Foton's Times Auto Announces Globalization Strategy and Future Goals

TapTechNews September 28th news, Times Auto under Foton held a globalization strategy conference in Qingdao today. Lu Zhenghua, the常务副总经理 (executive deputy general manager) of Foton Motors, released Foton's internationalization strategy: GREEN3030.

Foton Motors mainly produces commercial vehicles, and its products cover four businesses including complete vehicles, parts, finance, and the automotive aftermarket; it owns automotive product brands such as Auman, Auman Eurostar Omarko, Aoling, Tuyaono, Ouhui, New Energy Vehicles, and Times.

TapTechNews attached the meaning of GREEN3030:

By 2030, achieve overseas sales of 300,000 vehicles, and the proportion of new energy to reach 30%.

G—Growth symbolizes an all-round layout of products, technical routes, marketing innovation, global supply chain system, and internationalization of organizational manpower.

R—Region shows localized in-depth manufacturing and operation to enhance the kinetic energy of economic development.

The first E—EV implies dual-drive of independent R & D and global cooperation to 'lead' new energy commercial vehicles.

The second E—Ecosystem interprets the operation of the global aftermarket full ecological value chain.

N—Network indicates the global resource chain system to achieve the integration and complementation of resources.

Driven by the new strategy, Times Auto under Foton aims to achieve sales of 500,000 vehicles by 2030, among which the proportion of new energy is 50%, and the overseas proportion is 30%, and the production and sales cover 150 countries and regions, while at the same time realizing that the proportion of smart cars exceeds 50%.