<p>The Beijing-based commercial vehicle-maker has signed a Memorandum of Understanding (MoU) with the Maharashtra Government to invest Rs 1,676-crore to set up a manufacturing facility. The company plans to launch vehicles from its India facility by 2013.<br /><br />"Initially, we will launch a host of products in the LCV and MCV segments in the first year itself from our Indian facility," the company's Executive Vice-President for India Operations, R Shankar, told PTI here.<br /><br />"The Indian commercial vehicle industry is the world's fourth-largest and is expected to grow rapidly. We are confident of playing an important role here," he said.<br /><br />The company's new facility will come up near Pune in Maharashtra, he said.<br />Foton has 10 major product brands including Auman, Auv, Aumark, MP-X, Midi, Saga, View, SUP, Ollin and Forland.</p>.<p>The company has 14 plants spread all over China and has JVs and partnerships with Cummins Inc, USA, and Dialmer Trucks, Germany.<br /><br />"We are not joining hands with others to set up our India facility. This plant will be the company's first facility outside China," he said.<br /><br />The Shanghai Stock Exchange-listed company plans to have five manufacturing bases outside of China in emerging markets, besides entering the developed markets of North America, Europe and Japan, by 2020.<br /><br />Foton has set up KD operations in Russia, Iran, Pakistan, Vietnam, Indonesia and Kenya and exports to over 100 countries around the globe. </p>
<p>The Beijing-based commercial vehicle-maker has signed a Memorandum of Understanding (MoU) with the Maharashtra Government to invest Rs 1,676-crore to set up a manufacturing facility. The company plans to launch vehicles from its India facility by 2013.<br /><br />"Initially, we will launch a host of products in the LCV and MCV segments in the first year itself from our Indian facility," the company's Executive Vice-President for India Operations, R Shankar, told PTI here.<br /><br />"The Indian commercial vehicle industry is the world's fourth-largest and is expected to grow rapidly. We are confident of playing an important role here," he said.<br /><br />The company's new facility will come up near Pune in Maharashtra, he said.<br />Foton has 10 major product brands including Auman, Auv, Aumark, MP-X, Midi, Saga, View, SUP, Ollin and Forland.</p>.<p>The company has 14 plants spread all over China and has JVs and partnerships with Cummins Inc, USA, and Dialmer Trucks, Germany.<br /><br />"We are not joining hands with others to set up our India facility. This plant will be the company's first facility outside China," he said.<br /><br />The Shanghai Stock Exchange-listed company plans to have five manufacturing bases outside of China in emerging markets, besides entering the developed markets of North America, Europe and Japan, by 2020.<br /><br />Foton has set up KD operations in Russia, Iran, Pakistan, Vietnam, Indonesia and Kenya and exports to over 100 countries around the globe. </p>