SHANGHAI — Shanghai Automotive Brake System Corp., a joint venture between Shanghai Automotive Industry Corp. and Germany's Continental Teves AG, has received approval from the government to begin a technical project that will produce anti-lock braking systems for medium- and high-end cars. The company's total investment in the technical project is reportedly RMB198 million (US$24 million) and is expected to produce 1 million sets of antilock brakes by 2002. The JV is expected to have a ...

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