Daimler, Foton to Produce Heavy-Duty Trucks in China
December 02 2020 - 5:17AM
Dow Jones News
By Kim Richters
Daimler Truck AG said Wednesday that it will start the
production of heavy commercial vehicles with its joint-venture
partner Beiqi Foton Motor Co. Ltd. in China.
The companies will produce the trucks for the Chinese market
through their joint venture Beijing Foton Daimler Automotive Co.,
Ltd., which will invest more than 485 million euros ($581.8
million) for the acquisition of a plant and the set-up of new
infrastructure and production lines.
"China, the world's largest truck market, is of utmost
importance to us and has become one of our important markets for
future growth," Daimler Truck Chief Executive Martin Daum said.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
December 02, 2020 05:02 ET (10:02 GMT)
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