germany\s daimler seals investment in baic motor
Last Updated : GMT 08:05:47
Arab Today, arab today
Arab Today, arab today

Germany\'s Daimler seals investment in BAIC Motor

Arab Today, arab today

Arab Today, arab today Germany\'s Daimler seals investment in BAIC Motor

Beijing - XINHUA

German carmaker Daimler AG on Tuesday closed a 12-percent investment in BAIC Motor,the passenger car unit of Beijing Automotive Group, at a ceremony in Beijing's Great Hall of the People. The closing of the deal, the first ever investment by a non-Chinese automotive company in a Chinese original equipment manufacturer, followed an investment agreement signed by the two companies in February and approval by the Chinese authorities, Daimler said in a press release. The German company's investment will take place through the issuance of new shares corresponding to a 12-percent stake in BAIC Motor. With this, Daimler is proving its strong support for BAIC Motors' intention to launch an initial public offering in the future, according to the carmaker from Stuttgart. The new agreement between the strategic partners, who started cooperating in 2003, will see BAIC increase its stake in the production joint venture Beijing Benz Automotive Corporation by 1 percent to 51 percent. Daimler will increase its stake in the integrated sales joint venture Beijing Mercedes-Benz Sales Service Corporation by 1 percent to 51 percent, the press release said. Under the agreement, Hubertus Troska and Bodo Uebber of the Daimler board of management will also receive seats on the BAIC board. "The strategic investment proves our long-term commitment to both the key China market and our trusted partner BAIC Motor," Daimler Chairman Dieter Zetsche said. BAIC Chairman Xu Heyi added, "This is another historical milestone in a partnership that has already seen great success in the past, with joint production and sales activities ranging from passenger cars to trucks." The BAIC Group is one of China's largest automakers. It sold over 1.7 million vehicles in 2012. Recently, it was listed at number 336 in the Fortune Global 500, the overview of the largest corporations in the world. Daimler AG is one of the world's most renowned and successful car companies. It holds several joint ventures in China. The first to be set up was the Beijing Benz Automotive Company, which has produced passenger cars in Beijing since 2006.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

germany\s daimler seals investment in baic motor germany\s daimler seals investment in baic motor

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

germany\s daimler seals investment in baic motor germany\s daimler seals investment in baic motor

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Visit Jamaica for more than just sun

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today UN warns of conflict in Gaza

GMT 08:39 2017 Tuesday ,21 November

UN warns of conflict in Gaza
Arab Today, arab today Missouri problem mirrors woes

GMT 06:46 2017 Tuesday ,21 November

Missouri problem mirrors woes
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Singer Jahda Wahba has unlimited ambitions

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 00:54 2017 Monday ,20 November

Mideast in danger as London explores

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday