Beijing Jeep Co . on Monday denied media reports that its joint venture partner, DaimlerChrysler AG , will transfer its China factory operations to Southeast Asia.
A company spokesman told Dow Jones Newswires that the two companies had signed an agreement earlier this month to extend their joint venture partnership for another thirty years.
"I have never heard about this report (of DaimlerChrysler leaving China )," the spokesman said. "I can tell you for sure that Beijing Jeep Co . and DaimlerChrysler...have already signed the deal (to extend their China partnership)."
The two companies are now awaiting Chinese government approval for the joint venture extension, which must be granted or denied within 30 working days, he said.
he Beijing Jeep joint venture is the oldest in China 's automotive industry, established in 1983 by U.S. carmaker Chrysler Corp. DaimlerChrysler took over the partnership after a merger of the German and U.S. auto companies in 1998.
Earlier this month, Beijing Jeep announced that the joint venture was awaiting government approval to add passenger cars to its current production line of sport utility vehicles.
It is interesting to note that they're looking to add passenger cars to their current production of SUVs - which of the current crop of DaimlerChrysler vehicles would fit best?