Daimler takes 3.93% stake in Beijing Electric Vehicle Company

By mmillikin Expanding its strategic footprint in the field of New Energy Vehicles (NEV) in China, Daimler has acquired a 3.93% stake in Beijing Electric Vehicle Co., Ltd. (BJEV), a BAIC Group subsidiary. In June last year, Daimler and BAIC signed a framework agreement on further strengthening collaboration through investment for New Energy Vehicles in China, which included Daimler’s intention to become shareholder in BJEV. (Earlier post.)

This closer cooperation with both BAIC and BJEV will allow Daimler to further deepen its understanding of Chinese consumers’ needs, especially in the field of NEV.

BAIC BJEV’s battery-electric EX360 SUV is one of nine models the

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