| 23-04-2008
According to statistics from Foton said it sales broke the 400,000 units mark with revenue of 27.86 billion Yuan and profit of 460 million Yuan, making it the No. 2 commercial automaker in the world in 2007. Foton are now working on changing its brand from made-in-China to innovated-by-China. China's auto industry now has the capability of competing with international players with independent technology and products.
“We will increase our investment in R&D year-by-year for more expansion.” says Wu Xuebin, vice general manager who is in charge of R&D at Beiqi Foton. From 2001, Beiqi Foton plunged more than 2 billion Yuan into R&D and developed more than 500 products. There will be more than 3,000 professionals working on R&D by 2010.
Foton announced the inauguration of Key R&D Center at its headquarters in Beijing at last year. The center includes seven labs and will focus on the development of environmental-friendly technologies in China's auto industry. China's new energy and clean energy auto technologies are not far behind the global level. It's an opportunity for Chinese automakers to catch up to the international industry by increasing the innovation of independent green technologies. Wan Gang, minister of the Ministry of Science and Technology, said “Independent brands and self-innovation can help our enterprises expand into global markets.”
Foton is going to sell 500,000 units in 2008.
Editor: Frederick Wei from Chinabuses.com
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