On December 13, BEIJING AUTOMOTIVE Group Co., Ltd. (hereinafter referred to as "BAIC Group") announced that in order to strengthen the strategic cooperation between the two parties, it has held 9.98% of the shares of Daimler AG (hereinafter referred to as "Daimler Group") in 2019 through continued investment. This shows that 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 in Hong Kong (BAIC Motor) and 2.46% of the shares of BAIC Group in the A-share listed company (BAIC Blue Valley), and the cross-shareholding will help the high-quality development and long-term success of the Chinese market.
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 Sino-German cooperation, which has played an important role in promoting industrial cooperation, technological innovation and even the healthy development of economy and society between the two countries.
BAIC Group said that the increase in holdings further reflects the full trust of BAIC Group in Daimler Group, and also reflects the strong support of BAIC Group as a long-term investor for Daimler Group. BAIC Group values the unique strategic and economic importance of the partnership and is confident in the great potential of Mercedes-Benz in the future transformation process.
In recent years, BAIC Group and Daimler Group have successively launched a series of high-end new energy vehicle products in line with the development trend of the "new four modernizations" of the automobile industry and made positive contributions to China's carbon neutrality and development goals. By the end of 2021, Mercedes-Benz will introduce a total of four pure electric models in China, including EQA, EQB, EQC and EQS. Among them, EQA, EQB and EQC have been put into production in China, and the new EQE will also be domestically produced next year. Under an agreement between the two sides, BAIC Group has no plans to further increase its stake in Daimler Group.
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