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Position:news > parts > Foton and Cummins to Establish a New Joint Venture

Foton and Cummins to Establish a New Joint Venture

2020-12-24    Source:www.chinabuses.org
Summarize:On December 18, China’s leading commercial vehicle brand, Foton, and Cummins, a globally renowned engine maker, officially signed a cooperation agreement. According to the agreement, the two parties will jointly establish a joint venture to develop exhaust treatment systems.

On December 18, China’s leading commercial vehicle brand, Foton, and Cummins, a globally renowned engine maker, officially signed a cooperation agreement. According to the agreement, the two parties will jointly establish a joint venture to develop exhaust treatment systems. With a 50% share of investment from each party, the new joint venture is expected to produce 200,000 sets of exhaust treatment systems.

It is revealed that the with an initial investment of 250 million RMB, the new joint venture will start operation in the second quarter of 2021 and will mark a new milestone for the two parties’ cooperation.

“By strengthening our cooperation with Cummins, we aim to develop more diversified products to suit our global customers’ needs and requirements”, said Gong Yueqiong, General Manager of Foton.

“On the back of our cooperation in the past fifteen years, we will continue to take full advantage of our respective strengths and thus better serve our global customers”, said Nathan Stoner, vice president of Cummins.

Foton and Cummins started strategic cooperation in 2005. Two years later, Foton Cummins Engine Co., Ltd. was established, which has sold over one million units diesel and natural gas engines across the world. In 2014, the two parties expanded expanded their areas of cooperation to produce engines for heavy-duty trucks. In 2018, Foton introduced X12, the most technologically advanced engine product developed by Cummins.

Editor:Mark

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