The Navistar Caterpillar joint venture NC² has made a major deal consolidating manufacturing of both trucks and engines with a Chinese partner. The deal, said to be worth US$586 million, is between Navistar, Caterpillar and Jianghuai Auto creating two entities, one to build trucks and the other to build truck engines.
The joint venture between NC² and Jianghuai is to be based in the city of Hefei and is expected to produce 40,000 trucks per year. The second joint venture is between Navistar and Jianghuai and will develop a plant to produce engines to be fitted in the 40,000 trucks expected to be produced by the truck manufacturing plant each year.
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