Foton JV taps new energy
By Liu Yiyu | 皇冠体育app Daily | Updated: 2009-10-27 08:38
Beiqi Foton Motors Co, 皇冠体育app's largest commercial vehicle maker, will tap the new energy auto market by setting up a joint venture to develop and produce vehicle batteries, the company said yesterday in a statement.
The vehicle battery technology firm has been co-founded by Foton Motors, its parent company Beijing Automotive Industry Holding Co (BAIC), Pulead Technology Industry Co and a Dongguan-based technology firm.
Foton and BAIC are investing 10 million and 24 million yuan while the other two technology firms are investing 41 and 25 million yuan, respectively.
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