Brilliance, Mercedes sign cooperation pact today
- Source: Gasgoo
- [18:59 July 15 2010]
- Comments
One of Mercedes-Benz's Chinese assembly plants signed an agreement today with Brilliance Auto, BMW's China partner, for cooperation on the Mercedes-Benz Specialist Vehicles, media reported.
Brilliance Auto has been preparing for the cooperation plan since last year and Mercedes-Benz, a luxury car subsidiary of Daimler AG, has also authorized the cooperation earlier.
Moreover, Brilliance Auto has recently acquired two truck companies in China's Henan and Jiangsu provinces, holding 50 percent and 51 percent stake in each company accordingly.
Reportedly, Qi Yumin, Chairman of Brilliance Auto, confirmed in January this year that the company would sign an agreement with Mercedes-Benz for joint venture and would extend partnership to Toyota on minibus as well.
He also announced Brilliance's work plans in 2010, hoping to realize the annual vehicle sales of 500,000 units, up 47 percent over last year; as well as sales of 500,000 engines and exports of 50,000 vehicles, ensuring 60 billion yuan ($8.85 billion) in sales revenue and 6 billion yuan in pre-tax profits in 2010.
