DaimlerChrysler: Talks with China's Foton are ongoing

FRANKFURT (Reuters) -- DaimlerChrysler remains in talks with China's Beiqi Foton Motor Co. about forming a truck joint venture but has not struck a deal yet, the world's leading truckmaker said today.

Beiqi Foton shares, which rose their 10 percent daily limit on Tuesday, were suspended on Wednesday pending a statement. Beiqi Foton had no comment.

"We have been in discussions with Beiqi Foton for quite some time about co-operating to offer medium- and heavy-duty trucks in China," a DaimlerChrysler spokeswoman in Stuttgart said.

DaimlerChrysler's truck division head, Andreas Renschler, told reporters in September that he did not rule out taking an equity stake in Beiqi Foton but gave no other details.

"We always said we want to produce trucks in China with a local partner under their local established brand. We hope to finalize an agreement sometime soon but it is still too early to comment at this point," the spokeswoman added on Wednesday. The idea is for DaimlerChrysler to provide technology for such things as truck engines.

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