Ola Källenius, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars: “We are very pleased that our long-standing partner BAIC (Beijing Automotive Group Co. Ltd.) is now a long-term investor in Daimler.”
Daimler and BAIC are linked in a long-term partnership. Daimler has been shareholder of BAIC Motor since 2013.
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PSR Analysis: BAIC has acquired an equity interest of approximately five
percent in Daimler AG through Investment Global Co. Ltd., a 100 -percent
subsidiary. Daimler and BAIC are linked in a long-standing stra tegic 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% of its shares. Since 2018, Daimler has also held an interest of 3.01% in BAIC BluePark New Energy Technology Co. Ltd., a manufacturer of electric vehicles for China.
This move enables Daimler to reinforce its position in one of the most important markets in the world. According to our database OE Link™ Sales, China is the number one market for passenger cars and the third market in the world for commercial vehicles and buses.
Thanks to this relationship, both companies can share development costs and technologies that are becoming more and more expensive and complicated to research and develop for manufacturers.
We expect to see more collaboration in future years between BAIC and Daimler and a further intensification of their relationship. PSR
