(Yicai Global) Oct. 16 -- Beijing-based automaker Beiqi Foton Motor Co. [SHA:600166] and US engine manufacturer Cummins Inc. [NYSE: CMI] signed a green power and smart truck cooperation agreement, marking a new milestone in the decade-long cooperation between the two firms.
The pair signed the contract at the eighth session of the US-China Energy Efficiency Forum held in Denver, Colorado, state-owned China News Service reported on Oct. 14. The forum, held on Oct. 13, was co-hosted by China's National Development and Reform Commission and the US Department of Energy.
Transforming only auto parts will not meet goals for energy conservation and emission reductions, systematic improvements must be mate, said Gong Yueqiong, chief executive at Foton Motor. The cooperation on smart trucks will include green power the Internet of Vehicles.
Foton and Cummins have been working together for 10 years, and the pair have set up a system research and development center in Beijing, said Steven Chapman, Cummins' vice president. He hopes the US-China trade environment remains stable and continues to benefit both nations.
More than 10 companies and institutions from the two countries signed deals at the forum in a bid to promote energy conservation and low-carbon economic development models.