Beiqi Foton Motor Co says it has reached a preliminary agreement to set up a truck-making joint venture with Daimler.
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Preparations for setting up the venture, which would make medium- to heavy-duty trucks, are proceeding smoothly, Foton said in a statement.
It did not disclose any financial details or the potential size of the venture.
The companies are also exploring opportunities to form a global partnership, the statement added.
In December, Foton scrapped a share placement plan with DaimlerChrysler which would have given its potential partner a 24%.
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By GlobalDataThe agreement was cancelled in December after the deal failed to win government approval.
