Foton Motor Group is to transfer 67% of Borgward equity.

On October 8, IIA learned from Foton Motor Group that Foton listed on the China Beijing Equity Exchange to transfer 67% of Borgward. In this regard, Borgward official said: This action is to absorb and inject more new capital into the brand, and it is looking forward to introducing a new model from the future marketing strategy to achieve a win-win development. After the transfer of the equity completed, Foton will strengthen its main business of commercial vehicles and boost the development of passenger vehicles.

On October 8, Foton listed on the China Beijing Equity Exchange to transfer 67% of Borgward China. The pre-disclosure announcement period is from October 9 to November 5, 2018. It is reported that this transaction will be officially completed in the near future, but the party who will take over the equity has not yet determined. This transfer of equity also means the beginning of the adjustment of Foton's strategy.

On this May 9, Borgward held the 2018 Borgward Day Ceremony with the theme of “Borgward Academy of Engineering” at the 898 International Convention Center in Beijing. At the ceremony, Borgward officially issued its new brand value: CDB (Courage Driven by Borgward), Borgward USP (Unique Selling Proposition): Borgward Safety TIME-SPACE, and the world's leading three-dimensional sub-meter satellite positioning.

At present, Foton owns three major segments: commercial vehicles, passenger vehicles and auto finance. As one of the key directions of Foton Motor Group in the field of passenger vehicles, Borgward established a company with the forward R&D capability of the whole vehicle in only three years, and has formed a sound sales channel.

At the ceremony in May, Borgward released two new models, BXi7 and BX6, demonstrating its research and development capabilities in two major areas: fuel vehicles and new energy vehicles. According to the data released, the sales growth of Borgward soared up obviously in recent months. At this time, the transfer of 67% Borgward equity will also become one of the important factors to attract future investors.

For this equity transfer, Borgward announced: Adhering to the century-old engineering spirit, and with the support of our representing capital, Foton Motor Group, Borgward employees and dealers have been working hard after the Borgward Day, moving forward steadily, and achieving a steady growth in sales. This equity transfer is to absorb and inject more new capital into the brand, and it is looking forward to introducing a new model from the future marketing strategy to achieve a win-win development. We expected Borgward to develop much better and to usher in a brighter future under the support of our new representing capital.