Foton and Daimler Mercedes-Benz Engines Realized for the First time
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Fukuda and Daimler finally ended their seven-year long love run and officially entered the marriage hall. Yesterday, Beiqi Foton and Daimler formally signed a joint venture agreement to establish a joint venture company in heavy trucks to produce Futian Auman trucks and Mercedes-Benz engines. At present, the agreement has been approved by the relevant national ministries and commissions.
According to the agreement, the total investment of the joint venture project of the two parties is 6.35 billion yuan and the registered capital is 5.6 billion yuan. The two parties establish a joint venture company with a heavy truck in accordance with 50%: 50% equity. Among them, Foton Motor Co., Ltd. contributed 2.8 billion yuan after the assessment of the existing Auman business detachable assets. Daimler contributed cash equivalents and the joint venture period was 50 years.
After the establishment of the joint venture company, it will produce Futian Auman's existing heavy-duty truck products and Daimler's licensed OM457 heavy-duty truck engine. After reaching production capacity, the joint venture’s total vehicle production capacity is 100,000 vehicles/year, and the OM457 engine is 45,000 units/year.
The factory of the Foton Daimler JV is located on the east side of Qingchun Road in Huairou District, Beijing. It was established on the basis of the original Auman Heavy-Duty Truck Plant. Futian's Auman Heavy Trucks and Daimler Engines are mainly produced in the future. Daimler Northeast Asia said that this is Daimler's second engine production base in China. It is the first time that the world-renowned Mercedes-Benz engine has been domestically produced. The engine is an OM457 heavy-duty truck engine, with emissions and power reaching Euro V and 460 hp respectively. 12 liters).
Renschler, president of Daimler Trucks, stated that the official approval of the Development and Reform Commission and the establishment of a joint venture between Beiqi Futian in China was an important milestone in the overall strategic development of Daimler Trucks. Hualixin, chairman of Daimler Northeast Asia, said that after the establishment of the new joint venture, Daimler will become the first and only multinational automotive company to cooperate in all vehicle types in the Chinese automotive industry.
Two years ago in August, Foton and Daimler signed a letter of intent for joint venture, but after the approval process, the joint venture again encountered difficulties and the joint venture process slowed again. Until recently, the Development and Reform Commission approved the joint venture agreement between Futian and Daimler.
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