Eckhard Cordes, executive vice president of Daimler-Chrysler, said Friday here that the 20-year joint venture agreement with Beijing Jeep Corporation is due to expire in 2003.

Established in 1983, Beijing Jeep Co., Ltd. was China's first Sino-foreign automotive joint venture. The original foreign shareholder, Chrysler, was succeeded by Daimler-Chrysler in 1998.

The Beijing Jeep project needs competitive products and senior management of Daimler-Chrysler has been aware of this, said Cordes. He said that the company would soon convene a special board meeting to find a win-win solution.

Among the new initiatives, said Cordes, Daimler-Chrysler will offer a full range of products, including the latest models, to ensure the longterm success of the joint venture.

Eckhard Cordes met with Beijing's mayor Liu Qi on Friday.

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