Daimler, VW to sign China deals worth 33 billion yuan
German carmakers Daimler AG and Volkswagen AG were expected to sign distribution deals totaling $5 billion at a meeting with China's Vice Premier Li Keqiang on Friday, government sources told Reuters.
Daimler confirmed it would sign contracts with the Chinese government but declined to make any further comment. No one at VW was available for comment.
The contracts would formalize deals already agreed on the importation of passenger cars to China, Daimler said.
Li, who is on a three-country European tour, said China wants to develop the untapped purchasing power of its domestic consumers and hopes Berlin will support the expansion of Chinese companies in Germany.
Li is due to meet with Chancellor Angela Merkel when they are expected to discuss expanding bilateral trade valued at roughly $140 billion last year, or nearly 30 percent of China's commerce with the European Union.
