Navistar readies 'long-term' roadmap

BEIJING - US truck and engine manufacturer Navistar Inc is about to finalize joint venture agreements with Chinese automaker Jianghuai Automobile Co Ltd (JAC) as it moves to haul in a share of the world's largest commercial vehicle market.

Navistar signed the joint venture agreement with JAC last September to make diesel engines in China. At the same time, its joint venture with Caterpillar - known as NC2 - agreed to form a partnership with JAC to develop and build commercial vehicles.

The company said at a recent press conference in Beijing that the projects are expected to soon receive government approval.