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Daimler gets NDRC approval for minority stake in BJEV

BEIJING – Daimler AG has received approval from the National Development and Reform Commission (NDRC) for its planned minority interest in Beijing Electric Vehicle Co., Ltd. (BJEV), the EV subsidiary under Chinese partner BAIC Group, according to a notice posted on the website of NDRC on February 7. The official response

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BAIC and Daimler to invest £¤11.9 billion to expand capacity at BBAC for EQ production

BEIJING – BAIC Motor Co., Ltd., the Hong Kong-listed subsidiary of BAIC Group, said in a statement on February 23 that it and partner Daimler AG plan to co-invest more than ¥11.9 billion (about €1.5 billion) to build a new production base at their joint venture, Beijing Benz Automotive Co.,

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BAIC Group executive adjustment for better management and development

BEIJING – Li Feng, Party standing committee member of Beijing Automotive Group Co., Ltd. (BAIC Group), will concurrently work as secretary of the Party committee and dean of BAIC Group New Technology Research Institute and assist Xu Heyi, chairman of BAIC Group, for the management of BAIC Motor Corp., Ltd.

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BAIC Motor acquires 35 percent stake in Fujian Benz

BEIJING – BAIC Motor Corp., Ltd., the Hong Kong-listed Chinese brand passenger vehicle subsidiary under BAIC Group, China’s 5th largest automaker by sales, has acquired a 35 percent stake in Fujian Benz Automotive Ltd. (FBAC) from Fujian Motor Industry Group Corp. A strategic cooperation framework agreement was signed in the

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China in the spotlight as Daimler reports record earnings

Daimler reported record unit sales, revenue and earnings at its 2016 Annual Press Conference held in Stuttgart, Germany on February 4. But it felt like the event took place in China. The fact that more than a dozen journalists from China were invited to attend the event and China resonated

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Even the best carmakers may not survive

The 2015 International Forum (TEDA) on Chinese Automotive Industry Development, with a theme of “New Normal: Vision and Path for the Industry in 2020,” was held on September 11-13 in Tianjin. Around 700 automotive executives, government and industry association officials and the media shared their ideas and opinions on the

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