China's truck maker signs investment MOU with India

[Lankan Ranger]

China's truck maker signs investment MOU with India

China's leading truck manufacturer Beiqi Foton Motor announced Saturday that it has signed a Memorandum of Understanding (MOU) with India's Maharashtra state government to manufacture trucks in India.

Beiqi Foton Motor intends to invest at least 16.76 billion rupees through fixed assets, equipment and others upon the approval from the Chinese government and the completion of liabilities with Maharashtra state government.

The signing of the MOU and the following investment in India serve as a key step for the truck maker to implement its strategies and is an important move for its globalization dive, said a statement of the Beiqi Foton Motor.

The plant will be a comprehensive producing body and mainly produce heavy and light trucks according to the demand of local market, said Wang Shuguang, heading Beiqi Foton Motor's public relations.

Wang told Xinhua that the parts and components will mainly be sourced from local producers and Beiqi Foton Motor will take concrete steps in the second half of this year.

The location of the plant has not been finalized and could be in Mumbai or Pune with several options available, said Wang.

Beiqi Foton Motor also recently announced to build a sales company in Mumbai with investment of 100 million rupees.

Situated in China's capital city Beijing, Beiqi Foton Motor sold more than 600,000 vehicles in 2009 as the largest in the world.

China's truck maker signs investment MOU with India

 

[Lankan Ranger]

Investment

 

[SpArK]

Investment of 16 + Billion...

Somebody gonna hurt real bad.. ..................like leyland , Volvo and all.....

 

[jha]

Investment of 16 + Billion...

Somebody gonna hurt real bad.. ..................like leyland , Volvo and all.....

In rupees...But good anyways..

 

[desioptimist]

Good for us. We want more.

 

[rcrmj]

hope they will make money there``

 

[The HBS Guy]

Investment of 16 + Billion...

Somebody gonna hurt real bad.. ..................like leyland , Volvo and all.....

It's in rupees.

i.e. about $364million. Quite a big amount nevertheless.

BTW, I don't think it's going to hurt tata or AL. They have their hands full and are not being able to meet the country's demands anyways.

 

[SpArK]

This Foton Van looks great..

 

[SpArK]

It's in rupees.

i.e. about $364million. Quite a big amount nevertheless.

BTW, I don't think it's going to hurt tata or AL. They have their hands full and are not being able to meet the country's demands anyways.

Ahh its in rupees... damn it...


Nobody's gonna hurt.. i was just kidding.. or wasnt I ?

 

[desioptimist]

hope they will make money there``

I am sure it will be able to compete with others on price and quality.
Just have good marketing, have a good name for your product( no chinease name it sounds fake to indians).

 

[jha]

I am sure it will be able to compete with others on price and quality.
Just have good marketing, have a good name for your product( no chinease name it sounds fake to indians).

They will have hard time initially..

 

[Lankan Ranger]

 

[Lankan Ranger]

 

[rcrmj]

I am sure it will be able to compete with others on price and quality.
Just have good marketing, have a good name for your product( no chinease name it sounds fake to indians).

if going for good marketing they'd go for europ and north american``but india? i dont think so, the company report shows their initiatives going to india are the costs and the market, it showed india's supplier couldnt meet domestic market's aspiration in terms of quantity, quality and variety.

in terms of chinese products sound fake, u really need to take reality check, my computers, phones, tvs, cars even my BT internet routers are writine in chinese.

our compay has few factories around world, only had recently move few low-end to south east india, but remaining top-end ones in china, turkey and spain`

 

[desioptimist]

if going for good marketing they'd go for europ and north american``but india? i dont think so, the company report shows their initiatives going to india are the costs and the market, it showed india's supplier couldnt meet domestic market's aspiration in terms of quantity, quality and variety.

in terms of chinese products sound fake, u really need to take reality check, my computers, phones, tvs, cars even my BT internet routers are writine in chinese.

our compay has few factories around world, only had recently move few low-end to south east india, but remaining top-end ones in china, turkey and spain`

I guess you did not understand English, let me try again.

In India to succeed, you need to have good marketing along with good product. I guess good products is a given. But bad marketing can make or break your chance in India.

It is premature to say you will offer something that existing players dont, only your success will show that. We dont know that yet.

You get away with manufacturing for others, try branding something yourself and market it, you will know. Which chinease sounding product is accepted in western market?
Truck is big deal, I dont see any electronic brand with chinease name.
Wei Wei noodle is an exception, people will like chinease name food, if they want to go for it.