DaimlerChrysler AG receives approval from the Chinese government to form a joint venture with Taiwan’s China Motor Corp. and Fujian Motor Industry Group to build Mercedes-Benz Sprinter, Vito and Viano vans. The JV partners plan to invest $245.1 million in a new manufacturing facility in the city of Fuzhou in the Fujian province. Production capacity will be limited to 40,000 units annually with output beginning at the end of 2005.
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