Daimler will invest $1 billion with Chinese partner Beiqi Foton Motor Co in a truck venture in China. Appropriate business license granted Both have recently received a required business license from the Chinese Government. Each company will have 50 per cent of the business. Annual capacity set to increase for Beiqi Beiqi’s Foton factory will have an increased annual capacity of 160,000 as an adjustment to the new deal. The deal will start with production of trucks in the third quarter of this year. Foreign car makers looking to expand in China Daimler are not the only car makers looking

(Read More…)