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On Sept. 18, When China’s President Xi Jinping visited India, Foton signed a memorandum with Maharashtra Industrial Development Company. According to the memorandum, Foton and the local government in India will jointly build an Automobile Industrial Park. As Foton’s first independently built overseas automobile factory, the cooperation with India represents a significant milestone for the auto maker and is also a huge step forward while implementing its “2020 Strategy”. Moreover, the cooperative project has furthered Foton’s “5+3+1 Strategy”. Along with the implementation of Foton’s project in India and its “2020 Strategy”, the company will further speed up its globalization step with its headquarters based in Beijing. Aiming at becoming one of the leading commercial vehicle manufacturers, Foton is gradually making its Chinese Dream come true.
Among its “Five” major markets, India enjoys comparatively high political stability. As the most populous country in the world, the nation boasts huge market potential. According to its plan, Foton is first going to build a “demo” project in India. After gaining experience, it will further expand the development mode to its second-tier markets, including Brazil, Indonesia and Mexico.
While building its factory in India, Foton is gradually implementing its “5+3+1 Strategy”, in an effort to speed up its globalization process.