Foton Gripes Order

Beiqi Foton Motor Co., Ltd, China's biggest maker of commercial vehicles, has won an order for 450 hybrid buses from the Beijing municipal government.

Beijing Public Transport Holding Co will take delivery of the buses by the end of 2009, the company said in a statement to the Shanghai Stock Exchange. The government-owned public transport unit will pay 30 percent of the purchase price within 10 days, the statement said.

Foton, shortened for the Beiqi Foton Motor Co., Ltd., was founded on August 28, 1996. It is a state-owned holding company with different types of ownership and a company listed in the stock exchange market. Its business operation extends in various regions and sectors.

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