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Friday, June 14, 2024

Foton & IVECO to explore future synergies

FOTON and Iveco Group have recently signed a memorandum of understanding to explore cooperation in the field of electric vehicles and components. The partnership aims to jointly develop electric vans for the European and South American markets in the lightest category, up to 3.5 tonnes GVWR, through IVECO’s sales channels. This collaboration between the leading commercial vehicle manufacturer in China, FOTON, and the utility vehicle brand of Iveco Group, will have a positive impact on regional and local supply chains in these markets.

FOTON has a strong commitment to driving innovation in the automobile industry and has been a key player in China’s commercial vehicle exports for over a decade. With a focus on green technologies and low-carbon industrial systems, FOTON has independently developed core technologies for electric vehicles, including BEVs, hybrid vehicles, and hydrogen fuel cell vehicles. Their new energy vehicle products have been exported to 45 countries and regions, providing consumers with greener and more environmentally friendly transportation solutions.

The partnership with Iveco Group will allow FOTON to further expand its global presence and continue to lead in the development of new energy vehicles. Iveco, as part of Iveco Group, specializes in the design, manufacture and sale of heavy, medium, and light trucks, and is strategically focused on promoting the electrification of light commercial vehicles. This collaboration will ensure the availability of a van model in the up to 3.5 tonnes GVWR range and further discussions between the two parties may lead to joint activities in Europe and South America.

The signing of the MoU marks the beginning of an exciting new chapter of international cooperation between FOTON and Iveco Group. By combining FOTON’s expertise in electric vehicles with Iveco Group’s strong presence in the commercial vehicle market, the partnership is set to drive innovation and development in the field of electric vehicles and components. Stay tuned for more updates on this promising collaboration.

For more information and updates, please visit FOTON’s official website and follow their social media channels. Exciting things are on the horizon for the electric vehicle industry, and FOTON and Iveco Group are leading the way in driving sustainable transportation solutions for the future.

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