On September 20, the joint venture and cooperation agreement between Beiqi Foton Motor Co., Ltd. and German Daimler AG was formally approved by the Ministry of Commerce. At this point, the joint venture that has been negotiated for several years has finally settled.
On July 14, 2010, the joint venture between Foton Motors and Daimler Auman Heavy Truck was approved by the National Development and Reform Commission and the project achieved a major breakthrough. On September 20, 2011, the Ministry of Commerce approved the joint venture between Foton Motors and Daimler. "Operating Contracts", etc., Auman Heavy Trucks Joint Venture will soon be established. It is reported that the total investment of the joint venture project is 6.35 billion yuan, of which the registered capital is 5.6 billion yuan, including 2.8 billion yuan in kind after the evaluation of Fuman's Auman business, and Daimler's cash contribution of 2.8 billion yuan. The difference is partially resolved by bank loans.
Foton’s heavy-duty trucker Auman will also become Daimler’s heavy truck brand. This will help Auman accelerate its internationalization.
It is understood that the future joint venture company will invest in the creation of a technology center, which will enable it to independently develop, develop and improve the research and development capabilities of existing vehicles. It is necessary to develop a globally competitive medium- and heavy-duty card new product suitable for the joint venture company, and to support the joint venture company as the R&D center function for both parties' global cooperation. Daimler AG will provide technical support with expert guidance, technical training, and necessary development of technical software and hardware to achieve overall optimization of Futian Auman's products and adaptability of the OM457 engine. Suitable for Futian Auman products.
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