Blockbuster news BAIC Group became Daimler's largest shareholder

[Aika Auto Industry News Original]

On December 13, BAIC Group announced that in order to strengthen the long-term strategic cooperation between the two sides, it has held 9.98% of Daimler AG in 2019 through continued investment. That is to say, two years ago, BAIC Group had already taken over the status of Daimler's largest shareholder from Geely.

At the same time, BAIC Group also announced another news, Daimler holds 9.55% of the shares of BAIC Group listed in Hong Kong (BAIC Motor) and holds 2.46% of the shares of BAIC Group in the A-share listed company (BAIC Blue Valley), and the two sides form a cross-shareholding. And BAIC also said in the announcement on the 13th that "according to an agreement between the two sides, BAIC Group has no plans to further increase its holdings in Daimler Group shares." As for what this "agreement" is, the current double release has not been made public.

At the same time, BAIC revealed the recent planning of new energy models in the announcement, pointing out that "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.

Highlights review:

Beijing Benz's new battery production line will be completed for EQE

Guangzhou Motor Show Beijing Benz EQB officially launched / 7-seat layout

Guangzhou Auto Show Beijing Benz EQA launched / pure electric compact SUV

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