Foton Motor, a state-owned listed company based in Beijing, is aiming to become a world-class automotive manufacturer over the next 5 to 10 years. According to Zhao Jingguang, the deputy secretary of the Party Committee at Foton Motor, the company plans to sell more than 1.5 million vehicles annually by 2015, with revenue surpassing 120 billion yuan. Of this, over 30% is expected to come from overseas markets.
With total assets of 11 billion yuan and cumulative production and sales exceeding 3.2 million units, Foton Motor has consistently ranked second in the global commercial vehicle market for three consecutive years and holds the top position in China’s commercial vehicle sector for five years in a row.
Despite a challenging environment in China’s commercial vehicle market, where sales declined in the first five months of this year, Foton Motor managed to sell 235,000 units during that period. The company remains confident in achieving its annual target of 426,000 vehicles and even aims to reach 475,000 units if possible.
Zhao Jingguang also highlighted Foton Motor’s strategic goals for the "Twelfth Five-Year" Plan period. Building on its leadership in the domestic commercial vehicle market during the "Eleventh Five-Year" period, the company aims to secure either first or second place globally. Additionally, passenger car development is progressing steadily, with significant breakthroughs expected during the 12th Five-Year Plan. New energy vehicles are also being prioritized as part of Foton Motor's long-term strategy, with all future models set to include electric or hybrid options.
According to data from the China Association of Automobile Manufacturers, car sales reached 4.96 million units in the first five months of this year, reflecting a 14.3% increase compared to the same period last year. Analysts predict that annual sales could exceed 10 million units by the end of the year, signaling continued growth in the Chinese automotive market.
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