Iveco and Foton explore potential collaboration
By Luke Willetts - 1st July 2024
Italy / China – Iveco Group NV (Iveco), the Dutch holding company of the Italian truck-maker, announced in early June that it had signed an agreement with leading Chinese commercial vehicle manufacturer, Beiqi Foton Motor Company (Foton) to explore potential collaboration in electric vehicles and components, as well as joint business opportunities in Europe and South American markets.
Beijing-based Foton is controlled by state-owned automaker BAIC Group and produces a wide range of light, medium and heavy commercial vehicles as well as light passenger vehicles. Iveco is focused solely on producing commercial vehicles, with a strong market position in Europe and South America. It also has R&D and production operations in China, where it sells its vehicles under the Iveco, FPT Industrial, Astra and Magirus brands.
