Foton Motor announced that the company's board of directors agreed to invest 554.8 million yuan in the South China Sea to carry out technological transformation projects. The company stated that carrying out the Dazhong Ke technical transformation project in Nanhai is a requirement for Futian to rationally carry out product strategic layout and expand production capacity, which will help increase the market share of large and medium-sized passenger vehicles, enhance the market competitiveness of enterprises, and have very good economic benefits. And social benefits.
Foton Motor stated that in 2009, the Chinese auto market was in an uptrend, with annual production and sales exceeding 12.5 million units, an increase of approximately 34% year-on-year. The large and medium-sized bus market has also achieved rapid development, and the target market capacity has been further expanded. At the same time, driven by the national energy-saving and emission-reduction policies, the demand of domestic and foreign markets for new energy buses will continue to climb. Faced with good development opportunities, the company is no longer required to carry out business expansion of new energy buses on the basis of consolidating the traditional energy bus market.
It is reported that the technical transformation project was carried out on the basis of the original newly built Zhongzhongka Plant. Earlier this year, Foton decided to relocate the Zhongcai Plant from Guangdong Nanhai to Huairou, Beijing. The investment amount was adjusted from 1.188 billion yuan. 12.98 billion yuan, the functions of the Nanhai plant have become large and medium-sized bus production bases.
RMB 550 million Futian Investment Nanhai Large and Medium-sized Passenger Car Technical Transformation Project