Daimler (Mercedes) buys 12% of the Chinese BAIC

Posted on 19-11-2013 at 13:44 by robbie – 14 Comments”

It seems that Daimler finally some more foot on the ground has gotten in China. The German concern that we know from brands like Mercedes and Smart has taken a stake of 12% in the Chinese BAIC Motor. Apparently buying European companies still have something in China.

Over the past years, it was usually the other way around, and were western car manufacturers being bought up by the Chinese. Daimler turns this trend around and takes a large interest in one of the largest automobile manufacturers of China.

BAIC Motor is the branch of Beijing Automotive Group (BAIC Group) that passagiersauto’s builds and in the past appeared in the soap opera surrounding Saab. BAIC Motor also owns the rights to the old 9-3 and 9-5, and has a deal with the Italian designer Leonardo Fioravanti.

Daimler AG and BAIC Motor have already been working for 10 years together and both companies are also jointly mercedes benz cars in China. Such as, for example, the E-Class and C-Class.

Daimler has a total of 625 million paid for a stake of 12% in the Chinese carmaker.