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Beiqi-Foton transfers truck improvement technology to Foton-Daimler

BEIJING – Beiqi Foton Motor Co., Ltd. (Beiqi-Foton) signed an agreement with Beijing Foton Daimler Automotive Co., Ltd. (Foton-Daimler) recently to transfer related improvement technologies of ETX truck and permit the latter to use the GTL truck improvement technologies with transaction amount of ¥156.68 million ($25.27 million), according to a company announcement released on December 29, 2014, reported Securities Times.

Beiqi-Foton also signed the H4 Truck Body Frame Transfer Agreement with Foton-Daimler in a transaction amount of ¥34.81 million, according to a company announcement on December 26. The above transactions are a connected transaction, according to the company.

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