Cummins, Foton launch diesel engine JV
28 March 2008
US-based diesel engine maker Cummins and China's Foton Motor officially launched a 50-50 joint venture on Wednesday, creating China's largest engine producer, AFP reported, citing state media. Cummins's total investment in the deal is US$385 million. Production of 2.8-liter and 3.8-liter engines, expected to begin early next year in a facility being built in Beijing, will mark the first time the engine models have been made outiside of the US. Light diesel engine capacity is expected to reach 400,000 per year, which will be sold both in and outside of China.
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