Foton Motor and Daimler Collaborate to Deploy Commercial Vehicle Market
Foton Motor and Daimler have signed a letter of intent to collaborate, marking a significant step in their strategic partnership. The two companies plan to establish a 50:50 joint venture in China, where Daimler will contribute cash, while Foton will transfer its Auman-related medium and heavy truck business after an evaluation process. This joint venture is expected to serve as the central hub for their global collaboration, managing key areas such as R&D, production, supply chain, and marketing.
The new joint venture, Foton Motors and Daimler China Heavy Truck Co., Ltd., will focus on producing Auman heavy trucks and will incorporate Daimler’s Euro V-certified OM457 engines with 460 horsepower. These products will be sold under the Auman brand, but will also feature the "Mercedes-Benz Power" label, highlighting the technological synergy between the two companies.
In this partnership, Daimler's branded vehicles are positioned as high-end models targeting premium niche markets, while Auman will focus on mid-to-low-end trucks aimed at broader consumer segments. This division of market positioning allows both companies to strengthen their presence in China’s medium and heavy truck industry, enhancing their competitive edge and expanding their global footprint.
Recent sales figures show that Foton has experienced rapid growth, surpassing industry averages by 18.8% year-on-year, with some months seeing over 50% growth. According to Foton’s long-term vision, the company aims to achieve annual sales of 80-100 million units by 2010, with 20% coming from overseas markets. Analysts predict that Foton could double its sales volume within two years, and without new growth drivers, its performance might face challenges.
However, recent collaborations, including the one with Daimler, have significantly boosted Foton’s technical and operational capabilities. This partnership is expected to help Foton capture a leading position in the domestic heavy truck market, with projected sales reaching 150,000 units. With support from Cummins, Foton’s mid-to-high-end light trucks, such as the Omar and Ao Ling, are set to gain more market share. Reaching 250,000 units in 2010 seems achievable. Additionally, with improved technology and brand reputation, Foton is well-positioned to hit 400,000 unit sales in the light truck segment.
This collaboration not only strengthens Foton’s market position but also opens up new opportunities for growth and innovation in the commercial vehicle industry.
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