DaimlerChrysler, Beijing Renew SUV Joint Venture

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Last updated at: (Beijing Time) Saturday, June 01, 2002

DaimlerChrysler, Beijing Renew SUV Joint Venture

DaimlerChrysler and Beijing Automotive Industry Group Company said Friday they had renewed a joint venture agreement to produce Jeeps for the Chinese market.

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DaimlerChrysler and Beijing Automotive Industry Group Company said Friday they had renewed a joint venture agreement to produce Jeeps for the Chinese market.

The 30-year deal extends a 1983 agreement under which the partners have produced three types of Jeeps, including a version of the Chrysler Group's best-selling Jeep Grand Cherokee, at their Beijing plant.

To date, production volume has been modest: the plant turned out 1,500 vehicles in the first quarter of 2002.

But under the extended agreement which runs until 2033, the partners plan to add another two vehicles to their line-up, details of which will be announced later this year.

One of those models will reportedly be based on Mitsubishi's Airtrek sport utility vehicle according to comments made earlier this month by Mitsubishi Motors Corp.'s Chief Operating Officer Rolf Eckrodt.

A Chrysler Group spokesman confirmed it would be working with Mitsubishi on one of the models. DaimlerChrysler owns 37 percent of Mitsubishi Motors Corp.

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