BEIJING — First Auto Works-Jinbei Automotive Co. Ltd. and Doseo Trading Co. Ltd. of South Korea launch a joint venture named Shenyang Doseo Wheel Co. Ltd. to produce aluminum-alloy wheels for light vehicles. The new company's total investment is RMB174 million (US$21 million), with FAW-Jinbei holding a 40% stake. The JV is expected to produce 600,000 wheels annually. Under the agreement, Doseo will be responsible for exporting products to Korea, Europe and North America.
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