Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Dining Club | Videos
Design & Production
Design & Development
Return to: ABR Home | Design & Production | Design & Development

Daimler acquires 3.93% stake in Beijing Electric Vehicle

Published 09 March 2018

German auto-maker Daimler has acquired a 3.93% stake in BAIC Group's subsidiary, Beijing Electric Vehicle (BJEV).

In June last year, Daimler and BAIC signed a framework agreement on further strengthening collaboration through investment for New Energy Vehicles in China, which included Daimler’s intention to become shareholder in BJEV. This closer cooperation with both BAIC and BJEV will allow Daimler to further deepen its understanding of Chinese consumers’ needs, especially in the field of NEV.

Daimler board of management member Hubertus Troska said: “Electric mobility is one of the pillars of Daimler’s future mobility strategy. We are fully dedicated to bringing this strategy forward globally and especially in China, the world’s largest NEV market already today.

“The investment in BJEV marks yet another milestone in the strong cooperation between Daimler and BAIC for New Energy Vehicles in China, and it underlines our commitment to the further development of electric mobility in this country.”

BAIC Group chairman Xu Heyi said: “BAIC Group and Daimler have long maintained a deep, strategic partnership. New Energy Vehicles are one of BAIC Group’s core business areas, and Daimler’s investment in BJEV further expands our partnership, taking the cooperation between BAIC and Daimler into an entirely new stage of development.

"Through this strategic cooperation in the NEV field, both parties will promote the development of the new energy industry.”



Source: Company Press Release