Foton Motor to spend US$1.47 billion to expand capacity

Beiqi Foton Motor, China’s leading commercial vehicle producer, recently announced its plans to spend 10 billion yuan (US$1.46 billion) over the next two to three years to expand the capacity of its vehicle and engine production. As the commercial vehicle subsidiary of Beijing Auto, Foton Motor aims to lift its vehicle production capacity to as much as 1.5 million units by 2013, the year in which the company is expected to become China’s largest production base of commercial vehicles and engines. The capacity expansion plans include building a second plant for Ouman heavy duty trucks. The new facility, scheduled to operate later this year, will be capable of producing 80,000 trucks per year, said Wang Xiangyin, vice general manger of Foton Motor. (April 6, 2010)