Established in 1998, the company now has assets totalling 2.2 billion euros and 15,000 employees. In 2015, sales revenues amounted to 2.95 billion euros.
Lovol has research and development centres in Italy, Japan, and China. The distribution network of Lovol tractors extends across 120 countries located on all the continents.
Weifang Harvesting Machinery Factory of Beiqi Foton Motor Co., Ltd., was established
Model FT500 \ FT600 \ FT700 large and medium-sized tractors grandly entered the market.
The company's first loaders rolled off line, marking the company’s entrance to construction machinery field and beginning of the diversified development phase.