Beiqi Foton begins construction of MPV facility

Beiqi Foton has started construction of a new plant in Miyun, China, that will have a total investment of around 3 billion yuan (US$440 million). Sources said that this will include a heavy-duty truck plant with a production capacity of 80,000 units per annum (upa), a gasoline (petrol) engine plant with an annual capacity of 400,000 upa, a heavy machinery plant with production capacity of 6,000 upa, and a global business center. These plans will raise sales revenues by 100 billion yuan (US$14.64 billion) and pre-tax profits to 8.8 billion yuan (US$1.29 billion). The capacity increase will boost the company’s capacity to build one million vehicles and one million engines. (December 29, 2009)