China-based automotive manufacturer Beiqi Foton Motor plans to set up an assembly plant in Indonesia to support its aim to enter the Asia Pacific market, Xinhua reported on Tuesday.
Dong Haiyang, vice president of Beiqi Foton Motor Co. and general manager of Foton International Trade Co. Ltd., said the automaker regarded Indonesia as an important market in the region.
"As a newcomer in the bus, truck and heavy duty vehicle market in Indonesia, we have set a target to secure 2% market share in our category within three years and to improve to 3% in the following two years," Haiyang said on the sidelines of the launch of a Foton Multi Purpose Vehicle (MPV) at the 2009 Indonesia International Motor Show.
The Beijing-based manufacturer has set up cooperation with two domestic firms, PT Foton Mobilindo and PT Foton Indonesia, that will handle distribution and import of heavy duty trucks.
It has allocated some $300,000 to develop after-sales service and secure spare parts supplies.
Haiyang said the investment in Indonesia would make it a production base for Foton market in the region, Bisnis Indonesia reported.