Newly established Mitsubishi Fuso Truck & Bus Corp. hopes to cut costs through its tieup with DaimlerChrysler AG, the firm’s president said Tuesday.

According to Wilfried Porth, who is also chief executive officer of MFTBC, the commercial vehicle manufacturer is now discussing sharing midsize engines with the German-American auto giant.

“This will open new savings potential in production and logistics and promote overall profitability,” said Porth, a former vice president of DaimlerChrysler’s executive management development department.

MFTBC was established Jan. 6 as a spinoff from Mitsubishi Motors Corp.

DaimlerChrysler is expected to hold a 43 percent stake in MFTBC by the end of March, while Mitsubishi group companies will own 15 percent.

Porth said MFTBC aims to become more cost competitive in Japan, where the firm has a 30.8 percent share in the truck market. It will also reinforce its businesses in overseas markets, especially in Indonesia, Europe and North America, he said.

MFTBC will promote its small trucks in Europe by utilizing DaimlerChrysler’s strong sales channels, he said, adding that it can cooperate with U.S.-based truck maker Freightliner, a DaimlerChrysler subsidiary.

To cultivate the expanding truck market in China, MFTBC will cooperate with DaimlerChrysler and South Korean carmaker Hyundai Motor Co., in which DaimlerChrysler holds a 10 percent stake.

“Every truck manufacturer entering China will face very tough competition,” Porth said. “We want to consult with DaimlerChrysler and Hyundai because we need a good strategy to be sustainable and sufficiently successful in entering the Chinese market.”

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