Years Agreement for Beijing Jeep Corporation
31, 2002, Auburn Hills, USA / Beijing, PRC - DaimlerChrysler
and Beijing Automotive Industry (Group) Company (BAIC) today announced
details of a 30-year agreement for their joint venture company in
China, Beijing Jeep Corporation. The agreement is pending final
parties will continue their cooperation in China with an agreement
that extends the joint venture until 2033. Beijing Jeep Corporation
became China's first automotive joint venture when it was established
in May 1983.
extension of the agreement between Chrysler Group and BAIC is a
clear indication that we have a long-term commitment to this joint
venture and to our presence in China and the region," said
Dieter Zetsche, Chrysler Group President and Chief Executive Officer.
"The introduction of the Jeep Grand Cherokee, and the two new
models in the pipeline, are clear evidence that BJC will be a competitive
player in the new automotive environment created by China's accession
to the World Trade Organization."
September, Beijing Jeep started local production of the Jeep®
Grand Cherokee, a vehicle that incorporates advanced four-wheel-drive
technology. The Jeep Grand Cherokee allows the company to reach
a previously untapped segment for high-end sport utility vehicles.
During the next two years, BJC will also start production of two
new models targeted for the Chinese market. Details of the two new
vehicles will be announced later this year.
have enjoyed a very fruitful 19-year relationship," said An
Qingheng, Chairman of BAIC/BJC. "Beijing Jeep was the automotive
joint venture pioneer in China. Since 1983, we have introduced new
production technologies and helped to launch the modern sport utility
segment in China. We are confident that our partnership will continue
to grow in the future."
savings have been realized during the last six months through DaimlerChrysler's
global alliance strategy, particularly in the development of tooling,
stamping and engines for the future models. Modern production initiatives
and closer cooperation with local suppliers will allow BJC to become
more efficient while continuing to improve product quality. The
company currently produces the Jeep Grand Cherokee, the BJC Cherokee,
and the utility vehicle BJ2020.
an effort to increase sales and improve service, we also plan to
strengthen the dealer network," said Thomas Hausch, Executive
Director of International Sales and Marketing, Chrysler Group. He
indicated that Chrysler Group is exploring, together with its global
alliance partners, how to better leverage its sales and service
presence in the market.
agreement and our active business initiatives are a crystal clear
indication of DaimlerChrysler's strong and long-term commitment
with China," said Eike Lippold, CEO of DaimlerChrysler China
agreement calls for DaimlerChrysler to hold 42.4% ownership stake
at BJC while BAIC retains 57.6%.
see more about Beijing Jeep, visit www.beijing-jeep.com/english/index.html