Official closing ceremony for strategic investment held in Beijing: Daimler AG is 12% shareholder in Chinese partner BAIC Motor

• Following green light from Chinese authorities: Official closing ceremony in Beijing for Daimler AG's 12% stake in leading Chinese manufacturer BAIC Motor

• Daimler is first non-Chinese automotive company to acquire an interest in a Chinese OEM

• Dr. Dieter Zetsche: "Strategic investment proves our long-term commitment to China and our partner"

• Daimler Board of Management members Hubertus Troska and Bodo Uebber receive seats on the Board of Directors of BAIC Motor

• Closing crowns tenth anniversary of strategic partnership between Daimler and BAIC

Daimler AG is taking a major step forward in its China strategy with the closing of the company's 12% investment in long-standing partner BAIC Motor, the passenger car unit of Beijing Automotive Group (BAIC Group), one of the top automotive companies in China. This important joint move breaks new ground as the first ever investment by a non-Chinese automotive company in a Chinese OEM. The official closing of the transaction, following a short time after the signing of the investment agreement between the two companies in Stuttgart earlier this year and a smooth approval by the relevant Chinese authorities, will boost the already strong and trusted partnership to the next strategic level. Daimler's investment will take place through the issuance of new shares corresponding to a 12% stake in BAIC Motor. With this investment, Daimler is proving its strong support for BAIC Motor's intention to launch an initial public offering (IPO) in the future.

In the presence of Wang Anshun, Mayor of The People's Government of Beijing, Daimler's Chairman of the Board of Management and Head of Mercedes-Benz Cars, Dr. Dieter Zetsche; Member of the Board of Management of Daimler AG responsible for Greater China, Hubertus Troska; and Member of the Board of Management and Chief Financial Officer of Daimler AG, Bodo Uebber, met today at the Hall of City Government in Beijing with Chairman Xu Heyi, Deputy General Manager Zhang Xiyong, and Chief Financial Officer Ma Chuanqi of BAIC to celebrate the closing of the transaction.

The agreement between the strategic partners includes two seats for Daimler on the Board of Directors of BAIC Motor, to be held by Hubertus Troska and Bodo Uebber. Furthermore, BAIC will increase its stake in the production joint venture Beijing Benz Automotive Corporation (BBAC) by 1% to 51%. At the same time, Daimler will increase its stake in the integrated sales joint venture Beijing Mercedes-Benz Sales Service Corporation (BMBS) by 1% to 51%.

In emphasizing the significance of the transaction, Dr. Dieter Zetsche stated: "This strategic investment proves our long-term commitment to both the key market China and our trusted partner BAIC Motor. Going forward, the cooperation between Daimler AG and BAIC Motor will contribute towards increasing our footprint in China and so enable us to actively participate even better in the huge opportunities the Chinese automotive market offers."

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