Piaggio, Foton Motor Group sign joint development agreement

Roberto Colaninno, chairman and CEO of Piaggio & C. S.p.A., and Wang Shuhai, vice general manager of Foton Motor Group, recently signed a preliminary agreement in Mantua.

The agreement permits the development of a new range of four-wheel electric light commercial vehicles, consolidating the partnership set up by the two groups in 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 finalizing the technical documentation for the project and the contracts by Spring 2023.