CORRECTED - CORRECTED-(OFFICIAL)-China's Chery forms jv for bullet-proof car
(Corrects the location of the venture to China in first paragraph, after Chery provided a revised statement)
SHANGHAI, March 13 (Reuters) - Chery Automobile Co., DaimlerChrysler AG's DCXGn.DE partner in China, said on Tuesday it had set up a manufacturing venture with a Uruguay partner to make bullet-proof passenger cars in China.
Chery will provide the technology and take a 70 percent stake in the venture, with Uruguay-based Bognor Automotive Manufacture and Assembly holding the reminder, the Chinese company said in a statement.
Chery said the bullet-proof cars would be based on its mid-range Eastar sedan and sold mostly in overseas markets, although it provided no immediate information on sales or production targets.
With few production facilities overseas, Chinese car makers, eager to make a name globally, have been teaming up with foreign partners, mostly in developing countries, to make vehicles targeting the local market.
In December last year, Chery reached a landmark deal with DaimlerChrysler enabling it to build vehicles under Chrysler's brand for sale in the United States and Europe.
The mid-sized but fast-growing Chinese automaker has also held talks with Fiat (FIA.MI) on expanding their ties following an earlier engine deal, a senior Chery executive told Reuters in October.
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