China Daimler Acquires Stake in BAIC Subsidiary BJEV
Editor: Alexander Stark
Stuttgart-based OEM Daimler acquires a 3.93 % stake in Beijing Electric Vehicle (BJEV), a subsidiary of the BAIC Group. With this step, the group is continuing to pursue its electromobility strategy in the Chinese market.
Daimler expands its strategic position in the New Energy Vehicles (NEV) sector in China by acquiring a 3.93 % stake in Beijing Electric Vehicle Co. (BJEV), a subsidiary of the BAIC Group.
(Source: Daimler AG)
Daimler and the BAIC Group are intensifying their strategic cooperation in the New Energy Vehicles (NEV) sector: The Stuttgart-based company has acquired a 3.93 % stake in the BAIC subsidiary Beijing Electric Vehicle. In June last year, the companies signed a framework agreement to further strengthen their cooperation by investing in electric vehicles in China, which also included Daimler's intention to become a shareholder of BJEV.
Daimler expands its strategic position in the New Energy Vehicles (NEV) sector in China by acquiring a 3.93 % stake in Beijing Electric Vehicle Co. (BJEV), a subsidiary of the BAIC Group.
(Bild: Daimler AG)
Great Importance of the Chinese E-Mobility Market
According to Daimler, the intensified cooperation with both BAIC and BJEV will enable them to gain an even better understanding of the needs of Chinese customers, especially regarding electric vehicles.
Xu Heyi, CEO of the BAIC Group, explains: "New Energy Vehicles are one of the core business areas of the BAIC Group, and Daimler's investment in BJEV further underpins our partnership. With this cooperation in the NEV sector, both partners will drive forward the development of the renewable energy industry".
About Beijing Electric Vehicle Co.
BJEV was founded in 2009 by the BAIC Group as a development platform for new energy vehicles. As one of China's leading manufacturers of all-electric vehicles, BJEV's main business area comprises research and development, production, sales and service for new energy vehicles and NEV core components.
Naturally, we always handle your personal data responsibly. Any personal data we receive from you is processed in accordance with applicable data protection legislation. For detailed information please see our privacy policy.
Consent to the use of data for promotional purposes
I consent to NürnbergMesse GmbH, Exhibition Centre, 90471 Nuremberg, including any affiliated companies according to §§ 15 et seq. AktG (hereafter: NürnbergMesse) and Vogel Communication Group GmbH & Co. KG, Max-Planckstr. 7-9, 97082 Würzburg, including any affiliated companies according to §§ 15 et seq. AktG (hereafter: Vogel Communications Group) using my e-mail address to send editorial newsletters. I have accessed lists of the respective companies here for Vogel Communications Group
Newsletter content may include all products and services of any companies mentioned above, including for example specialist journals and books, events and fairs as well as event-related products and services, print and digital media offers and services such as additional (editorial) newsletters, raffles, lead campaigns, market research both online and offline, specialist webportals and e-learning offers. In case my personal telephone number has also been collected, it may be used for offers of aforementioned products, for services of the companies mentioned above, and market research purposes.
In case I access protected data on Internet portals of NürnbergMesse including any affiliated companies according to §§ 15 et seq. AktG or Vogel Communications Group including any affiliated companies according to §§ 15 et seq. AktG, I need to provide further data in order to register for the access of such content. In return for this free access to editorial content, my data may be used in accordance with this consent for the purposes stated here.
Right of revocation
I understand that I can revoke my consent at will. My revocation does not change the lawfulness of data processing that was conducted based on my consent leading up to my revocation. To declare my revocation I must use this contact form. In case I no longer wish to receive certain newsletters I have subscribed to, I can also click on the unsubscribe link included at the end of a newsletter. Further information regarding my right of revocation and the implementation of it as well as the consequences of my revocation can be found in the privacy policy, section editorial newsletter.