Foton Motor aims to sell 1.5 mln vehicles by '15

Shanghai, June 11 (Gasgoo.com) China's biggest commercial-vehicle maker Beiqi Foton Motor, a subsidiary of Beijing Auto, yesterday announced its plan to sell 1.5 million vehicles annually by 2015, Beijing Times reported.

In the first five months of this year, Foton Motor's production and sales both totaled 235,000 vehicles, an 8% rise year-on-year, retaining its lead in sales of China's commercial vehicle sector. Sales of its MP-X model achieved an increase of 50% during the period.

According to its plan, Foton Motor aims to achieve sales of 800,000 to one million vehicles next year, with overseas sales to account for 20% of the total.

Foton Motor, founded in 1996, is the largest producer of the light-duty trucks in China, selling more than 329,000 units in 2008. The light-duty truck sector in China produced 1.17 million units in 2008.

The company has accelerated its pace of going global. This year, Foton Motor has signed a commercial vehicle cooperative agreement with Daimler AG, announcing the establishment of a global research and development (R&D) platform in China.

Beijing Foton Cummins Engine Company Limited, a 50/50 joint venture between U.S-based Cummins Inc. and Beiqi Foton Motor, started operation yesterday, producing Cummins light-duty, high-performance ISF diesel engines mainly for Foton's vehicles.