Foton Motor Company, business transport producers of China is planning to invest in Pakistan. As a result, a group of Foton Motors met the Finance Minister of Pakistan Ishaq Dar last week. The company exhibited interest to utilize their resources into the neighborhood automobile industry to expand their business. The government had made some adjustments in the auto policy for the next 5 years which was highly appreciated by the Chinese company.
Special advisor of the Prime Minister of Pakistan and the Chairman of the Board of Investment also attended the meeting. All of them welcomed the gesture of making Foton Motors a part of Pakistan. Moreover, the idea of investing in the local automobile industry of Pakistan was also acknowledged by Finance Minister Ishaq Dar.
Contribution of Foton Motor
Foton have been assembling commercial transports, trucks tractors, and various other overwhelming machines for a very long time. The company has been working under China’s BAIC group as a subsidiary located in Changping, Beijing. Being one of the highest commercial transport producers of the world, Foton offers heavy transport vehicles that are identical to Toyota’s Hiace H100. In addition, the company has also been producing 2.8 liter and 3.8 liter diesel engines for a very long time.
In association with Master Motors, Foton has sold M–280 trucks all over Pakistan. Along with that, law enforcement agencies have been using Foton Tunland, which can be seen in different parts of Pakistan. The China-Pakistan Economic Corridor (CPEC) is also playing a vital part in helping companies of both the countries to explore distinctive opportunities of interest and work in a pleasant way. It is true that the completion of CPEC will be of great benefit to both the countries in all aspects.
Foton Motor is also working with various global organizations on different projects. Since 2010, they along with the German company Diamler have been producing local truck for Chinese market. Moreover, the company also provides employment to 300,000 people in their 24 global manufacturing plants with the total resources of more than 50 billion Yuans. In addition to expanding their business in Pakistan, Foton Motor is also looking to target India and Bangladesh.