Daimler acquires stake in BJEV


Daimler has acquired a 3.93% stake in Beijing Electric Vehicle Co., Ltd., a subsidiary of BAIC Group. This acquisition extends Daimler’s and BAIC Group’s strategic cooperation in the New Energy Vehicle sector. Likewise, this closer collaboration allows the automotive manufacturer to further its understanding of the Chinese consumers’ needs, particularly when it comes to New Energy Vehicle.

Hubertus Troska, member of the board of management, Daimler AG, responsible for Greater China says: “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,” he adds.

Troska notes that one of the pillars of Daimler’s future mobility strategy lies with electric mobility. “We are fully dedicated to bringing this strategy forward globally and especially in China, the world’s largest NEV market already today.”

Xu Heyi, chairman of BAIC Group, also added that the “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,” he concludes.