China's Foton, Daimler formally sign truck JV

Newswire

BERLIN, Jan 29 (Reuters) - Chinese truck maker Beiqi Foton and Germany's Daimler AG on Thursday formally signed a previously agreed truck venture. The deal, signed during the visit of Chinese Premier Wen Jiabao in Berlin, follows the two companies' announcement earlier this month to set up a 50-50 truck venture with a total investment of 6.35 billion yuan. The Chinese firm said then that Beijing Foton Daimler Automotive Co would start producing diesel engines in 2011 and trucks in 2012, ...

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