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Wang Jinyu, secretary of the Party Committee and general manager of Foton Motor Group, said that Foton Motor Group will continue to increase investment in its engineering vehicle division and is now fully reviewing and strategically designing its engineering vehicle business, which is expected to be announced in the first half of 2014.
Wang Jinyu made this statement at the 2014 business annual meeting of the Engineering Vehicle Division of Foton Motor Group. “The engineering vehicle division is the birthplace of Futian, and the first factory and the first division of Foton Motor Group started from the engineering vehicle. The business of the Construction Truck Division promotes the urbanization process in China and serves the Chinese economy. And social development has made important contributions.†After reviewing the development history of Foton Motor Construction Vehicles, he stated that the Foton Group is developing a new engineering vehicle product platform and will increase investment in Zhucheng and Changsha. Renovation of product and factory facilities. In addition, the engineering vehicle division will share the Futian power system, body, and frame resources, which will greatly increase business competitiveness and physical quality.
Representatives from more than 680 dealers, service providers, and special-purpose vehicle conversion plants from across the country attended the conference. Sun Jiaping, vice president of Foton Motor Group, and party committee secretary and general manager of the Construction Vehicles Division, said in the keynote report that in 2013, Foton Automotive Construction Trucks Division expects to realize production and sales of 102,000 vehicles, sales revenue of 7.12 billion yuan, and market share. Steady progress has been made, and the annual business objectives have been successfully completed. In 2014, the Chinese economy will maintain a steady development trend, the target market will be relatively stable, and the Foton Automotive Construction Truck Business Unit will be oriented toward the market and customers to accelerate the transformation and upgrading of business and management. Quickly improve your capabilities.
The conference also announced Foton Motor’s “Strategic Planning for Engineering Vehicles 2020†version 4.0, proposing “through the deep restructuring of trucks to promote the upgrading of operations management, shaping the core competitiveness of the construction vehicle business and establishing the absolute leading market position in the domestic industryâ€. In terms of product strategy, they plan to gradually form Ruiwo's medium-heavy product portfolio and build high-end products for light vehicles.
The plan also clearly stated that, according to the development trend of the construction vehicle target market, heavy engineering vehicles and Zhongka, Era Transport, special vehicles and overseas operations will be the focus of the development of the engineering vehicle division.