Uzbekistan, China launching new car brand
Baku, Azerbaijan, Feb. 27
By Fakhri Vakilov – Trend:
Production of the Chinese Foton trucks will begin in the Uzbek region of Namangan in September this year, Trend reports via the Uzbek media.
The production of medium trucks will be established in city of Pap. Its founders will be the domestic company Foton Do’stlik Servis and the Chinese Foton Motor.
“We originally planned to produce cars in 2018, but for objective reasons, we had to reconsider the starting date of the project. For us, the good news was that our project was included by a presidential resolution to the 2019 Investment Program. Preparations for production will begin soon, and we will start manufacturing cars by September 2019,” head of Foton Do’stlik Servis Vahid Hamidov said.
He stated that 51 percent of the shares in the new plant belong to Uzbekistan, 49 percent belong to China.
Hamidov also said a partner from China, Urumqi Xin Xi Xin Sheng International Trading is investing $14 million in the project.
The estimated capacity of the plant is 500-1,000 cars per month. The Uzbek side received a license to manufacture four types of medium trucks of the Chinese company, as well as the Foton View CS2 Supporter minibuses.
All products will be released under the UzFoton brand.
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