Daimler Launches JV with Fujian & China Motors
Daimler AG has launched a $300 million joint venture with Fujian Motors Group (FJMG) and Taiwan-based China Motors Corp (CMC).
The new entity - Fujian Daimler Automotive Ltd (FJDA) will make 40,000 Mercedes-Benz multi-purpose vehicles (MPVs) annually.
The new 660,000 sq meter facility will cost $295 million.
Nearly 3,000 people will be employed.
Daimler sells 200,000 MPV/Transporters in China each year and expects the market to grow to 500,000 every year.
FJDA will be able to contribute 40,000 vehicles.
Do you think China NEEDS to depend on foreign car makers to catch up in the auto industry?
Tags: 3980, 4237POSTED IN: All about China
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