BAIC Group surpassed Geely to become Daimler's largest shareholder to 9.98%

On December 13, Beijing Automotive Group Co., Ltd. announced that it has held 9.98% of Daimler AG's shares in 2019 through continued investment; the two sides fully recognize the success of long-term cooperation in the past and attach importance to future development. At the same time, Daimler Group holds 9.55% of the shares of BAIC Group listed companies in Hong Kong, and holds 2.46% of the shares of BAIC Group in A-share listed companies.

Through this increase, BAIC will surpass Geely to become Daimler's largest shareholder. In February 2018, Geely Group Co., Ltd. announced that it had acquired 9.69% of the voting shares of Daimler AG through its overseas corporate entities.

The information shows that cross-shareholding will help the high-quality development and long-term success of both parties in the Chinese market. According to the agreement between the two parties, BAIC Group has no plans to further increase its stake in Daimler Group.

In the past 20 years, Daimler Group is one of the most important strategic partners of BAIC Group in the world, and the partnership between BAIC Group and Daimler Group has always been a model of cooperation, playing an important role in promoting industrial cooperation, technological innovation and even healthy economic and social development between the two countries.

By the end of 2021, Mercedes-Benz will introduce four pure electric models in China: EQA, EQB, EQC and EQS. Among them, Mercedes-Benz EQA, EQB, EQC have achieved localization production and sales, and Mercedes-Benz EQE will be domestically produced in 2022.