Gasgoo.com (Shanghai May 13) - According to its official website, commercial vehicle manufacturer CHTC Auto has signed an official cooperation memorandum with Korean Tata Daewoo Commercial Vehicle Company in Beijing. The agreement, which comes after over a year of bilateral negotiation, stipulates that both sides will work together to cooperate in R&D, production and sales of commercial vehicles in China.
In the first phase of cooperation, CHTC will bring over some of Tata Daewoo's heavy truck models to the country. The models in question were designed in Europe and are equipped with gearboxes and drive axles from S&T and engines from Cummins. They will be modified and outfitted with auto parts from domestic manufacturers for use in China, and will be sold under a new CHTC-Daewoo brand. This first patch of trucks is scheduled to make their domestic market debut in the latter half of 2014.
In addition to bringing over Tata Daewoo models, CHTC also aims to take advantage of foreign manufacturing technology and international business management ethics, with its goal to improve its own abilities in R&D, production, logistics, purchasing and quality control.
