DaimlerChrysler Will Buy 24% Stake in Beiqi Foton Motor Co.
DaimlerChrysler is the Worlds's Largest Truckmaker.
Now they have announced they will buy a 24% stake in Beigi Foton Motor Co. of China.
The price tag for 24% is $104 million. Seems awful cheap for a 24% stake in a truck maker…unless you don't have $100 million.
DaimlerChrysler made more money last year from selling trucks and buses than it did from its Mercedes Car Group.
When they start selling trucks in China, the gap is likely to grow even bigger.
China expects truck and bus sales to hit 3 million units this year, up 20% from last…and then 10% per year for the duration.
DaimlerChrysler already has two partnerships in China…Yaxing Benz Co. and Fujian Motor Industry.
No doubt, the company is hoping that three is a charm.
What do you think?
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