Daimler Announces Joint Venture For Trucks In China
Emmanuel P February 20, 2012
On February 18, Daimler and Chinese partner Beiqi Foton Motor Co., Ltd. formally presented to the public their license confirming the birth of their joint venture Beijing Foton Daimler Automotive Co., Ltd. BFDA allows for Daimler’s commercial vehicle division to participate in the Chinese market for medium- and heavy-duty commercial trucks. With the market doubling in the last five years, this is a segment any vehicle manufacturer cannot ignore. At present, the Chinese market accounts for more than 40 percent of worldwide sales for medium- and heavy-duty trucks.
Stated Andreas Renschler, Member of the Board of Management of Daimler AG and Head of Daimler Trucks and Daimler Buses, “By founding BFDA, we have taken another step forward in the global growth strategy of Daimler Trucks, as well as the local expansion of our product portfolio in China: Our 50 percent stake in Beijing Foton Daimler Automotive will enable us to play a major role in the Chinese truck market and give us access to the attractive volume segment. With this joint venture now fully operational, we’re sending out a clear signal that we deliver on what we promise in developing Daimler Trucks’ worldwide strategy.”
