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Old 03-03-2008, 11:08 AM   #23
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Beiqi Foton to build plant in Russia.

March 3, 2008 - China's largest commercial vehicle manufacturer, Beiqi Foton Motor is preparing to build a joint venture plant in Russia, according to a China Business News report today.

Foton is preparing to build a plant to produce middle and heavy trucks in Russia and the preparatory work is expected to be finished by the end of this year, according to Zhao Weichun, the company chief officer in charge of the company’s overseas operations.

Foton’s joint venture plant in Russia, which has a projected annual output of 100,000 vehicles, will concentrate on the production of middle and heavy trucks, according to a different company source.

Currently, Foton mainly sells middle and heavy trucks and Aoling light trucks in Russian market. The Chinese automaker sold 8,000 Aoling light trucks in Russia market last year.

Last year Foton's sales revenue reached 27.86 billion yuan ($3.87 billion), up 40.53 percent from one year earlier. The automaker's light truck sales rose 11 percent to 319,000 last year, which represents 28.9 percent of China’s light truck market.

"This is the ninth year in a row that Foton has successful defended its top seller position in China's light truck market,” said Zhao Jingguang, Foton's spokesman. "And this is the first time that Foton becomes a top light vehicle seller worldwide."
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