Foton Motor announced on the evening of July 23 that the company’s joint venture with Daimler AG and Daimler Northeast Asia Investment Co., Ltd. in the production of heavy-duty trucks and engines has been approved by the National Development and Reform Commission.
According to the announcement, the total investment of the project is 6.351 billion yuan, and the project capital is 5.6 billion yuan. The company invests in the existing Auman business equivalent assets of 2.8 billion yuan, accounting for 50% of the shares, Daimler AG and Daimler Northeast Asia Investment Co., Ltd. invested in equal value US dollars in cash, which accounted for 40% and 10% of the shares, respectively.
According to the announcement, the total investment of the project is 6.351 billion yuan, and the project capital is 5.6 billion yuan. The company invests in the existing Auman business equivalent assets of 2.8 billion yuan, accounting for 50% of the shares, Daimler AG and Daimler Northeast Asia Investment Co., Ltd. invested in equal value US dollars in cash, which accounted for 40% and 10% of the shares, respectively.
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