Daimler Agrees Investment By BAIC Group

Must Read

- Advertisement -
  • Ola Källenius, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars: “We are very satisfied that our long-standing partner BAIC is now a long-term investor in Daimler.”
  • Daimler and BAIC are connected in a long-term partnership
  • Daimler has been a shareholder of BAIC Motor since 2013

Daimler AG welcomes its cooperation partner Beijing Automotive Group Co. Ltd. (BAIC Group) as a new investor. “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,” said Ola Källenius, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars.

BAIC has acquired an equity interest of approximately five per cent in Daimler AG through Investment Global Co. Ltd., a 100-per cent subsidiary. Daimler and BAIC are 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 sale of passenger cars, vans and trucks. In 2013, Daimler acquired an equity interest in BAIC Motor, a listed subsidiary of BAIC, and currently holds 9.55 per cent of its shares. Since 2018, Daimler has also held an interest of 3.01 per cent in BAIC BluePark New Energy Technology Co. Ltd., a manufacturer of electric vehicles for China.

- Advertisement -
spot_imgspot_img

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Canon's New Sports Hero Is Here To Outpace And Outperform-Brand Spur Nigeria

Canon’s New Sports Hero Is Here To Outpace And Outperform

Canon announces the highly anticipated EOS R3 – a powerhouse for sports photography and reportage. Blending tradition with cutting-edge technology, the EOS R3 offers...
- Advertisement -
spot_imgspot_img

Latest News

Canon’s New Sports Hero Is Here To Outpace And Outperform

Canon announces the highly anticipated EOS R3 – a powerhouse for sports photography and reportage. Blending tradition with cutting-edge...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -spot_imgspot_img