Three Companies Win Right to Sell to China
From Bloomberg News
General Motors Corp., Ford Motor Co. and DaimlerChrysler won the right to export 15,250 U.S.-made vehicles to China after the U.S. pressured the Chinese to help close the trade gap between the countries.
General Motors, the world’s largest automaker, received permission to sell 5,500 vehicles, mostly Buicks and Cadillacs, and auto parts valued at $1.3 billion over two years.
Ford, the No. 2 auto company, will send as many as 5,250 U.S.-made vehicles with an unspecified value by the end of 2004.
DaimlerChrysler will export 4,500 Mercedes and Chrysler vehicles by the end of next year.
From Bloomberg News
