Germany / China – Beijing Automotive Group Co Ltd (BAIC Group) of Beijing, China, through a 100-percent subsidiary, Investment Global Co Ltd, in July acquired an equity interest of approximately five per cent (5%) in vehicle manufacturing giant, Daimler AG of Stuttgart, Germany. Daimler and BAIC have been linked in a long-standing strategic partnership that has existed since 2003. Since then, the two companies have cooperated in the production, research and development, and the sale of passenger cars, vans and trucks. In 2013, Daimler acquired an equity interest in BAIC Motor Corporation, a listed subsidiary of BAIC, and currently holds 9.55 per cent (9.55%) of its shares. Since 2018, Daimler has also held an interest of 3.01 per cent (3.01%) in BAIC BluePark New Energy Technology Co Ltd., a manufacturer of electric vehicles for China.

Commenting on the new shareholders in Daimler, Ola Källenius, chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars remarked: “We are very pleased that our long-standing partner BAIC is now a long-term investor in Daimler. This step reinforces our successful partnership and is a signal of trust in the strategy and future potential of our company. The Chinese market is and remains a crucial pillar of our success - not only for sales, but also for our product development and production.”