Beijing, September 2017 – The Chairman and CEO of Piaggio & C. S.p.A. (PIA), Roberto Colaninno, and the CEO of Foton Motor Group, Mr. Wang Jinyu, signed an important preliminary agreement in Beijing for the strategic development of a new range of four-wheel light commercial vehicles.Over the coming months, a work team made up of representatives from the two companies will examine the manufacturing and commercial plans and draft the final contractual documents. Assuming the positive outcome of these activities, the aim is to finalize the technical documentation for the project and the relevant contracts by Spring 2018.
The objective of the agreement, as a strategy to strengthen and modernise the offerings of the Piaggio Commercial Vehicles division consistently with the strategic guidelines of the Piaggio Group, is the development of a new range of commercial vehicles to enable the Piaggio Group to achieve significant expansion in relevant markets while simultaneously achieving important cost reductions. The positive growth outlook of the sector has played an important role in the creation of a research and production platform to help the Piaggio Group to strengthen its positioning and expand in international markets.
Different types of vehicles are being planned in the range of mini pick up and minivan models, for transportation of both passengers and cargo, to meet the growing demand for commercial mobility solutions particularly suited to intra-city travel. They will be equipped with latest – generation eco-friendly engines and state-of-the-art technological features. All the vehicle types will have a payload capacity up to 1.5 tons.
The new range of products will be manufactured in the Piaggio Group’s Italian factories, using the existing lines dedicated to the current production. The models will be gradually launched in the next few years starting from 2019 through a distribution network which is oriented to gain maximum customer satisfaction.
The Piaggio Group, which is a leading European player in the two-wheeler segment, in 2016 sold 188,000 commercial vehicles worldwide, confirming its growing importance also as a producer of three and four-wheel light commercial vehicles for transportation of both passengers and cargo.
Foton Motor Group, the biggest commercial vehicle industry among China with a total turnover of around 46.5 billion CNY and around 40.000 employees around the world, displays a complete range of products offering high added technological value. It is achieving rapid growth and diversifying its international operations, in part through joint ventures with leading names in automotive, including an alliance with Daimler AG and Cummins Inc.
About Piaggio Vehicles Private Limited:
Piaggio Vehicles Private Limited (PVPL) is a 100% subsidiary of Piaggio Group, founded in 1884, leader of the European powered two-wheeler market. The Group manufactures scooters and motorcycles as well as three and four wheeled commercial vehicles with an impressive portfolio of brands including Piaggio, Vespa, Aprilia, Moto Guzzi and Apé.