BAIC announced this week that it has been holding an increased stake of 9,98 per cent in Daimler since 2019. This holding secures the brand a board seat with the German luxury car manufacturer, thus cementing a successful partnership between Mercedes-Benz and BAIC in China with the hopes to enrich the long-term plans and commitment between the brands in their joint venture.
BAIC has been Daimler’s main partner in China for years and operates Mercedes-Benz factories in Beijing through the two automakers’ main joint venture, Beijing Benz Automotive. During the Daimler partnership, China emerged as the largest global market for Mercedes-Benz and their shared vision and focus on the shift towards electric mobility and digitalisation and further entrenched the success of this partnership.
The two brands have been in partnership for almost two decades, making it one of the oldest Sino-German cooperations in the automotive industry. BAIC is the industrial partner for Mercedes-Benz in China. Both companies have made a contribution to the development of the Mercedes-Benz business in China. This relationship is also sired by the Chinese company’s innovation and market relevance in the EV space.
BAIC has welcomed this commitment to the joint successful manufacturing and development alliance in the world’s largest car market.