Foton and Cummins
In March 2008, China’ s largest engine manufacturer Beijing Foton Cummins Engine Co., Ltd. ( BFCEC) was established with a joint investment of 2.7 billion yuan and an annual production capacity of 400, 000 units. ISF3.8L and ISF2.8Ll engines manufactured by BFCEC were up to international leading standards. BFCEC’ s establishment marks a major breakthrough in Foton’ s globalization.
On June 9, 2009, “ Global Engine, World Power” -- BFCEC’ s production ceremony for 400, 000 engines was held in Beijing. The mass production of ISF3.8L engines will boost Foton’ s globalization, marking a milestone in Foton’ s globalization process.
Foton and Daimler
On January 29, 2009, Foton and Daimler AG concluded an agreement on commercial vehicle cooperation in Berlin, Germany. Chinese Premier Wen Jiabao and German Chancellor Angela Merker attended the signing ceremony. Under the agreement, the two parties will establish a medium & heavy-duty truck joint venture with a shareholding proportion of 50 to 50, which will provide medium & heavy-duty trucks and relevant technologies and services, and will explore to expand the brand and sales of Foton Auman around the world.
On February 18, 2012 Daimler AG and Beijing Foton Daimler Automotive Co., Ltd. ( Daimler) and Beiqi Foton Motor Co., Ltd. ( Foton) held the “ Conference on Establishment of Beijing Foton Daimler Automotive Co., Ltd.” in Beijing to celebrate the conclusion of the joint venture negotiation. The first meeting of the board of directors of the joint venture was staged concurrently.
Beijing Foton Daimler Automotive Co., Ltd. ( joint venture) was established with a total investment of 6.35 billion yuan and a registered capital of 5.6 billion yuan, of which Foton and Daimler hold a 50% share each.
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