Daimler, Foton to Begin China Truck Production in 3Q
Daimler AG and Beiqi Foton Motor Co.’s Chinese joint-venture will produce its first vehicle in the third quarter of this year, Daimler said.
The joint venture, Beijing Foton Daimler Automotive Co. Ltd., “will enable Daimler’s commercial vehicle division to participate extensively in the Chinese market for medium- and heavy-duty trucks,” Daimler truck chief Andreas Renschler said.
Daimler and Foton received Chinese government approval for the 50-50 joint venture in September.
Foton will contribute its existing Auman medium- and heavy-duty truck business, including the production sites and the sales and service network, Daimler said in a statement posted on the company’s website Saturday.
Foton sold more than 100,000 medium- and heavy-duty trucks last year, making it a key player in China’s truck market, the statement said.
