DaimlerChrysler AG's plans for a joint venture with China's biggest truckmaker, FAW, to produce heavy trucks in China have failed, sources close to the company told Reuters. DaimlerChrysler's truck head Eckhard Cordes broke off the talks, which had been going on for two years in China, one of the fastest-growing auto markets and an important part of DaimlerChrysler's truck strategy. According to an
DaimlerChrysler AG's plans for a joint venture with China's biggest truckmaker, FAW, to produce heavy trucks in China have failed, sources close to the company toldReuters.
DaimlerChrysler's truck head Eckhard Cordes broke off the talks, which had been going on for two years in China, one of the fastest-growing auto markets and an important part of DaimlerChrysler's truck strategy.
According to an article in the German business daily Handelsblatt, released ahead of publication on Wednesday, the Chinese company was not ready to accept a minority shareholding in the joint venture. DaimlerChrysler will now start to talk to smaller Chinese companies, the paper reported.
DaimlerChrysler declined to comment on the talks.
Voice your opinion!
To join the conversation, and become an exclusive member of FleetOwner, create an account today!
This free guide outlines simple steps for hiring and onboarding commercial drivers while ensuring that you meet Regulation Part 391 and maintain fully compliant driver qualification...
Ready to boost fleet efficiency by up to 50%? Learn how AI-powered dispatch and next-gen tech are transforming TMS workflows, improving driver planning, and streamlining operations...
Gain a strategic edge in today’s evolving fleet landscape. Join us to explore how fuel cards are helping fleet managers cut costs, enhance control, and prepare for an electrified...
