German-American automaker DaimlerChrysler and Beijing Automobile Industrial Cooperation announced Friday that they will jointly manufacture the Chrysler 300 sedan model in China.

The new sedans will be put on market in late 2006, as products of the newly-established Beijing Benz-Daimler Chrysler Automobile Cooperation.

Tom Lasorda, President of DaimlerChrysler, made introduction of the new model, and DaimlerChrysler's development plan in China.

He noted that as a flagship product of DaimlerChrysler, Chrysler 300 has entered China as a signal that Chrysler will boost its brand at the fastest growing auto market in the world.

Major parts of the Chrysler 300 are from the United States, and the sedan is just for Chinese market, said Tom Lasorda, adding that Chrysler has decided to invest 350 million US dollars in manufacturing Chrysler minivan in provinces of Taiwan and Fujian, besides Chrysler 300 sedans, and a new joint venture was set up for the purpose.

Source: Xinhua