China based Beiqi Foton Motor today made an announcement that they will enter the Indian Auto market with a host of LCV and MCV in their first year. Foton has singned a MoU with the Maharashtra government and decided to invest Rs 1,676 crore setting up a manufacturing plant in Pune which will produce the company’s vehicles, with launches beginning in 2013.
Foton as a parent company has 10 major brands which are Auman, Auv, Aumark, MP-X, Midi, Saga, View, SUP, Ollin and Forland. India will be the first country where it will set up a plant apart from its home country China. The company has operations in Russia, Iran, Pakistan, Vietnam, Indonesia and Kenya and exports to over 100 countries around the globe.