TAIPEI – China Motor Corp., Taiwan’s second-largest auto maker, says it has received approval from the Chinese government to take a 17% stake in a new DaimlerChrysler AG joint venture.

DaimlerChrysler Vans (China) Ltd. will be located in Fuzhou, China, and will produce Viano and Vito minivans and Sprinter transport vans by the end of 2008.

The €200 million ($259 million) JV is expected to have an annual production capacity of 40,000 units.

DaimlerChrysler holds a 33% stake in the JV and China’s Fujian Motor Industry Group holds a 50% share.