M a r k e t N e w s

Foton Turn to Automotive Market in Kenya with Sh257.2 Million Investment

Posted on : Wednesday, 18th April 2018

Car manufacturers Foton have chosen to set-aside around $2.5 million (Sh257.25 million) to reestablish their position and regain their share of the market in East African, with Kenya as its main priority due to the rapid development of its automobile sector.
“We have coordinated with our dealer and partner in Mombasa with the total investment amount of up to $2 million and are launching a local manufacturing plant for a total investment of around $500,000 for an assembly line,” Foton Motor Kenya president Apple Sun said yesterday. 
The manufacturing units of Foton have also been tasked with increasing their output to four units daily during the 6 months of the year. 
“The target is to hit 1,000 units this year which will come up to 8,000 units in five years,” he said during the launching ceremony of its AUMAN EST heavy duty truck and SUV Sauvana. 
Kenya is expected to be the hub for manufacturing and other important activities like after-sales and financial support services. This move is designed to improve Foton's competitiveness in the automotive industry and assist in the company's further development. 
Foton has additionally entered in partnerships with Cummins Car and General Electric among others to increase sales in Kenya and other parts of East Africa.

Source : bizmap.com
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