Jose Altoveros / Foton Motor Group | May 25, 2018 16:32
Foton Motors and Piaggio will develop new light commercial vehicles for Europe
As early as 2016, Foton Motor Group and Piaggio Group have already signed a memorandum of understanding and a framework agreement to jointly develop new light-duty commercial vehicles. Recently, the automobile and motorcyle manufacturer have signed the final contract, and officially entered the implementation stage of new product development.
The cooperation between Foton and Piaggio would allow the two manufacturers to further expand in the European auto market. Piaggio will be able to take advantage of the existing technologies Foton has with their commercial vehicles in order to expand their brand further in Europe.
With regards to the upcoming range of four-wheel light-duty commercial vehicles for the European market, they will be based off the current Foton mini-truck platform being used all over the world today. In the future, the two parties will also develop new electric vehicles with intelligent interconnectivity system. These EVs will the be used to enter new markets such as the Middle East, Southeast Asia, Central and South America, and Africa. It was not mentioned whether the upcoming light commercial vehicles will also be exported outside of Europe.
Piaggio Group is currently one of the largest motorcycle manufacturers in Europe. In more recent time however, they have also began venturing into the market of three-and four-wheel light commercial vehicles. In fact, they managed to sell over 150,000 units of commercials vehicles alone back in 2017.
Foton's new collaboration with Piaggio will further strengthen the brand's globalization stragety by being able to enter the European market. It is also said to be a leap towards intellectual property technology output advocated by 'Made-in-China 2025.'