Daimler forms JV for truck production in China

  • 04-Feb-2009 04:44 EST

Beiqi Foton Motor Co. Ltd. and Daimler AG have agreed to form a 50-50 joint venture for manufacture of medium- and heavy-duty trucks in China. The JV will benefit from Daimler’s technology leadership, especially in the area of diesel engines, according to Daimler. The Chinese company’s Auman truck brand will serve as a platform for international growth in the lower-end commercial-vehicle segment. With formation of the new company, Daimler will have two commercial vehicle joint ventures and one passenger car joint venture in China, in addition to its financial services operations there. BAIC is the primary Chinese shareholder for both Beiqi Foton Trucks Ltd. and Beijing Benz-DaimlerChrysler Automotive Ltd.

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