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    600166   CNE000000WC6

BEIQI FOTON MOTOR CO., LTD.

(600166)
  Report
End-of-day quote Shanghai Stock Exchange  -  2022-11-29
2.690 CNY   +2.67%
11/30Foton Motor Subsidiary Borgward Declared Bankrupt
MT
11/15Foton Motor Forms Used Car Joint Venture
MT
10/28Beiqi Foton Motor Co., Ltd. Reports Earnings Results for the Nine Months Ended September 30, 2022
CI
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China's Foton aims to sell 200,000 new energy commercial vehicles by 2025

11/16/2019 | 03:58am EST
Worker stands next to robotic arms welding pump truck part at a factory of the Foton Loxa Heavy Machinery Co in Zhangjiakou, Hebei

Daimler's Chinese truck venture partner Beiqi Foton Motor aims to sell 200,000 new energy commercial vehicles a year by 2025, its chairman said on Saturday.

Beijing-based Foton, a BAIC Group unit, will develop electric, hydrogen fuel cell and gasoline-electric trucks and vans, Zhang Xiyong told a conference on Saturday.

Foton, which also builds Auman-branded trucks with Daimler, plans to invest 18 billion yuan (£2 billion) on research, supply chain and manufacutring facilities for the new energy commercial vehicle project, it said in a statement to Reuters.

In April, Toyota Motor Corp said it would supply fuel cell vehicle parts to Foton in a push to promote the fuel cell vehicle industry in China.

A growing number of automakers operating in China, the world's biggest vehicle market, are investing in electric vans and trucks. They are convinced by increasingly stringent restrictions aimed at reining in pollution, and robust demand for light-duty trucks as e-commerce flourishes, Reuters reported last year.

(Reporting by Yilei Sun and Brenda Goh; Editing by Edwina Gibbs and Jacqueline Wong)


ę Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
BEIQI FOTON MOTOR CO., LTD. 2.67% 2.69 End-of-day quote.-21.80%
MERCEDES-BENZ GROUP AG -0.43% 64.09 Delayed Quote.-4.72%
TOYOTA MOTOR CORPORATION -0.60% 1998.5 Delayed Quote.-4.51%
All news about BEIQI FOTON MOTOR CO., LTD.
11/30Foton Motor Subsidiary Borgward Declared Bankrupt
MT
11/15Foton Motor Forms Used Car Joint Venture
MT
10/28Beiqi Foton Motor Co., Ltd. Reports Earnings Results for the Nine Months Ended Septembe..
CI
10/17China’s Pickup Truck Sales Rise 9.4% in September
MT
09/23Daimler Truck begins producing Mercedes-Benz branded trucks in China
RE
09/06Foton Motor's Automotive Unit Sales Rise 12% in August, Output Slides 6%
MT
08/30Beiqi Foton Motor Co., Ltd. Reports Earnings Results for the Half Year Ended June 30, 2..
CI
08/26Beiqi Foton Motor Co., Ltd. announced that it has received CNY 2.999999999 billion in f..
CI
08/03Foton Motor's Sales Plunge 42% in July, Output Tanks 40%
MT
07/15Beijing Yitang Shenglong Semiconductor Industry Investment Center (Limited Partnership)..
CI
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Financials
Sales 2021 54 974 M 7 761 M 7 761 M
Net income 2021 -5 061 M -714 M -714 M
Net Debt 2021 1 275 M 180 M 180 M
P/E ratio 2021 -4,42x
Yield 2021 -
Capitalization 21 411 M 3 023 M 3 023 M
EV / Sales 2020 0,38x
EV / Sales 2021 0,43x
Nbr of Employees 20 815
Free-Float 68,7%
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Managers and Directors
Yue Qiong Gong General Manager & Director
Yan Mei Li Chief Financial Officer
Xi Yong Zhang Chairman
Hong Jin Xing Chairman-Supervisory Board
Ping Ma Independent Director
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MERCEDES-BENZ GROUP AG-4.72%71 050