Foton - Innovation Inspires Core Power

In China's auto industry, the development of Beiqi Foton can be described as a miracle. From a small company with equity of only over 100 million yuan to an industry-leading company with an annual sales income of nearly 30 billion yuan, from an unknown company to the "China's first brand of commercial vehicles", Foton Motors only spent 10 years. time.

Regarding this leap-forward development of Foton Motor, in an interview with “Sohu 2008 Made in China”, Wang Jinyu, general manager of Foton Motor, revealed the secret to reporters, which is continuous innovation.

August 28, 1996, Beiqi Foton Motor Co., Ltd. was incorporated in Beijing. Although the stock capital of the newly established Foton Motor was only RMB 141.4 billion, it can be described as a “start from scratch” in the automotive and capital-intensive industries. Wang Jinyu told reporters that Foton Motors had faced competitors with decades of development history from the very beginning, and it had a place in the industry. Foton Motors had no more way to go. The only way out is to take the road of state-owned enterprise reform, strengthen technological and managerial innovation, and become bigger and stronger.

In 1998, Foton Motor was successfully listed on the Shanghai Stock Exchange to realize the connection between the industry and the capital market. At the same time, it successfully achieved the advancement from the agricultural vehicle to the automotive industry, with the official listing of the first auto product “Fukuda Small Card”. , Foton Motor gradually established its position in the Chinese commercial vehicle industry.

In 2007, Foton sold 401,900 vehicles and realized sales revenue of 27.865 billion yuan. Among them, the sales of commercial vehicles are second only to Mercedes-Benz, ranking second in the world and first in Asia.

Foton Motor summed up its innovation as "integrated knowledge, linked innovation." In fact, the establishment of Foton Motor is a concrete manifestation of "integrated knowledge, linked innovation." In 1996, "100 Fook Futian Fields" was circulated as a story by the automobile industry. In the composition of 100 legal entities, there are 55 main engine supporting plants and 45 distribution companies. They are located in 13 provinces, municipalities and autonomous regions across the country, and they have spread over many companies in the automotive industry chain. From the perspective of innovation, the establishment of Foton Motor is not just the birth of a company. Instead, it is based on products and property rights. It closely links suppliers and distributors and forms a framework for the company's value chain and innovation. .

In recent years, Foton Motor has increased investment in R&D every year. The deputy general manager Yan Xuebin told the reporter that the average amount of independent innovation of the company has reached 3.5% to 4% of the sales revenue, and the average annual growth rate has reached 153%, which is a leading position in the industry.

Wang Jinyu also described the future blueprint of Foton Motor to the reporter. According to the "Eleventh Five-Year Plan" development plan, Foton Motor will have sales of one million cars by 2010, overseas sales will account for 20%, sales revenue will be 80 billion Yuan, and it will become Asia's first-class car. Enterprises, world-renowned car brands.
View related topics: Beiqi Futian, Futian Automobile brand value of 22.157 billion yuan

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