Foton and Iveco Team Up for Overseas New Energy Products

Automotive Author: EqualOcean News Jun 07, 2024 06:10 PM (GMT+8)

On June 4, 2024, Foton(福田汽车) and Iveco(依维柯) signed a memorandum of understanding in Beijing, aiming to jointly explore cooperation in the field of electric vehicles and related components, with the goal of expanding into the European and South American markets. This signing not only recognizes the strong capabilities of Foton's electric vehicles but also signifies another solid step forward in Foton's global strategy.

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As a leading commercial vehicle company in China, Foton has been committed to promoting innovation and development in the automotive industry. In this collaboration, both parties will explore the development of a new generation of environmentally friendly box trucks and commercialize electric box trucks weighing below 3.5 tons in the European and South American markets through Iveco's sales channels. These box trucks are expected to have a positive impact on the regional and local supply chains in Europe and South America.

The Iveco brand under the Iveco is a pioneer in commercial vehicles, focusing on the design, manufacture, and sale of heavy, medium, and light trucks. Promoting the electrification of light commercial vehicles and expanding the range of electric trucks weighing below 3.5 tons is a key strategy for the Iveco. The cooperation with Foton is specifically aimed at electric box trucks weighing below 3.5 tons.

Over the years, Foton has consistently implemented its internationalization and new energy strategies, vigorously developing low-carbon or zero-carbon green technologies and industrial systems. Since 2004, Foton has exported a cumulative total of 926,000 vehicles, ranking first in China's commercial vehicle exports for 13 consecutive years, with products selling well in 130 countries worldwide.

Foton has independently developed and mastered the core "three-electric" technologies, achieving diversified development in pure electric, hybrid, hydrogen fuel cell, and other new energy technologies, covering a full range of commercial vehicle products. Its new energy products exported to 45 countries and regions have not only accelerated the green transformation of the global logistics and transportation industry but also provided overseas consumers with more green and environmentally friendly travel options.

The signing of this memorandum also opens the door for further discussions on other cooperative initiatives between the two parties, including localized production of collaborative vehicles in Europe and South America in the later stages. Additionally, both parties will explore supply opportunities between the Iveco and Foton, including opportunities through Fiat Powertrain Technologies, a brand under the Iveco.