle corporation complete varieties in China.