Daimler: to jointly produce tractors for Chinese market
(CercleFinance.com) - Daimler Truck AG and Beiqi Foton Motor Co have announced their joint production and distribution of Mercedes-Benz tractors for selected market segments in China.
The joint venture between the two partners, Beijing Foton Daimler Automotive (BFDA), will build new models of heavy-duty tractors "made in China for China", which are fully adapted to the requirements of Chinese customers, Daimler announced.
Production of the heavy tractor models is scheduled to start in two years' time at a new truck plant in Huairou (Beijing) owned by the BFDA. The joint venture will invest over RMB 3.8 billion (more than 485 million euros) to acquire the plant and set up new infrastructure and production lines.
Details on product specifications and market introduction will be announced at a later stage, Daimler said.
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