(Yicai Global) Oct.19 -- Beiqi Foton Motor Co. [SHA:600166] has received the world's largest commercial order of hydrogen fuel cell buses.

The firm has spent over 10 years researching and developing its hydrogen fuel cells. It has already commercialized hydrogen fuel cell buses and was the first company to do so. It was also first to truly industrialize the technology and carry out large-scale, worldwide operations.

Founded in 1996 and listed on the Shanghai exchange in 1998, Foton is the largest commercial vehicle company in China. It has assets worth over CNY69 billion (USD10.45 billion) and nearly 40,000 employees. The firm ranked 34th among China's 500 most valuable brands in a list compiled by the World Brand Laboratory in June 2017. Its CNY112.6-billion (USD17-million) valuation ranked it top in the commercial vehicle sector for the 13th straight year and placed it fourth in the automotive industry.