Daimler, Foton say will start making Mercedes Benz trucks in China
Reuters
Published Dec 02, 2020 02:41AM ET
BEIJING/SHANGHAI (Reuters) - Germany's Daimler AG (DE:DAIGn) and its China commercial vehicle partner Beiqi Foton Motor Co Ltd will invest 3.8 billion yuan ($579.21 million) to make Mercedes Benz-branded heavy duty trucks in Beijing, the companies said on Wednesday.
Kelley Platt, the joint venture's CEO, made the announcement at a company event. Zhang Xiyong, general manager at BAIC Group, parent of Foton, announced the investment amount. The companies added that production will start in two years.
Reuters reported that the companies had such a plan last month.
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Written By: Reuters
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