China Knowledge reported that Sinotruk Ltd, the Hong Kong listed arm of China largest heavy truck manufacturer, China National Heavy Duty Truck Group and Chengdu Wangpai Motor Group recently launched a commercial vehicle joint venture.

According to an agreement signed between Sinotruk and Chengdu Wangpai, the two companies will set up a new commercial vehicle plant with annual production capacity of 400,000 units.

As per report, the new plant which will cost CNY 3 billion will principally produce a series of commercial vehicles and other vehicles under several brands. The JV will initially produce 100,000 heavy and medium trucks by 2011 and 300,000 light and mini trucks by 2015.

(Sourced from China Knowledge)