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Home arrow News arrow Automotive arrow China's Beiqi Foton Motor to set up facility in Maharashtra at Rs 1,676 cr
China's Beiqi Foton Motor to set up facility in Maharashtra at Rs 1,676 cr Print E-mail
Written by Ramanathan   
Saturday, 30 April 2011
Mumbai: China's largest commercial vehicle maker, Beiqi Foton Motor plans to invest Rs 1,676 crore to set up a manufacturing facility in Maharashtra, India. The company signed a Memorandum of Understanding (MOU) to this effect with the Maharashtra government. The company is in the process of identifying suitable land along with MIDC.

"Our vision is to introduce a full range of commercial vehicles in a phased manner. Our sourcing strategy will lay a lot of emphasis on supplies from Indian suppliers and our operations will largely deploy talent from India,"Beiqi Foton Motor India Operations, Managing Director Rakesh Kalra said.

"Foton is the first among the Chinese auto-makers to invest and set up facilities in India," said Jinyu Wang, President, Beiqi Foton Motor.

Heyi Xu, Chairman, Beiqi FOTON Motor and Azeez M Khan Principal Secretary (Industries, Energy and Labour Department), Maharashtra Government signed the MOU.

"The Indian commercial vehicle sector is the world's fourth-largest and is expected to grow rapidly," said Jinyu Wang. "Beiqi Foton plans to create products suited to meet the needs of Indian environment and conditions," he added.

Last Updated ( Thursday, 29 September 2011 )
 
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