IVECO finds another partner in the Far East. MoU announced with Chinese brand Foton
The newly-announced MoU is part of Iveco Group’s overarching electrification strategy to extend its light commercial vehicle line-up to the GVW category that falls below the iconic DAILY range of GVW 3.5 - 7.2 tons.
Following the partnership with Hyundai, which will lead to a long-awaited new electric LCV model to be unveiled at IAA Hannover, IVECO has found a possible new partner in the Far East. The Italian truck manufacturer and Foton have signed a MoU “to explore potential collaboration in the areas of electric vehicles and components, and joint business opportunities, for Europe and South America”, as written in the official press note.
Foton is a commercial vehicle company under BAIC Group in China. It is one of the first Chinese commercial vehicle brands to approach the challenging European market in the latest years. Foton pursues multiple routes through new energy technologies such as pure electricity, hybrid and hydrogen fuel cells for commercial vehicles.
IVECO and Foton: electrification on the spotlight
According to Iveco Group, this partnership is part of the company’s overarching electrification strategy to extend its light commercial vehicle line-up to the GVW category that falls below the iconic DAILY range of GVW 3.5 – 7.2 tons, adding both chassis cab and panel van all-electric models under the GVW 3.5-ton threshold.
With Foton, Iveco Group will investigate the option of utilising the IVECO sales channels for the commercialisation of an electric panel van in Europe and South America in the lightest category of up to GVW 3.5 tons. The future panel van will potentially positively impact the regional and local supply chains in Europe and South America, in addition to further supporting the growth of the IVECO point of sales and workshop network.
Finally, present during the signing were a delegation from Iveco Group including Gerrit Marx, CEO; Luca Sra, President of the Truck Business Unit; Sylvain Blaise, President of the Powertrain Business Unit; Marco Liccardo, Chief Technology & Digital Officer; Angela Qu, Chief Supply Chain Officer; and Ángel Rodríguez Lagunilla, Chief Manufacturing Officer; and leadership from Foton, including Chairman Chang Rui; Executive Vice President Lu Zhenghua; Vice President Chen Qingshan; Vice President Qin Zhidong; Vice President of International Cooperation Ma Rentao; and Vice President of Power Transmission Feng Jing.
