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BAIC Motor and Daimler deepen EV partnership

Published 07/05/2017, 08:08 AM
© Reuters.  BAIC Motor and Daimler deepen EV partnership
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  • BAIC Motor (OTC:BCCMY) and Daimler (OTCPK:DDAIF) plan to invest another 5B yuan ($735M) in their Beijing Benz Automotive Company joint venture to boost electric vehicle and battery production.
  • The JV plans to produce Mercdes electric vehicles out of a production facility in Beijing.
  • "By 2025, the Chinese market will have a substantial share in global sales of Mercedes-Benz electric vehicles," says Daimler board member Hubertus Troska.
  • BAIC Motor is a subsidiary of state-owned BAIC Group.
  • Now read: Daimler: The Best Dividend And Return Play In The Global Automobile Sector


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