Bosch Venture Capital and others invest in Foton’s new, new energy commercial vehicles manufacturing company
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By Will Pulson - 5th April 2024
A Foton tractor unit
China - The end of January saw Beiqi Foton Motor Company Ltd (Foton), based in Beijing, has launched the “Cavan” new energy commercial vehicle (NECV) brand in China in partnership with Bosch's investment unit, Robert Bosch Venture Capital GmbH, BAIC Capital, Boyuan Capital and other local investors.
The Cavan brand was established by a joint venture called Beijing Cavan New Energy Vehicle Company Ltd (Cavan Auto), formed in 2023 with a registered capital of CNY500m (USD290m), in which Foton owns a 65% stake, Bosch Venture Capital 10% and the remainder is split between the other financial institutions.
