BAIC Foton signs memorandum of cooperation for chemical plant localization in Saudi Arabia

On June 24, according to Foton Motor, Beiqi Foton recently signed a memorandum with the Saudi government and enterprises for the construction of a localized factory, and delivered 1000 school buses to Saudi customers. Specifically, on June 19, Foton International Trade, Saudi Investment Department, Saudi National Industrial Development Center, and Saudi renowned company Petromin signed a four-party memorandum to jointly build a commercial vehicle localized manufacturing factory in Saudi Arabia, mainly producing heavy trucks, light trucks, and buses. On June 21, Beiqi Foton officially delivered 1000 customized school buses to Saudi major customers, which will be used for daily commuting of local students, serving Riyadh and the southern city of Jizan in Saudi Arabia.