Daimler opens Chinese plant

Daimler opens Chinese plant

STUTTGART (Reuters): Germany's Daimler-Benz AG said on Friday
that it had started a joint venture company with a Chinese
partner to manufacture buses, in a bid to extend its position in
the Chinese market.

The new company, to be based in Guangzhou province, will be
called Yaxing-Benz and will be the largest Asian bus
manufacturer.

Daimler-Benz and Guangzhou Motor Coach Manufacturer each hold
50 percent in the joint venture.

Yaxing-Benz will have 3,300 workers, building 8,500 buses and
2,000 platforms per year.

Daimler-Benz estimates that the market for buses between 7.5
and 18 tons will grow to 36,000 vehicles per year in the next 10
years.

said