AutoBeta(AutoBeta.net)08/29 Report--

On August 28, Foton Motor released a new brand strategy and brand identity, and released two new products, Auman Zhilan bottom replacement heavy truck and Xiangling Q.

It is understood that this is the fourth brand renovation of Futian Motor, the official said that the new brand concept is to "make everything move more freely." At the press conference, Auman Zhilan bottom replacement heavy truck officially listed, Xiangling Q officially opened the global debut. Among them, Aumanzhilan bottom change heavy truck is suitable for coal transportation, less than a load branch line, short-and medium-distance transportation and other scenes, while Xiangling Q positioning "global micro-card new power", this car is also the first product after Futian brand rejuvenation.

BAIC Futian Automobile Co., Ltd. (hereinafter referred to as "Foton Automobile") is a holding subsidiary of Beijing Automobile Group Co., Ltd. (hereinafter referred to as "BAIC"), and BAIC is actually controlled by Beijing State-owned Capital Operation and Management Co., Ltd. behind it is the Beijing State-owned assets Supervision and Administration Commission. According to the data, BAIC Foton Automobile Co., Ltd. was founded in August 1996 and listed on the Shanghai Stock Exchange in 1998. It is a leading manufacturer of commercial vehicles and spare parts in China. Its business involves four major sectors: complete vehicles, spare parts, auto finance and automotive aftermarket. The whole vehicle business covers 6 business units and 18 product brands, including trucks, large and medium-sized buses, light buses, pick-up trucks, construction machinery and environmental equipment, and new energy vehicles, which has become the first commercial vehicle sales for many years in a row.

With the increasing penetration of new energy commercial vehicles, mainstream commercial vehicle companies, including Foton Motor, have also begun to accelerate the pace of electrified transformation. But in fact, it is not too late for Futian Motor to lay out the new energy field. Futian Motor started the research and development of new energy vehicle technology as early as 2003, established Futian New Energy vehicle Design and Manufacturing Industry Base in 2008, and established Zhilan New Energy Division in 2018 to achieve systematic operation. since then, it has launched pure electric and hydrogen energy commercial vehicle products, and promoted the landing application of power replacement heavy cards in different scenarios.

According to Foton Motor's 2023 half-year report, the revenue of Foton Motor Industry in the first half of 2023 was about 28.845 billion yuan, an increase of 24.5 percent over the same period last year; the net profit belonging to shareholders of the parent company was 606 million yuan, an increase of 178 percent over the same period last year; the net profit attributable to shareholders of the parent company after deducting non-recurring profits and losses was 410 million yuan, an increase of 463 percent over the same period last year.

According to the data, the net profit and growth of Foton Motor in the first half of this year are in the forefront of commercial vehicles. With regard to the substantial improvement in performance, Fukuda Motor said that it was mainly beneficial to the growth of the company's commercial vehicle sales and made higher achievements in the main business light trucks and the future transformation direction of new energy and overseas markets, which also laid the foundation for the transformation and development of Futian Motor.

In terms of sales, data show that the cumulative sales of Foton Motor in the first half of this year was 303900 (including joint venture Fukuda Daimler products), an increase of 21.5% over the same period last year, of which the market share of commercial vehicles was 15.4%, an increase of 0.7% over the same period last year, ranking first among commercial vehicles. Among them, the cumulative sales of Foton light trucks, the main selling model of Foton, was 207800 in the first half of the year, an increase of 22.6% over the same period last year, with a share of 17.3%, an increase of 1.7% over the same period last year; and new energy sales of 16318 vehicles, an increase of 104.92% over the same period last year.

According to the plan, after the brand rejuvenation, Foton Motor will accelerate the transformation to new energy vehicles, focus on the urban market, urban agglomeration market and trunk logistics market, and speed up the layout of new energy vehicle products around pure electricity, hydrogen fuel and hybrid technology. Chang Rui, chairman of Foton Motors, said that the penetration rate of Foton's new energy vehicles will reach 20% by 2025 and 50% by 2030. In addition, Chang Rui revealed that based on the new business strategic direction, Foton Motor will upgrade its brand structure. In the future, the Futian brand will cover vehicles, spare parts, digital technology and business ecology, and will continue to launch new brands such as electric drive axle, hybrid, hydrogen energy, carbon assets and so on.

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