From Reuters via the Washington Post:
DaimlerChrysler AG plans to boost its purchases of China-made auto parts eightfold by 2008, the carmaker said on Friday, joining the rush for low-cost local content in the fast-growing Chinese market.
The company will spend about $840 million buying components in China in 2008, up from the current annual amount of about $100 million, Till Becker, chief executive of DaimlerChrysler’s northeast Asia region, said in a statement.
China and its major trading partners are locked in a dispute over high import tariffs on auto components.[Full Text]
