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Beiqi Foton announced in Beijing that it had successfully established a Sino-foreign joint venture engine company in Beijing’s Changping District with a joint venture with Cummins, the world’s largest engine giant. The joint venture will have a design capacity of 400,000 vehicles, which is currently China's largest engine production base.
It is reported that Foton Cummins Engine Co., Ltd. was established by Futian and Cummins at a 50:50 equivalent ratio with a total investment of more than 2.7 billion yuan. The main products are Cummins' latest-generation 2.8-liter and 3.8-liter inline four-cylinder high-pressure direct injection light-type Diesel engine, suitable for light trucks, pickup trucks, SUVs, MPV utility vehicles and other fields. This is Cummins' only light diesel engine production base outside the United States.
Pursuant to the agreement between the parties, Foton will purchase engines from the joint venture company and assemble it on Foton and its sub-brand models, and Cummins can also purchase engine sales from the joint venture company to China and other automakers worldwide.
Fukuda is the largest commercial vehicle company in China, and Cummins is the world's largest independent automotive engine manufacturer. Lin Muhong, an auto analyst at Industrial Securities, said that through this cooperation, Foton can use Cummins to successfully launch products into developed markets in Europe, America, Japan and South Korea, and Cummins can use Fukuda to complete its strategic layout in China.
Zhao Jingguang, a spokesperson for Foton News, said that according to the planning of Futian, the world’s largest engine production base with an annual output of 1 million vehicles will be built in Beijing in the future. With the establishment of the Foton Cummins Joint Venture, this plan is expected to accelerate completion.