DaimlerChrysler In Chinese Deal
DaimlerChrysler has signed a deal worth one billion Euro with the Beijing Automotive Industry Corp. to make cars and trucks in China. Around 25,000 C-class and E-class Mercedes will be produced a year by 2012. The agreement will allow DCX to own up to 100 per cent of the venture, once restrictions on foreign ownership are removed, as expected – at present, foreign investors can own a maximum of 50 per cent of any joint venture.