Iveco, Foton Announce Joint Exploration Project

Iveco, Foton Announce Joint Exploration Project

The two companies will look into future synergies in the areas of electric vehicles and components.

Iveco signed a Memorandum of Understanding (MoU) with Foton, a commercial vehicle manufacturer in China, to explore potential collaboration in the areas of electric vehicles and components.

Iveco said the partnership is part of a broader strategy to extend its light commercial vehicle lineup to the Gross Vehicle Weight (GVW) category that falls below the DAILY range of GVW 3.5-to-7.2 tons, adding both chassis cab and panel van all-electric models under the GVW 3.5-ton threshold.

With Foton, Iveco will look into the commercialization of an electric panel van in Europe and South America in the lightest category of up to GVW 3.5 tons. The future panel van will potentially positively impact the regional and local supply chains in Europe and South America, according to the company. Earlier this year, Iveco Group also signed a supply agreement with Hyundai Motor Company for an electric GVW 2.5-to-3.5-ton chassis cab to be sold and serviced in Europe by Iveco.

The MoU between Iveco Group and Foton is also opening the two companies to joint exploration of additional future synergies, including the possible localization of activities in Europe and South America, to be evaluated at a later stage, according to the latest press information.

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