CUMMINS Inc, the first overseas engine-maker to invest in China, and Beiqi Foton Motor Co set up a 2.4-billion-yuan (US$342 million) venture to make engines as the country's truck sales rise.
The venture will start production in 2009 with a capacity of 400,000 engines a year, according to a statement posted on Cummins' Website. Cummins and Beiqi Foton, China's biggest maker of light trucks, will each own half of the Beijing-based venture.