Foton Mobility Distribution (FMD) CEO and Founder Neil Wang has reacquired a 50 percent shareholding in the company, alongside bus industry professional Scott Riley, formerly held by Go Zero Group.
The transaction ends a four-year relationship with Go Zero Group and is said to reflect the changing nature of FMDâs operation in Australia as it looks to maintain its spot at the top of the zero-emission commercial vehicle sales ladder.
Following the acquisition, Mr Riley will join the FMD Board as a Director, bringing decades of public transport experience after building, owning and operating North Sydney Bus Charter â the largest charter bus operator in Australia at the time of its sale to Go zero Group in 2023.
âI am looking forward to continuing a long-term association with Neil Wang and the FMD team,â Mr Riley said.
âWith Neilâs undoubted enthusiasm for the zero emissions transition, and my experience founding, building and running a 250-bus fleet, I believe together we cam elevate the customer experience to new heights.â
FMD is one of four companies recently awarded a contract to supply battery electric buses to Transport for NSW, which has prompted the company, and its associated entity KRW Hydron, to build a new facility in South Nowra.
The proposed 6,000sqm purpose-built facility will assemble and deliver 126 buses between June, 2025, and January, 2027, creating employment opportunities for locals in the process.
