9 Mar 18

Daimler acquires stake in Chinese electric car maker

Daimler Headquarters in Stuttgart

Daimler announced it has acquired a 3.93% stake in Beijing Electric Vehicle Co. Ltd. (BJEV), a subsidiary of BAIC Group.

"The investment underlines Daimler's commitment to the further development of electric mobility in China," commented Hubertus Troska, member of the Board of Management of Daimler AG.

BJEV was established in 2009 by BAIC Group as a development platform for new energy vehicles.

Image: Daimler Headquarters in Stuttgart, Germany.

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