7.22Beijing Auto eyes Fujian-Daimler CV venture

Beijing Auto eyes Fujian-Daimler CV venture

 

http://autonews.gasgoo.com/auto-news/1011403/Beijing-Auto-eyes-Fujian-Daimle
r-CV-venture.html

 

Shanghai, July 22 (Gasgoo.com) Beijing Automotive Industry Holding Corp
(BAIC) is in talks with Fujian Motor Industry Group in southeast China to
replace it as the local partner in a commercial vehicle venture with Daimler
AG, Reuters reported today, citing a source.

 

Beijing Auto, which already makes Mercedes-Benz cars in partnership with
Daimler in China, wants to take over the 50% stake held by Fujian Motor in
its van manufacturing venture with the German automaker.

 

Fujian Daimler Automotive Co., Ltd., in which Daimler and Taiwan's China
Motor Co hold a 34% and 16% stake, respectively, was established in June
2007, with an annual capacity of 40,000 units. The facility, based in Fuzhou
city, capital of Fujian province, will start making Vito and Viano vehicles
later this year and Mercedes-Benz Sprinter next year.

 

Earlier this year, Daimler reached agreement with Beijing Auto's subsidiary
Beiqi Foton Motor to make heavy-duty trucks. If the deal with Fujian Motor
comes through, it could be the third vehicle manufacturing venture between
Beijing Auto and Daimler.

 

Daimler's Mercedes-Benz unit, which rivals BMW globally, sold 27,000 cars in
China in the first half, up 50% year on year. Local production of the
all-new Mercedes-Benz E class sedan will start in October, with China-made
parts accounting for 40%.

 

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