China Knowledge reported that Sinotruk Ltd, the Hong Kong listed arm of China largest heavy truck manufacturer, China National Heavy Duty Truck Group and Chengdu Wangpai Motor Group recently launched a commercial vehicle joint venture.
According to an agreement signed between Sinotruk and Chengdu Wangpai, the two companies will set up a new commercial vehicle plant with annual production capacity of 400,000 units.
As per report, the new plant which will cost CNY 3 billion will principally produce a series of commercial vehicles and other vehicles under several brands. The JV will initially produce 100,000 heavy and medium trucks by 2011 and 300,000 light and mini trucks by 2015.
