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Daimler-BAIC to build Beijing battery and car plant as Geely takes Daimler stake

Mon, 03/05/2018 - 11:48 -- Xuan Zhong
Daimler-BAIC to build Beijing battery and car plant as Geely takes Daimler stake

German auto giant Daimler is investing in a second battery and car production plant in Beijing with its Chinese state-owned automobile partner BAIC.

Daimler told BBB the companies would jointly invest more than CNY11.9 billion ($1.9bn) in the new facility at their Beijing Benz Automotive (BBAC) joint venture making lithium-ion batteries and “high-quality premium vehicles” for Daimler’s Mercedes-Benz brand.

 

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