Foton & Cummins sign agreement to build two plants in Brazil

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Chinese commercial vehicle manufacturer Beiqi Foton Motors Co signed an agreement with US engine manufacturer Cummins Inc on June 5 to jointly explore the Brazilian market. Foton will partner Cummins to build two plants in the country by 2014.

The new plants in Brazil will produce light trucks and pick-ups for the South American market, but annual production capacity has not yet been decided. Cummins now has a local plant with annual production capacity of 30,000 engines.

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Earlier this week, Foton also signed an agreement with the Cuban Ministry of Transportation to start a demonstration project of its new energy vehicles.

Until now, Foton has set up overseas branches in India and Russia and has built plants in more than 20 countries.

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Foton and Cummins already have projects in the Chinese market with a joint-venture engine plant producing 400,000 engines every year. These engines are installed to Foton’s high-end heavy-duty trucks, Auman GTL, which are mainly exported to the European market.

According to a report from Roland Berger Strategy Consultants, Brazil has grown to be the fourth-largest vehicle market in the world, after China, the US and Japan.

Via: ChinaDaily.

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