Daimler and Beiqi Foton Motor Co., Ltd. have made significant progress in the negotiations on the establishment of a joint venture with an equal share of both parties. Premier Wen Jiabao and German Chancellor Angela Merkel attended the signing ceremony of the joint venture between the two parties. Recently, the joint venture was formally approved by the relevant government agencies.
Newly established joint venture company will expand Daimler's business in China, including commercial vehicle segment market
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