FOTON Announced its New Energy Strategy 2.0

BEIJING, April 25, 2023 /PRNewswire/ -- FOTON held the New Energy Vehicle Conference on April 13th in Beijing, announcing the company's upgrade of its new energy vehicle strategy to 2.0 from 2023. With the New Energy 30•50 business strategy, FOTON aims to have new energy vehicles account for more than 50% of its total sales by 2030 and become a world-class new energy commercial vehicle enterprise. FOTON also aims to achieve carbon neutrality by 2050 and become a global leader in green transportation ecology.

In 2022, FOTON's overall sales reached 460,000 vehicles, with new energy vehicle sales of 21,761, representing a year-on-year increase of 154.81%. Chang Rui, the chairman of FOTON stated that the company regards the new energy strategy as its primary development strategy, and it invests in the new energy main track, accelerating development around the full value chain, including investment, research and development, supply chain, business models, and marketing ecology.

FOTON started the research and development of new energy vehicle technology as early as 2003, becoming the first Chinese company to commercialize hydrogen fuel cell vehicles and pure electric products. It successfully served international high-end events such as the 2008 and 2022 Olympic Games. FOTON has independently developed pure electric, hybrid, and hydrogen fuel cell technologies and its new energy products, including electric light trucks, vans, and buses have passed the WVTA EU certification and are now fully entering Italy, Poland, Spain, and other European countries, while partnering with European light commercial vehicle companies.

It is understood that the specific implementation path of Foton's New Energy Strategy 2.0 is the "1-2-3-X" architecture. "1" refers to a goal of becoming a world-class new energy commercial vehicle enterprise. "2" refers to two markets, China and overseas. "3" refers to the three-pronged approach of product leadership, technology leadership, and ecological chain integration. "X" includes exclusive platforms, independent technology, core modules, low-carbon industrial chains, business ecology, intelligence, energy technology, ecological technology, and others.

With a sales target of 150,000 new energy vehicles by 2025, FOTON will initially establish a new energy ecological closed-loop system of "vehicle + charging pile + solar energy + storage + cargo + intelligence". By 2030, in cooperation with ecological partners, FOTON's new energy new ecology will become the largest producer of electric commercial vehicles, and the largest provider of clean energy in the new energy commercial vehicle market.

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