China Yuchai and Foton Form New Strategic Partnership
China Yuchai International Limited (CYD)
Last china yuchai international limited earnings: 3/30 06:00 am
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Source: PR Newswire
SINGAPORE, July 29, 2019 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai"), a leading automotive manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today that it has entered into a new strategic partnership with the Foton Motor Group ("Foton") to enhance their core competitiveness. Since its inception in 1996, Foton, as a subsidiary of the Beijing Automotive Industry Holding Co., Ltd., has become one of the top 5 players in China. Foton produces a wide range of commercial vehicles including light-duty, medium-duty and heavy-duty trucks, vans, pickup trucks, buses, and construction machinery vehicles. GYMCL and Foton have reached agreement on a series of important areas of cooperation such as product support for National VI-compliant engines and technologies, overseas market development, and new energy product development. Th
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