Iveco explores future synergies with Chinese group Foton

Iveco explores future synergies with Chinese group Foton

The Iveco Group and Chinese manufacturer Foton announce the signing of a memorandum of understanding, "to explore collaboration possibilities in the electric vehicle and component sectors, as well as joint business opportunities, for Europe and South America."
Foton is one of China's leading commercial vehicle manufacturers, part of the BAIC Group. With this partnership, Iveco aims to extend its range of light commercial vehicles to complement its emblematic Daily series (from 3.5 to 7.2 tons), with all-electric chassis cab and van models under 3.5 tons GVW. Together with Foton, Iveco will study the possibility of using its distribution channels to market an electric van in Europe and South America. The future van will potentially have a positive impact on regional and local supply chains in Europe and South America, while supporting the growth of Iveco's network of sales outlets and workshops. 

The memorandum of understanding also enables the two companies to jointly explore other future synergies, including the possible location of activities in Europe and South America. 

Earlier this year, the Iveco Group also signed an agreement with Hyundai Motor Company for an electric chassis cab with a 2.5 to 3.5 tonne gross vehicle weight, to be sold and serviced in Europe by Iveco.

Caption: Chang Rui, DG Foton (standing), Chen Qingshan Deputy GM Foton (front), Luca Sra, President Truck BU Iveco (front), Gerrit Marx CEO Iveco Group (standing behind)