Man group to set up JV in China

Shanghai. August 30 (Gasgoo.com) – German heavy truck maker, Man group, will set up a joint venture with a Chinese engine maker, Weichai Power, a company source said today.

"The two parties had signed letter of intent," MAN AG chief executive Hakan Samuelson told the media.

"Man AG is eager to have access to the most vibrant auto market in the world and Weichai Power is the right partner for us to expand our business."

The two sides had cooperation as early as 1993.  Weichai Power adopted some Man's technology on its heavy truck vehicles. Currently Man technology is used in some Chinese-made heavy trucks of more than 14 tons.