Daimler and BAIC investing $735M for BEVs and batteries at their JV BBAC; production by 2020

By mmillikin Daimler and BAIC are deepening their cooperation on battery-electric vehicles at their Sino-German production joint venture Beijing Benz Automotive Co., Ltd. (BBAC). The two companies pledged jointly to invest a total of five billion RMB (about US$735 million) in the production of battery electric vehicles (BEVs) under the Mercedes-Benz brand at BBAC in Beijing.

As part of this new strategic framework agreement, Daimler and BAIC Motor are preparing to produce battery electric vehicles by 2020 at BBAC, and to provide the necessary infrastructure for battery localization using Chinese cells, as well as research and development capacities. This commitment includes a three-digit

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