Foton and Italian Piaggio Group Compeletes Final Step in Partnership for LCV
Foton Motor Group CEO, Mr. Gong Yueqiong, confirmed that the collaboration agreement draws on the specific characteristics of the two international industrial groups and strengthens the commercial and industrial relationship already in place between Italy and China, adding that he hoped other cooperation ties would be developed with particular focus on the African markets.
The completion of the final contract step and the coming into effect of the partnership between the Piaggio Group and Foton Motor Group will launch the investment process required to produce the new range of light commercial vehicles.
All the operations will be located in the Piaggio Group plants in Pontedera and the relevant products will be launched on the market as from 2020.
In 2017 the Piaggio Group shipped 176,800 commercial vehicles worldwide, confirming its position as a player of significant importance on the market for 3- and 4-wheel light commercial vehicles for the transportation of passengers and goods.
Foton Motor Group is the biggest commercial vehicle manufacturer in China with a total turnover of around 51.7 billion CNY (in 2017) and about 40,000 employees worldwide; it offers a complete range of products with high added technological value, and is achieving rapid growth and diversifying its international operations. (www.chinatrucks.com)
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