Daimler’s longtime Chinese cooperation partner BAIC joins the German carmaker as an investor. About a subsidiary BAIC bought five percent of the shares, said Daimler today. „This step consolidates our successful partnership and is a signal of confidence in the strategy and the future potential of our company,“ said CEO Ola Källenius.
„The Chinese market is and will remain a crucial pillar of our success – not only for sales, but also for our development and production,“ says Källenius.
BAIC, with its five percent, becomes the third-largest single investor after the Chinese auto giant Geely and the sovereign wealth fund of Kuwait. Daimler and BAIC have been working together since 2013 on production, research, development and sales. Since 2013, Daimler has also held a stake of almost ten percent in BAIC Motor.
