Stuttgart, Germany – Daimler Trucks has received its final approval from the Chinese authorities for a joint venture with a Chinese truck company.
The venture, Beijing Foton Daimler Automotive Company (BFDA) has received its approval from the Chinese Ministry of Commerce.
“This is an important step for the global growth strategy of Daimler, as well as the local expansion of our portfolio,” said Dr. Dieter Zetsche, chairman of the board of management of Daimler. “With our 50 per cent stake in Beijing Foton Daimler Automotive, we are further strengthening our position as an important player in the China market. Having now received the final green light for the joint venture, this also sends out a clear signal that we deliver on what we promise.”
In 2010, some 1.2 million trucks over six tons GVW were sold in China. Forecasts indicate that about 1.5 million such trucks will be sold annually in the country from now until 2020.
Daimler will contribute its technical expertise to the joint venture, especially in the area of diesel engines and exhaust gas systems. Localized production of Mercedes-Benz engines will be an integral part of future operations at the joint venture.
Both partners will use Foton’s truck brand name Auman. Foton entered the truck business in 1998 and sold almost 105,000 medium- and heavy-duty trucks. A second truck plant is being ramped up, which will give the joint venture a total production capacity of 160,000 trucks.