Joint venture

In November 2018, we sold our 50 per cent stake in the DEUTZ Dalian joint venture to the First Automotive Works Group, our joint venture partner since 2007 and one of China’s leading truck manufacturers.

Also in November 2018, we signed a memorandum of understanding with SANY, China’s largest construction equipment group, as part of our new strategy for the Chinese market. Together, we are planning to form a production-focused joint venture in which DEUTZ AG is set to be the majority shareholder with a stake of 51 per cent. DEUTZ AG’s initial investment is in the mid double-digit millions of euros.