The Chinese Ministry of Commerce, or MOFCOM, has approved the Beijing Foton Daimler Automotive joint venture between Daimler Trucks and Foton Motor, the companies said.
Daimler will reportedly contribute its technological expertise to the joint venture, especially in the area of diesel engines and exhaust gas systems so that Chinese emissions limits, ranging up to the Euro V standard, can be fulfilled. Localized production of Mercedes-Benz's redeveloped OM 457 engines will be an integral part of future operations of the venture.
"Both partners will use Foton's truck brand, Auman, as a platform to grow business in China and look at cooperation opportunities outside of China," said Wang Jingyu, CEO and president of Foton Motor.
Daimler will reportedly contribute its technological expertise to the joint venture, especially in the area of diesel engines and exhaust gas systems so that Chinese emissions limits, ranging up to the Euro V standard, can be fulfilled. Localized production of Mercedes-Benz's redeveloped OM 457 engines will be an integral part of future operations of the venture.
"Both partners will use Foton's truck brand, Auman, as a platform to grow business in China and look at cooperation opportunities outside of China," said Wang Jingyu, CEO and president of Foton Motor.
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