Daimler welcomes commitment by long-term partner BAIC

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• BAIC announced holding stake in #Daimler of 9.98% since 2019
• Daimler holds a 9.55% stake in BAIC’s Hong Kong listed unit #BAIC Motor
• Cross-shareholdings reflect commitment to continue joint success story in China
• Daimler welcomes long-term strategic shareholders especially during its EV and digital transformation

Stuttgart (Germany) – #Daimler AG’s long-term shareholder and partner in China, Beijing #automotive Group Co Ltd (BAIC), announced that it has been holding an increased stake in #Daimler of 9.98 percent since 2019. This underlines the successful #partnership to continue long-term success for Mercedes-Benz in China. #Daimler owns a 9.55 percent stake in BAIC’s Hong Kong listed unit #BAIC Motor as well as a stake of 2.46 percent in the Shanghai listed #BAIC BluePark. According to an agreement between both parties, #BAIC has confirmed to not further raise its stake in #Daimler.

Ola Källenius, Chief Executive of #Daimler AG and Mercedes-Benz AG:
“We welcome all long-term strategic shareholders who support our strategy. During our #partnership with #BAIC, China has emerged as the largest global market for Mercedes-Benz and as a key driver of the shift towards electric mobility and digitalization. BAIC’s shareholding is a reflection of their commitment to our joint successful manufacturing and development alliance in the world’s biggest car market.”

Daimler and BAIC’s #partnership has been a role model for Sino-German cooperation for almost two decades. #BAIC is the most important industrial partner for Mercedes-Benz in China. Jointly, both companies have made a significant contribution to the development of the Mercedes-Benz business in China.  

Mercedes-Benz is committed to go “electric only” by 2030, wherever market conditions allow. China plays a major role in this strategy: By the end of 2021, there will be four Mercedes-Benz electric vehicles introduced to China: EQA, EQB, EQC and EQS. The EQA, EQB and EQC are locally produced and the localization of the EQE is planned for next year.