German firm MAN to launch new truck brand in China
The German heavy truck maker MAN and its Chinese partner Sinotruk will next year launch a new vehicle designed for emerging markets, MAN said Thursday in a statement.
MAN will transfer technology used in its TGA heavy truck line to Sinotruk, which will build vehicles to be distributed by both groups, the statement said.
Last year, MAN invested 560 million euros (710 million dollars) in Sinotruk, the leading Chinese manufacturer of heavy trucks, and now owns a stake of 25 percent plus one share.
MAN shares showed a gain of 2.55 percent to 67.06 euros to lead gainers in early trading on the Frankfurt stock exchange, while the DAX index of leading stocks was 0.40 percent higher overall.
© 2010 AFP