Foton Motor Announces Personnel Adjustment, Lu Zhenghua to Take Over as General Manager

MaticHoleFiller · 2026-03-17T06:18:21+00:00

Foday Automobile announced personnel adjustments, recommending Lu Zhenghua as the new director and general manager, with Wu Xibin stepping down. This marks the second major personnel change within the year. The company projects net profit of approximately 1.33 billion yuan for 2025, with sales volume of 650,000 units, actively advancing its new energy strategy.

MaticHoleFiller

2026-03-17 06:18:21

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Xinjingbao Shell Finance News (Reporter Zhang Bing) Foton Motor announces personnel adjustments. On March 16, Foton Motor released an announcement stating that, according to a letter from BAIC Group, Lu Zhenghua is recommended as the company’s director and general manager, and Wu Xibin will no longer serve as director and general manager. The company will follow legal, regulatory, and Articles of Association procedures to complete the relevant review processes as soon as possible.

According to Foton Motor’s official website, Lu Zhenghua previously served as Vice President of BAIC Foton Overseas Business Department and Executive Vice President of the Heavy Commercial Vehicle Business Division, Deputy Director and Deputy Party Secretary of the Engineering Research Institute, Vice President of BAIC Foton Motor Co., Ltd.; he is currently Executive Vice President of BAIC Foton Motor Co., Ltd., Director of the Engineering Research Institute, and Director of Beijing Foton Daimler Automotive Co., Ltd.

This change is also the second major personnel adjustment for Foton Motor this year. On January 30, BAIC Group held a cadre meeting, announcing that Chang Rui, Secretary of the Party Committee and Chairman of BAIC Foton, would serve as Deputy Secretary of the Party Committee, Director, and General Manager of BAIC Group.

BAIC Foton’s 2025 performance forecast shows an expected net profit attributable to the parent company’s owners of about 1.33 billion yuan in 2025, a year-on-year increase of 1551%; net profit after deducting non-recurring gains and losses is about 820 million yuan, turning losses into profits.

In terms of sales, in 2025, Foton Motor is expected to achieve a total sales volume of 650,000 units, a year-on-year increase of 5.85%. Among them, new energy vehicles will reach 101,200 units, an increase of 87.21%; overseas market sales will be 164,500 units, an increase of 7.27%.

Foton Motor stated that it is firmly advancing the “Full New Energy” strategy, clearly defining the “New Energy 30.50 Strategy,” which plans for the proportion of new energy to exceed 50% by 2030 and to become a global leader in green transportation ecosystems by 2050.

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