Truck maker Navistar International Inc. says it is exploring a joint venture with a Chinese vehicle manufacturer to build diesel engines for commercial vehicles in China.
Navistar said today (Oct. 30) the proposed 50-50 joint venture with Anhui Jianghuai Automobile Co. would establish a research and design center in China’s Anhui province, according to Associated Press.
Diesel engines produced under the joint venture would be used primarily in China as well as certain export markets.
Navistar says the joint venture would be governed by an eight-person board consisting of four members from each company.
The venture still requires approval by each company’s board of directors, as well as other approvals before it moves forward.