FOTON and Iveco Group have signed a Memorandum of Understanding (MOU) to explore cooperation in electric vehicles and components. The partnership aims to expand into European and South American markets, focusing on the commercialization of an electric panel van. This collaboration underscores both companies’ commitment to innovation and sustainability in the automotive industry.
Key Highlights:
- Partnership Focus: Joint exploration of electric vehicle components and market expansion.
- Target Markets: Europe and South America.
- Vehicle Specification: Electric panel van with a GVW of up to 3.5 tons.
- Potential Benefits: Positive impact on regional and local supply chains.
Jointly Exploring New Development
FOTON, a leading commercial vehicle manufacturer in China, is at the forefront of driving innovation in the automotive industry. This partnership with Iveco Group will focus on the commercialization of an electric panel van for the European and South American markets. The vehicle, in the lightest category of up to GVW 3.5 tons, will be marketed through IVECO’s sales channels. This initiative is expected to significantly enhance regional and local supply chains in these markets.
IVECO, the commercial vehicle brand of Iveco Group, specializes in the design, manufacture, and sale of trucks. The electrification of light commercial vehicles is a strategic priority for Iveco Group, and this collaboration with FOTON will help ensure the availability of a new panel van model within this range.
Embarking on a New Journey of International Cooperation
The MOU signing also paves the way for further discussions on potential localizations of activities in Europe and South America. Future supply opportunities between Iveco Group and FOTON, including through Iveco Group’s powertrain brand FPT Industrial, are also on the agenda.
FOTON’s Global Vision
FOTON has long adhered to a globalization and new energy strategy, focusing on developing low-carbon and zero-carbon technologies. Since 2004, FOTON has exported 926,000 vehicles, ranking first in China’s commercial vehicle exports for 13 consecutive years. The company’s core EV technologies and new energy vehicle solutions, including BEV, hybrid, and hydrogen fuel cell, cover a full range of commercial vehicle products. FOTON’s NEV products have reached 45 countries and regions, accelerating the green transformation of global logistics and offering environmentally friendly transport solutions worldwide.
This partnership marks a significant step forward in the global expansion and innovation strategies of both FOTON and Iveco Group.
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