Electric trucks, Chinese maker Foton to enter JV with Eve Energy for battery leasing
By offering battery leasing separately from the vehicle purchase, the joint venture seeks to lower the upfront cost of Foton’s electric trucks. Since batteries typically represent a significant portion of an electric vehicle’s total cost, this approach is expected to make Foton's battery electric vehicles (BEVs) more competitive.
Chinese electric truck maker Foton, now also active in several European countries, especially with its range of light-duty trucks, has announced plans to form a new joint venture with Eve Energy. The JV is focused on the implementation of battery leasing services in the field of electric trucks.
According to press sources, the joint venture will have a registered capital of CNY 500 million (approximately USD 70 million), with both companies contributing equal shares. The new entity is expected to provide a range of battery leasing options to Foton’s customers, aiming to boost the adoption and sales of electric trucks in the domestic market.
Battery leasing is the new road Foton wants to try
Indeed, by offering battery leasing separately from the vehicle purchase, the joint venture seeks to lower the upfront cost of Foton’s electric trucks. Since batteries typically represent a significant portion of an electric vehicle’s total cost, this approach is expected to make Foton’s battery electric vehicles (BEVs) more competitive.
Such an initiative follows a recent partnership between Foton and Huawei Digital Power Technologies Company to co-develop advanced electrification technologies for battery-powered trucks and to build a high-speed charging infrastructure network.
