The Italian Piaggio Group and the Chinese Foton Motor to jointly produce new electrically powered light commercial vehicle

The Italian Piaggio Group and the Chinese Foton Motor to jointly produce new electrically powered light commercial vehicle

(PRESS RELEASE) MANTUA, Italy, 29-Nov-2022 — /EuropaWire/ — Piaggio & C. S.p.A. (PIA.MI), one of the world’s leading companies with focus on the light mobility market, has announced a new preliminary partnership agreement with Foton Motor Group, a Chinese enterprise with a business scope covering a full series of commercial vehicles including medium and heavy-duty, aimed at the development of a new range of four-wheel electric light commercial vehicles. The new agreement consolidates the partnership established by the two groups 5 years ago (September 2017) for joint development of innovative solutions for the light commercial vehicles market.

Over the coming months, a team of representatives from the two groups will work on the development and approval of a production and commercial plan and on the contractual documents with a view – in the event of a successful outcome of the above activities – to finalising the technical documentation for the project and the contracts by Spring 2023.

For further information:

Corporate Press Office
Diego Rancati
Via Broletto, 13 – 20121 Milan
+39 02 319612 19
diego.rancati@piaggio.com

Product and Racing Press Office
Paolo Pezzini
+39 02 319612 18
paolo.pezzini@piaggio.com
press@piaggio.com

Investor Relations
Raffaele Lupotto
Viale Rinaldo Piaggio, 25
56025 Pontedera (PI)
+39 0587 272286
investorrelations@piaggio.com
piaggiogroup.com

Image Building
Via Privata Maria Teresa, 11 – 20123 Milan – Italy
+39 02 89011300
piaggio@imagebuilding.it

SOURCE: Piaggio & C. SpA

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