Beijing (ZXZC)- On June 4, 2024, Foton Motor and Iveco Group signed a memorandum of understanding (MoU) in Beijing to explore collaboration in the electric vehicle and components sectors. This partnership aims to expand their presence in the European and South American markets.

Signing ceremony; photo credit: Foton Motor

Through this collaboration, both companies will work on developing a new generation of environmentally friendly electric vans. These vans, with a gross vehicle weight of less than 3.5 tonnes, will be commercialized through Iveco’s extensive sales channels in Europe and South America. This initiative is expected to positively impact the regional and local supply chains in these markets.

Iveco, a pioneer in the commercial vehicle sector, focuses on designing, manufacturing, and selling heavy, medium, and light trucks. Promoting the electrification of light commercial vehicles and expanding the range of electric vans under 3.5 tonnes are strategic priorities for the Iveco Group. The partnership with Foton Motor specifically targets the development of electric vans in this weight category.

The MoU also opens the door for further collaboration, including the localization of these vehicles in Europe and South America at later stages. Additionally, both parties will discuss supply opportunities between Iveco Group and Foton Motor, including potential collaborations with Iveco Group's powertrain brand, FPT Industrial.

Foton Motor has consistently pursued international and new energy strategies, vigorously developing low-carbon and zero-carbon green technologies and industry systems. The company independently develops and masters core technologies, offering a range of new energy solutions such as battery electric, hybrid, and hydrogen fuel cell technologies. Foton’s new energy products are sold in 45 countries and regions worldwide.