Automobile manufacturers Foton have decided to invest approximately $2.5 million (Sh257.25 million) to restore their market share in the East African region, with the emphasis on Kenya and its ever-expanding automobile market.
“We have coordinated with our dealer and partner in Mombasa with the total investment amount of up to $2 million and are launching a local manufacturing plant for a total investment of around $500,000 for an assembly line,” Foton Motor Kenya president Apple Sun said yesterday.
The manufacturing units of the company will also have a mandate to produce four units on a daily basis within the first half of the year.
“The target is to hit 1,000 units this year which will come up to 8,000 units in five years,” he said during the launch of its AUMAN EST heavy duty truck and SUV Sauvana.
Foton are expected to concentrate their efforts in manufacturing in Kenya. They will also aim to fortify the quality of their after-sales and financial support services, in a move that will better their competitive edge in the automotive industry and help facilitate further development.
Foton has also announced partnerships with Cummins Car and General Electric among others to increase their volume of sales in Kenya and East Africa.
