BEIJING – China Hengtian Corp. Group (CHTC) has signed an MOU with Korea Tata Daewoo Commercial Vehicle Co. recently in Beijing to start cooperation after a one-year long negotiation, according to a company press release.
CHTC will introduce high-end heavy-duty trucks of Korea Tata at early stage and will conduct all-round cooperation with focus on heavy-duty truck chassis. First batch of trailers imported will be the European designed all new models equipped with Cummins large power engines, Korea S&T 16-speed transmissions and drive axles. After adjustments of local adaptability and localized auto parts and components, the two companies will launch the new products carrying CHTC-Daewoo brand. The first batch of trailers is estimated to be put into the market in the second half of 2014.
CHTC signed a cooperation agreement with Baoding municipal government on May 5 in Beijing to establish CHTC automobile city in Baoding. With total investments of ¥2 billion ($322.58 million), the auto city will occupy an area of 533,333 square meters and will own a production capacity of 100,000 light vehicles and 10,000 heavy-duty vehicles annually after completion, reported China Youth Daily.