Beiqi Foton Motor Co, China's biggest maker of commercial vehicles, plans to set up a new factory to extend its dominance over Dongfeng Motor Group Co in the world's fastest-growing vehicle market.
Beiqi Foton will build a plant in southwest China's Sichuan Province that can make 100,000 Forland and Ollin light trucks a year, the company said in a statement to the Shanghai Stock Exchange yesterday. Beiqi Foton and its largest shareholder Beijing Automotive Industry Holding Co have signed a pact with the government of Deyang City in Sichuan, the company said.
(Shanghai Daily March 14, 2008)
