China Information

Monday, January 08, 2007

Daimler Chrysler, Fujian Automobile and Zhonghua Motor Got Approval for Establishing a Joint Venture

As reported by Shanghai Securities News recently, the plan on establishing Daimler Chrysler Vans Ltd. by Chinese Fujian Automobile, German Daimler Chrysler and Taiwan Zhonghua Motor got approval from the MOFCOM. The total investment of this joint venture amounts to over EUR200m.
It was also reported that Fujian Automobile and Daimler Chrysler held 50% and 33.78% shares respectively in this new company with the rest held by Zhonghua Motor. The planned annual production capacity of this new joint venture is 40,000 sets, mainly producing medium and light buses.

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