Iveco and Foton, a leading commercial vehicle manufacturer in China, have signed a Memorandum of Understanding (MoU) to explore potential collaboration in electric vehicles and components, as well as joint business opportunities in Europe and South America.
Both Iveco and Foton share a commitment to advancing the green transformation of the global automotive industry. They are pursuing various new energy technologies, including pure electric, hybrid, and Hydrogen fuel cells for commercial vehicles. This partnership aligns with Iveco Group’s strategy to expand its electrification offerings, particularly in the light commercial vehicle segment.
The collaboration will explore the commercialisation of an electric panel van in Europe and South America, focusing on the lightest category of up to 3.5 tonnes GVW. This initiative is expected to positively impact regional and local supply chains and support the growth of Iveco’s sales and workshop network in these regions. Earlier this year, Iveco Group signed a supply agreement with Hyundai Motor Company for an electric GVW 2.5 to 3.5-tonne chassis cab to be sold and serviced in Europe by Iveco. These collaborations aim to expand Iveco’s range of electric commercial vehicles in the light vehicle segment.
The MoU also opens opportunities for further synergies, including potential localisation of activities in Europe and South America, which will be evaluated at a later stage. Discussions will include supply opportunities through Iveco Group’s powertrain brand, FPT Industrial.
The signing ceremony included key executives from both companies. Representing Iveco Group were CEO Gerrit Marx, President of the Truck Business Unit Luca Sra, President of the Powertrain Business Unit Sylvain Blaise, Chief Technology & Digital Officer Marco Liccardo, Chief Supply Chain Officer Angela Qu, and Chief Manufacturing Officer Ángel Rodríguez Lagunilla. Foton was represented by Chairman Chang Rui, Executive Vice President Lu Zhenghua, Vice President Chen Qingshan, Vice President Qin Zhidong, Vice President of International Cooperation Ma Rentao, and Vice President of Power Transmission Feng Jing.
