Daimler Acquires Stake In Beijing Electric Vehicle Co. - Quick Facts

(RTTNews) - Daimler (DDAIF.PK) announced it has become a shareholder in Beijing Electric Vehicle Co., Ltd., a subsidiary of BAIC Group, through acquisition of a 3.93% stake. As one of China's leading pure electric vehicle manufacturers, BJEV's primary business scope covers research and development, production, as well as sales and services for New Energy Vehicles and core NEV components.

Hubertus Troska, Member of the Board of Management, Daimler AG, responsible for Greater China, said: "The investment in BJEV marks yet another milestone in the strong cooperation between Daimler and BAIC for New Energy Vehicles in China, and it underlines our commitment to the further development of electric mobility in this country."