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Jianghuai Automobile, Navistar, NC2 will officially sign a joint venture agreement on September 16, 2010. In September last year, JAC signed a joint venture framework agreement with NC2 Global LLC, a subsidiary of Navistar, to establish a joint venture heavy truck company with NC2 in China. The registered capital will be no less than 800 million yuan and the total investment will not be less than 20 Billion, the ratio of the two parties' shares is 50:50; Jianghuai will invest almost all its medium and heavy truck assets and operations in the joint venture company, and NC2 will contribute cash. JAC’s previous announcement stated that the joint venture will initially increase the company’s existing production of heavy-duty trucks by a factor of three. The joint venture will have an engine strategy to support the development of medium and heavy trucks. NC2 is a 50/50 joint venture company established last year between Navistar and Caterpillar, a heavy machinery manufacturer in the United States. It manufactures and sells commercial trucks mainly in North America and India outside of India. China is an important market for its early stage. one. In recent years, foreign-invested truck companies have adjusted their market strategies in China and cooperated with local Chinese companies in a more flexible manner. Last year, several landmark transactions were concluded, including China National Heavy Duty Truck Co., Ltd. was awarded a 25% stake in German company 560 million euros; China's Beiqi Foton and German Daimler formally signed a truck joint venture agreement. More information on the joint ventures of JAC, Navistar, and NC2 will be announced on the same day of the conference. CDC will also report the first time. Please pay attention.