BEIJING, JUNE 2:? DaimlerChrysler, the first foreign carmaker in China, said it will increase its purchase of car parts in the country by eightfold by 2008 as it expands local production.
DaimlerChrysler will buy 840 million dollar of parts and components in China for its local ventures in 2008 compared with the current 100 million dollar, the company said.

DaimlerChrysler, Volkswagen and other foreign automakers are buying more parts from local suppliers to help cut costs. Volkswagen said it plans to buy more than 1 billion dollar worth of steel and other materials from China this year to use in factories in other markets.

Stuttgart, Germany-based DaimlerChrysler, which makes Mercedes-Benz E-class sedans and jeep sport utility vehicles in China, plans to start production of the Chrysler 300C sedan in Beijing this year while licensing the manufacture of mini vans in the southern city of Fuzhou.