Foton plans to increase 68 million euros to research Cummins engine
(chinatrucks.com, June 1, 2010) It is learned by reporter that Foton has published the announcement. It is disclosed by announcement that Foton will invest 68 million euros to Beijing Foton Cummins Company Limited during 2010 to 2012 in order to satisfy the investment demands of Euro Ⅴ/Euro Ⅵ program development.
Beijing Foton Cummins Engine Company Limited has been set up after National Development and Reform Bureau and Commercial Department has approved in October, 2007. The program registering assets is 100,800,000 euros and the fixed assets investment is 182,700,000 euros.
The published announcement showed that the AV enterprise and Cummins Company Limited have signed the technology license agreement of Euro Ⅴ engine in order that the overseas market share shall be seized, the development space of AV shall be expanded, and long ＆stable development layout shall be established.
AV and Cummins Company Limited also plan to sign the technology license agreement of Euro Ⅵ engine, and the compensation fees of the two technology license agreements will be included as well.
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