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Daimler-Chrysler Expands Investment in Beijing
As announced by BJC, Beijing Auto Industry Group and Daimler-Chrysler Corporation will invest 226 million US dollars for strengthening and enlarging the cooperation with Beijing Jeep Corporation, Ltd. This marks that Beijing Jeep Corp. is to step onto a new stage of development, and it also expresses the determination of the Daimler-Chrysler to expand its investment in China and its strategy to enlarge the occupancy of the Asian market.
Established in May 1983, Beijing Jeep Corporation, Ltd., is a joint venture for whole auto-manufacture, the first of its kind in China with a history of 17 years behind. The cooperation between the two will help the Beijing Jeep to invigorate its vitality and market competitiveness so that it can be re-pumped up for a new development. As reported the Beijing Jeep will launch two new brands within 3 years including Cherokee the Great - the ace of the brand, and the self-developed "Challenger", a kind of cross-country jeep of multi-functions. The Cherokee the Great is expected to be on sale at the market by the end of this year. Following the two new brands, Beijing Jeep plans to manufacture another new product by the year 2003 in order to cater to the needs of the market.
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