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North-Benz invests in Chongqing

From China Daily| January 29 , 2007 11:29 BJT

North-Benz Heavy-duty Truck Co. Ltd has invested 480 million yuan (US$61.7 million) to build a new heavy-duty truck production base in Chongqing, Southwest China.

The construction of the new production base, located in Chongqing Jiulong Industrial Park, will kick off soon. The new company for this base, recently re-registered as Chongqing North-Benz Vehicle Co Ltd, was reshuffled based on the former Chongqing Tiema Heavy-duty Vehicle Co Ltd.

Chongqing Tiema has been fully integrated into North Benz's sales network and spare parts service network and has strengthened the company's competitive edge since it was regrouped as a subsidiary of North-Benz two years ago. The Tiema heavy-duty truck has achieved an annual output and sales volume of 1,700 units, more than double the previous figure. The company's annual sales revenue has topped 500 million yuan (US$64.3 million).

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