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It was learned from Beiqi Foton on August 30 that Beijing Futian Cummins Engine Co., Ltd., originally scheduled to be established in the third quarter of 2006, has finally completed a long wait and is expected to be officially established in the second half of this year.
According to reports, the total investment of the project is 1.946 billion yuan (US$240 million). Beiqi Foton and Beijing Foton jointly hold 50% of the registered capital of the joint venture company, of which Beiqi Foton’s shareholding target will not be lower than 25%.
The term of the joint venture is 30 years.
It is reported that the upcoming joint venture plans to produce 2.8-liter and 3.8-liter diesel engines for the subsidiary vehicles of Foton and Foton. The engine to be put into production will be a high-performance light-duty diesel engine for the international markets in Europe and America, with a high starting point and high performance. Features such as low emissions can meet Euro IV and Euro IV emission standards. At the same time, the joint venture's engine is not limited to sales in the Chinese market.
View related topics: Cummins - world-class engine manufacturer
December 24, 2022