A Chinese corporation which is 30% owned by the Ford Motor Co., recently acquired a large heavy truck company, bringing Ford into the world’s largest heavy-truck arena. Though Ford didn’t release the financial terms of the acquisition, the heavy truck parent company showed a selling price of $42 million.
No other country in the world sells as many heavy trucks as China does. Last year, almost one million heavy trucks were sold in China, which is more than North America, South America and Europe combined. Though the sales of heavy trucks seem to be slowing, Ford is certain the Chinese economy will pick back up and the investment will be sound.
“A strong heavy-truck operation like Taiyuan will complement Ford’s existing passenger car and light commercial vehicle operations here in the world’s largest and fastest-growing vehicle market,” Dave Schoch, chairman and CEO of Ford Motor China, told media.
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