The cooperation between BAIC Automotive Group and Daimler has been further deepened.
On December 13, BEIJING AUTOMOTIVE Group Co., Ltd. (hereinafter referred to as "BAIC Group") announced that in order to strengthen its long-term strategic cooperation, it has held 9.98% of the shares of Daimler AG (hereinafter referred to as "Daimler Group") in 2019 through continued investment.
The relevant person in charge of BAIC Group said that this shows that the two sides fully recognize the success of long-term cooperation in the past and attach importance to future development. At the same time, Daimler Group holds 9.55% of the shares of BAIC Group listed in Hong Kong (BAIC Motor) and 2.46% of the shares of BAIC Group in the A-share listed company (BAIC BJEV), and cross-shareholding will help the high-quality development and long-term success of the Chinese market.
In the past 20 years, Daimler Group has been one of the most important strategic partners of BAIC Group in the world, playing an important role in promoting industrial cooperation, technological innovation and even the healthy development of economy and society between China and Germany.
BAIC Group said that the increase in holdings further reflects the trust of BAIC Group in Daimler Group, and also reflects the support of BAIC Group as a long-term investor to Daimler Group. BAIC Group values the unique strategic and economic importance of the partnership and is confident in the enormous potential of Mercedes-Benz in the future transformation process.
In recent years, BAIC Group and Daimler Group have conformed to the development trend of the "new four modernizations" of the automobile industry and are committed to making positive contributions to China's carbon neutrality and development goals, and have successively launched a series of high-end new energy vehicle products. By the end of 2021, Mercedes-Benz will introduce a total of four pure electric models in China, including EQA, EQB, EQC and EQS. Among them, EQA, EQB and EQC have been put into production in China, and the new EQE will also be domestically produced next year.
Under an agreement between the two sides, BAIC Group has no plans to further increase its stake in Daimler Group.
![Heavy! BAIC became Daimler's largest shareholder[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)