Mexico City, Mexico — Foton Mexico has said they will build a manufacturing center and warehouse in Mexico. Richard Fu, President of Foton Overseas, says the plant will meet the demand for cars and auto parts in the Latin American markets.
He said with the new factory, the Chinese brand will be placed in the top three of commercial vehicles in Mexico.
The company currently has 20 distributors throughout Mexico, however, Fu says their goal for the end of 2023 is to add 12 more to close with 32. He added that by 2024, they are hoping to double their dealerships, which would give them around 60 service points.
Fu explained that due to the growth, Foton will also be moving to a new headquarters in Mexico City. He says there, their 620 square meter office will employ 80 people. The investment is anticipated to be around 10 million pesos.
José Manuel Armenta, President and CEO of Foton México, explained in the medium term, the car brand will be 100 percent electric. To date, the Chinese company specializes in sustainable model trucks, buses and pickups.