FOTON(SH:600166) 第一商用车网·2025-06-25 06:57Core Viewpoint - North Automotive Group's subsidiary, Foton, has successfully established significant collaborations in Saudi Arabia, including a memorandum for a localized manufacturing plant and the delivery of 1,000 school buses, marking a strategic move in the region's industrial transformation under the "Vision 2030" initiative [1][4][10]. Group 1: Localization and Regional Strategy - Foton has signed a memorandum with the Saudi government and local enterprises to build a localized manufacturing plant for commercial vehicles, focusing on heavy-duty trucks, light-duty trucks, and buses, which aligns with Saudi Arabia's industrial localization goals [4][5]. - The collaboration aims to enhance local manufacturing capabilities, strengthen supply chains, create job opportunities, and support the development of local SMEs, contributing to Saudi Arabia's industrial economic transformation [4][5]. Group 2: School Bus Delivery and Brand Establishment - Foton delivered 1,000 customized school buses to a major client in Saudi Arabia, designed for student commuting in Riyadh and Jizan, featuring advanced safety and comfort enhancements [8]. - The buses are equipped with a Cummins ISF2.8 engine for improved performance on steep roads, an ESC stability monitoring system for safety, and climate-optimized features for comfort in extreme weather [8]. Group 3: Strategic Implications and Future Goals - The signing of the localization memorandum and the bus delivery signifies a transition from product export to deep localization in Saudi Arabia, reinforcing the strategic partnership between China and Saudi Arabia in the automotive sector [10]. - Foton aims to accelerate its transformation towards becoming a world-class enterprise, focusing on comprehensive internationalization, new energy, and intelligent solutions, while driving a green technology revolution in the global transportation industry [10].