Daimler, GAZ to cooperate on van production-source

STUTTGART, Germany | Sat Dec 18, 2010 11:00am EST

STUTTGART, Germany (Reuters) - German carmaker Daimler (DAIGn.DE) plans to cooperate with Russia's GAZ (GAZA.RTS) in producing Mercedes-Benz Sprinter vans, a person familiar with the matter told Reuters on Saturday. The source said a declaration of intent between the two companies would be signed on December 23, confirming a report in German magazine Der Spiegel.

A spokesman for Daimler said the company did not comment on speculation, while GAZ declined to comment.

A Russian government official who cannot be named as he is not authorized to speak to media told Reuters that the agreement could be signed on December 23 if the Russian government signed an order to extend a zero import duty on industrial car components.

Der Spiegel had reported earlier that the deal would see GAZ producing Daimler's Sprinter model for the Russian market, in turn receiving access to new technology.

On Friday, Daimler had announced it would strengthen its partnership with Russia's Kamaz (KMAZ.MM) to cooperate on axles for commercial vehicles at a time when carmakers are trying to expand into the Russian car market.

Europe's biggest carmaker Volkswagen (VOWG_p.DE) said in October that talks with GAZ on establishing a Russian vehicle assembly plant had reached an advanced stage.

(Reporting by Hendrik Sackmann; additional reporting by Gleb Stolyarov in Moscow; writing by Christoph Steitz; Editing by John Stonestreet)

Related Quotes and News

Company
Price
Related News
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.