Daimler, Foton say will start making Mercedes Benz trucks in China
Germany’s Daimler AG 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.