Beijing Automotive Group Co Ltd (BAIC) announced this week that it has been holding an increased stake of 9.98% in Daimler since 2019. This holding secures the brand a board seat with the German luxury car manufacturer. This emphasises the successful partnership between Mercedes-Benz and BAIC in China and entrenches the long-term plans and commitment between the brands in their joint venture.
BAIC has been Daimler’s main partner in China for years and operates Mercedes-Benz factories in Beijing through the two automakers’ main joint venture, Beijing Benz Automotive. During the Daimler and BAIC partnership, China emerged as the largest global market for Mercedes-Benz and their shared vision and focus on the shift towards electric mobility and digitalization and further entrenched the success of this partnership.
Daimler and BAIC have been in partnership for almost two decades and has been prime role model for Sino-German cooperation in the automotive industry. BAIC is the key industrial partner for Mercedes-Benz in China. Both companies have made a significant contribution to the development of the Mercedes-Benz business in China. This relationship is also sired by BAICs innovation and market leadership in the EV (Electric Vehicle) space.
BAIC echoes this sentiment and has welcomed this commitment to the joint successful manufacturing and development alliance in the world’s largest car market.
BAIC Daimler Partnership https://t.co/9onnsdnKx4 #ArriveAlive #Partnership @baic_sa pic.twitter.com/1S0CyW5gaV
— Arrive Alive (@_ArriveAlive) December 17, 2021