DaimlerChrysler investing in Chinese truck maker
Sep 11, 2003 12:00 PM
DaimlerChrysler AG said it would to buy a stake in China's truck maker Beiqi Futian Automobile Co., Bloomberg reported today. The acquisition is part of a $1.1 billion investment between DaimlerChrysler and Beijing Automotive Holding Industry Co. The companies said they would make both cars and trucks in China, Bloomberg said. The Chinese market is expected to grow sixfold by 2010, Bloomberg said. Futian, China's biggest light-duty truck maker, said sales would rise 58% to $1.5 billion.
