Daimler-Chrysler Expects to Renew Beijing Jeep Joint Venture

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Last updated at: (Beijing Time) Saturday, March 23, 2002

Daimler-Chrysler Expects to Renew Beijing Jeep Joint Venture

A senior executive of the Daimler- Chrysler Corporation has said in Beijing that the company is seeking to prolong its Jeep manufacturing joint venture in Beijing by another 30 years.

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A senior executive of the Daimler- Chrysler Corporation has said in Beijing that the company is seeking to prolong its Jeep manufacturing joint venture in Beijing by another 30 years.

Eckhard Cordes, executive vice president of Daimler-Chrysler, said Friday here that the 20-year joint venture agreement with Beijing Jeep Corporation is due to expire in 2003.

Established in 1983, Beijing Jeep Co., Ltd. was China's first Sino-foreign automotive joint venture. The original foreign shareholder, Chrysler, was succeeded by Daimler-Chrysler in 1998.

The Beijing Jeep project needs competitive products and senior management of Daimler-Chrysler has been aware of this, said Cordes. He said that the company would soon convene a special board meeting to find a win-win solution.

Among the new initiatives, said Cordes, Daimler-Chrysler will offer a full range of products, including the latest models, to ensure the longterm success of the joint venture.

Eckhard Cordes met with Beijing's mayor Liu Qi on Friday.

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