Beiqi Foton Motor To Form JVs In Thailand With Charoen Pokphand Group
Foton announced on April 17 that the company board has approved a proposal that allows foton and Charoen Pokphand Group, as well as relevant party to set up a sales and manufacturing company in Thailand.
The joint venture, known as Foton Charoen Pokphand manufacturing company, is focused on manufacturing business. with a total registered capital of 300 million THB, Foton Hongkong made an investment of 153 million THB and holds a 51% share.
Foton Hongkong, Charoen Pokphand Group, and relevant party also set up a joint venture known as Foton Charoen Pokphand sales company with a total registered capital of 200 million THB, in which 98 million THB is from Foton Hongkong, equivalent to a 49% share.
As an important strategic market for Foton going global, Thailand has long been dominated by Japanese brands. Foton hopes to make breakthroughs in business and expand its presence there through cooperation with local firms. In the Initial period, Foton will begin with SKD in Thailand due to the high level of environmental protection and a lack of raw materials in the local region, at the same time they will seek to establish a highly developed supply chain in Thailand and ASEAN.
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