Daimler, MAN Step Up China, India Presence

Daimler AG and MAN SE have stepped up their presence in China and India, respectively, Bloomberg reported Monday.

Chinese truck maker Beiqi Foton Motor Co.’s board of directors approved a previously announced plan to license truck technology to a joint venture with Daimler AG worth about $265 million, Bloomberg said, citing a Foton statement on the Shanghai stock exchange.

Separately, MAN SE will take control of the MAN Force Trucks Pvt. Ltd. joint venture in India by buying the shares held by Force Motors Ltd., Bloomberg reported.

Volkwagen AG said earlier this month it would boost its global trucking presence with an increased of MAN.

Volkswagen, Daimler and MAN are all based in Germany.