Foton launches 2nd-phase new-energy bus project

Shanghai, September 2 (Gasgoo.com) In the run-up to its 12th anniversary celebration, Beiqi Foton Motor has completed the second phase of its new-energy bus project and announced the facility was officially put into operation on August 28, reported Beijing Business Today.

Foton is scheduled to produce 5,000 large and medium buses by 2010, gaining sales revenue of 2 billion yuan with 80 million yuan profit. The company aims to take 4.5% market share and targets the list of top 6 carmakers in China, Foton executives told reporters. As for products, Foton will shift to full-loaded lineup from semi-integral vehicles, poised to build high-end brand models from middle-end brand vehicles.

As the first enterprise which gets hybrid products mass-produced in the domestic market, Foton has delivered 30 Foton Eu-V hybrid buses into operation in Guangzhou earlier this year. The success in the Guangzhou market soon increased demand for the Eu-V hybrid bus.

Foton plans to sell over 500 hybrid buses and develop an annual capacity of 1,500 hybrid buses by 2012, said Liu Guoqiang, vice general manager of Foton Eu-V bus. The launch of the second phase Eu-V bus project has opened a new chapter in Foton’s new energy-vehicle mass-production.