Daimler and Foton Motor Sign Joint Venture Contract and Receive Approval for Truck Production in China; Joint Venture with Foton Motor Attributes to Daimler's China Strategy by Fully Accomplishing the Strategic Partnership with Beijing, Also Signifies

ENPNewswire-16 July 2010-Daimler and Foton Motor Sign Joint Venture Contract and Receive Approval for Truck Production in China; Joint venture with Foton Motor attributes to Daimler's China strategy by fully accomplishing the strategic partnership with Beijing, also signifies company's expansion to all segments of automotive industry in China; Joint venture contract signed in presence of German Chancellor Angela Merkel and Chinese Premier Wen Jiabao; Daimler further expands presence in China and Asia(C)2010 ENPublishing - http://www.enpublishing.co.uk Release date- 16072010 - Stuttgart/Peking - Daimler and Foton Motor have made significant progress regarding their negotiations to establish a 50:50 joint venture. Today, the joint venture contract was signed in the presence of German Chancellor Angela Merkel and the Premier of the People's Republic of China Wen Jiabao. The approval for the deal was granted by the relevant Chinese government authority.