Daimler plans engine plant JV
Source: Bloomberg News |
July 20, 2012, Friday
|
Print Edition
Print Edition
DAIMLER AG, the world's biggest truckmaker, plans a 135-million-euro (US$166 million) joint venture engine plant in China to fend off competition from an alliance Volkswagen AG is forming with Scania AB and MAN SE.
The factory in Beijing will be part of Daimler's truckmaking partnership with China's Beiqi Foton Motor Co and have capacity to make as many as 45,000 engines a year for the Auman commercial-vehicle brand, the companies said in a statement yesterday. Construction is scheduled to start in the first half of next year and be completed in 2014.
"We are consistently applying our principle of operating as globally as possible on the one hand and as locally as necessary on the other," said Andreas Renschler, head of the Daimler Trucks division.
The Beijing Foton Daimler Automotive venture is on schedule to start making Auman models in the third quarter, the Stuttgart, Germany-based company said on June 22. Daimler is facing increased competition in trucks from Volkswagen, which appointed veteran Scania Chief Executive Officer Leif Oestling on June 1 to lead the integration of Soedertaelje, Sweden-based Scania and Munich-based MAN, in which VW has controlling stakes.
Daimler's Beijing plant will make engines for the Auman brand of the type currently used by the German firm's Mercedes-Benz commercial vehicles in Europe and South America.
The factory in Beijing will be part of Daimler's truckmaking partnership with China's Beiqi Foton Motor Co and have capacity to make as many as 45,000 engines a year for the Auman commercial-vehicle brand, the companies said in a statement yesterday. Construction is scheduled to start in the first half of next year and be completed in 2014.
"We are consistently applying our principle of operating as globally as possible on the one hand and as locally as necessary on the other," said Andreas Renschler, head of the Daimler Trucks division.
The Beijing Foton Daimler Automotive venture is on schedule to start making Auman models in the third quarter, the Stuttgart, Germany-based company said on June 22. Daimler is facing increased competition in trucks from Volkswagen, which appointed veteran Scania Chief Executive Officer Leif Oestling on June 1 to lead the integration of Soedertaelje, Sweden-based Scania and Munich-based MAN, in which VW has controlling stakes.
Daimler's Beijing plant will make engines for the Auman brand of the type currently used by the German firm's Mercedes-Benz commercial vehicles in Europe and South America.
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