No change for the agreement and new progress to make

(chinatrucks.com, March 29, 2010) Foton and Daimler have signed the international cooperation agreement at August 7, 2008. An adventure company of medium and heavy truck, named Beijing Foton Daimler Automobile Corporation, is to be established according to the agreement. However, the adventure company hasn't been set up after signing the agreement for 14 months. There is a saying that two parties haven’t got smooth cooperation because the negotiation contents have been changed.

Gongmi, the secretary of the director board，denied the information on March 26, 2010. It is said that the agreement has no change, and will make new progress after two months.

The cooperation program is under the approval of National Development and Reform Commission, and besides the cooperation with Foton, Daimler has other programs to be approved by the commission. It will take more time to get approval because Daimler has the failure experience of cooperation negotiation with Chinese company. The parties are making great efforts to disclose the result soon.  

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