The German automotive company Daimler (
www.daimler.com/en) and its Chinese partner BAIC Group (
www.baicintl.com) have signed a new framework agreement for the production of electric vehicles, focused on two significant investments.
The first will see Daimler invest in BAIC’s subsidiary Beijing Electric Vehicles (BJEV); the second will see an upgrade of the current production facilities at the two companies’ joint venture Beijing Benz Automotive (BBAC).
Both these investments are expected to pave the way for next-generation ‘new energy’ vehicles — particularly electric
ones.
Daimler says the framework agreement is a new chapter in the two companies’ co-operation in the development of ‘new energy’ vehicles. China is one of the world’s largest markets for electric vehicles, and Daimler plans to tap this huge potential in the coming years.
The collaboration agreement was signed in Berlin in the presence of German Chancellor Angela Merkel and Chinese Premier Li Keqiang.
Hubertus Troska, Daimler management board member responsible for Greater China, said: “Localisation is the key to Daimler’s sustainable growth and future success in China.
“We have been intensifying local research and development, as well as local production. China is the largest market world-wide for Mercedes-Benz, and this is especially thanks to the strength of our Sino-German co-operation with local partners.”