Piaggio Group and Foton Motor Group partnered for developing new range of LCV
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.
Italy/China- Piaggio & C. S.p.A. (PIA.MI) of Italy signed the technical annexes with Beiqi Foton Motor Co., Ltd of Beijing, a manufacturer of trucks, buses, sport utility vehicles and agricultural machinery for the development and production of a new range of four-wheel light commercial vehicles.
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.
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.
1Piaggio & C. SpA is an Italian motor vehicle manufacturer established in 1884, which manufactures a range of two wheeled motor vehicles and compact commercial vehicles under seven brands: Piaggio, Vespa, Gilera, Aprilia, Moto Guzzi, Derbi, and Scarabeo. Its corporate headquarters are located in Pontedera, Italy. In 2017, the Piaggio Group sold 552,800 vehicles worldwide, an increase of 3.9% from 532,700 in 2016.
2Foton Motor Group is the commercial vehicle manufacturer in China with a total turnover of around 51.7 billion CNY (in 2017) and about 40,000 employees worldwide. It is headquartered in Changping, Beijing and is a subsidiary of BAIC Group. With a business scope covering a full series of commercial vehicles including medium and heavy-duty trucks, light-duty trucks, vans, pickups buses, and construction machinery vehicle and an accumulative production and sales volume of approximate 8000,000 vehicles. Foton has established over 70 representative offices, and over 1,000 overseas distributors around the world. Its products and services had extend to over 110 countries all over the world. With sales and service networks across more than 110 countries, Foton Motor has set up national sales companies in nine countries such as Russia, Thailand, Australia and Brazil.
