PONTEDERA, Italy: Foton Motor and Piaggio Group join hands in developing a new four-wheel light-duty commercial vehicle (4WLCV) product from Italy. An agreement to this effect was signed by the Vice President of Foton Motor Group and CEO of Foton International, Chang Rui, and the Chairman and CEO of Piaggio & C. S.p.A. (PIA.MI), Roberto Colaninno.
The agreement symbolises the completion of a project feasibility analysis and official entry into implementation of product development by both parties. The 4WLCV development project with Piaggio Group is not only a strategic solution of Foton's global diversification but also demonstrates the Chinese company’s resolution for the expansion of European market.
Piaggio Group claims to be the largest motorcycle manufacturer in Europe, with the production and sales volume of two-wheel motorcycles ranking first in the European market. It is expanding rapidly in the field of three and four-wheel light-duty commercial vehicles. Foton Motor is engaged in the operations of whole-series commercial vehicles — including medium-duty and heavy-duty trucks, light-duty trucks, VANs, pickups, and buses. The company has established joint ventures with world-leading manufacturers, including Daimler, Cummins, and ZF.
The cooperation is an important milestone for the joint expansion of the European auto market for both parties. The 4WLCV for the European market is based on the present mini-truck product platform of Foton Motor. Looking forward the two parties will develop new electric vehicles with intelligent interconnectivity system and plan to enter the Middle East, Southeast Asia, Central and South America, and Africa markets.