ZHENGZHOU — German commercial vehicle producer MAN Nutzfahrzeuge AG signs a letter of intent with Zhengzhou Yutong Bus Co. Ltd., a leading bus producer based in Henan province, to build mid-to-luxury large- and medium-size buses. The two sides intend to launch a joint venture with a total investment of US$99 million, split 50-50 between the two partners. The JV mainly will produce buses and chassis systems, with a capacity of 2,000 annual units. The Chinese partner will invest land, ...
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