Dow Jones reports that diesel engine manufacturer Cummins and Dongfeng Automobile Co. will double the size of their 50-50 joint venture's registered capital to $100 million.
Dow Jones reports that diesel engine manufacturer Cummins and Dongfeng Automobile Co. will double the size of their 50-50 joint venture’s registered capital to $100 million.
Dow Jones said that the increase would come through an integration of the companies’ assets, including manufacturing facilities, and a transfer of technology by Cummins, rather than cash.
The report said that the expansion will boost the joint venture’s annual production to 130, 000 units from more than 25,000 at present.
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