Foton and Cummins Jointly Establish a New Joint Venture
On December 18, Foton and Cummins officially signed a cooperation agreement in Beijing, marking the two parties’ cooperation in developing exhaust treatment systems. With a 50% share for each party, the new company will devote itself to developing and manufacturing advanced exhaust treatment systems.
With an initial investment of 250 million RMB, the new company is geologically close to Foton Cummins Engine and Foton’s production base in Shahe. With an annual production capacity of 200,000 units exhaust treatment systems, it is scheduled to start operation in the second quarter in 2021.
In 2007, Foton and Cummins jointly set up Foton Cummins Engine Co., Ltd. (hereafter referred to as Foton Cummins) In 2014, the two parties expanded their areas of cooperation and built a factory producing engines for heavy-duty vehicles. In 2018, Foton introduced internationally advanced X12 engine from Cummins. So far, Foton Cummins has sold over one million diesl and natural gas engines to its customers across the globe.
“While working closely with Cummins, we hope to further integrate our exhaust treatment systems with engines and help our products deliver the best performances. Fully aware of the huge impact of carbon emissions and committed to reducing carbon footprint, we aim to create a win-win situation for both parties”, said Gong Yueqiong, General Manager of Foton.
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