Foton and Chrysler may cooperate in medium & heavy trucks
Chinese truck manufacturer Beiqi Foton Motor Co said it has scrapped a share placement plan signed last year with DaimlerChrysler, which would have paid 817 million yuan for a 24 percent stake.
Foton had agreed in November 2006 to sell 297 million new A shares to DaimlerChrysler, which has since sold a majority stake in its Chrysler unit, at 2.75 Yuan per share.
But Foton's shares traded in Shanghai rose sharply thereafter, and the proposed stake sale failed to win the approval of the government, Foton said. However, cooperation between them will turn to medium and heavy duty truck. Foton and Daimler Chrysler are probably going to set up a joint venture.
Views:0
- FOTON Pakistan Delivered 3 Express Logistics Vehicle to DHL 2022-04-12
- CP FOTON’s Dealer Summit & AUMARK FLEX Launch Ceremony Held in Thailand 2022-04-12
- 328 Units!China’s First Largest Automatic Heavy Truck Export Order to Colombia 2022-04-08
- AUMAN EST-M Rolled off the Line at Foton Pakistan Factory 2022-04-03
- 400 Units of FOTON AUMAN Trucks Delivered to an Int'l Brewery Group of Nigeria 2022-04-01
- FOTON Mexico Passed the ISO9001 International Quality System Certification 2022-03-30
- FOTON Got First RCEP Certificate of Origin to Malaysia Issued by Beijing Customs 2022-03-23
- FOTON and Piaggio Group’s 10000TH NP6 New Porter Built at Italian Plant 2022-03-12
- FOTON Donates Mobile Service Vehicle to Boost Healthcare in Pakistan 2022-03-08
- FOTON AUMAN Impressed the World with Powerful Backing for "Dual Olympic City" 2022-02-11
Submit Your Requirements, We Are Always At Your Service.
- BYD Stopped the Production of Fuel Vehicles
- Geely Began Test Runs of Green E-methanol Vehicles in Danmark
- 2022 SANY Global Dealer Summit Was Held Successfully Online
- BYD and Shell Partner on EV Charging across China and Europe
- Daimler Truck Significantly Increase Sales, Revenue and Net Profit in 2021
- Scania Year-end Report January-December 2021
- Hyundai Motor and Iveco Group Sign MOU to Explore Future Collaboration
- GAUSSIN Enters China, the Largest Truck Market in the World
- Over 1,200 Hydrogen-powered Vehicles Deployed for the Beijing Winter Olympics
- Chinese New Year Holiday Closure Notice
- China's Truck Exports Grew by 30% YOY to 63490 Units in January-February
- China's New Energy Heavy Trucks Grew Despite an Overall Slump
- Heavy-duty Truck sales in China Fell by 54% to 54,000 units in February
- SINOTRUK Achieves Sales of 27,725 Vehicles in January, 2022
- China’s Domestic Tractor Sales Exceed 40,000 Units in January
- 2021 JAC International Pickup Export Performance
- JAC Achieved a Great Result in 2021
- China's Truck Export in 2021 Reached a 10-year Peak
- Heavy-duty Truck Sales in China Fall 57 Percent on Year in January
- China Recorded Sales of 645000 Tractors in 2021