Man, the world’s third largest heavy truck producer after Benz and Volvo, announced in middle October that it had acquired a 25% stake in Sinotruk, China’s top heavy truck builder, for $828 million. It also said it would provide engine technology for Sinotruk to meet State IV emission standards, roughly equivalent to EU pollution standard and this will be in force by the beginning of 2011.
Daimler, the parent company of Benz, and Beijing-based truck maker Foton now have an agreement to set up a joint venture in January 2010 to use the Benz engine and produce heavy trucks under the Foton brand. Co-investing $937.4 million each, each side will own 50 percent of the JV.
Jianghuai Auto Company (JAC), Central-China’s Anhui-based truck maker, has reached a framework agreement with NC2, a US-based heavy truck and diesel engine maker, to invest $293 million and provide cleaner engines for JAC’s heavy trucks.
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