10
Ottobre
2014
|
02:00
Europe/Amsterdam

Strategic Partnership between Daimler and BAIC Deepens: Further Mercedes-Benz compact car models to be localized in China

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Strategic Partnership between Daimler and BAIC Deepens: Further Mercedes-Benz compact car models to be localized in China
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  • Signing ceremony during Chinese state visit in Berlin

  • €1 billion agreement on localization of further Mercedes-Benz compact car models beyond the GLA

  • Dieter Zetsche: "Today's signing shows again that we are both committed to our long-term partnership with BAIC and confident in our future in the key market of China."

  • Hubertus Troska: "Continuous investment in localization and a close cooperation network with strong partners has and will always be key elements of our strategy in China."

Berlin – In the presence of Germany's Chancellor Dr. Angela Merkel and Chinese Premier Li Keqiang, Daimler AG and its Chinese partner BAIC Motor Corporation today signed an agreement on the localization of further Mercedes-Benz compact car models beyond the GLA-Class at Beijing Benz Automotive Co., Ltd. (BBAC), the production joint venture of Daimler and BAIC Motor. The official signing took place with Hubertus Troska, Member of the Board of Management of Daimler AG responsible for China, and Xu Heyi, Chairman of the BAIC Group and its car division BAIC Motor.

The agreement will help Daimler strategically strengthen its local footprint, and shows the company's strong commitment to China and its strategic partner, BAIC. Daimler and BAIC Motor will invest a total of approximately €4 billion in their joint venture BBAC by 2015, including today's pledge of €1 billion for the localization of additional Mercedes-Benz compact car models.

Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars: "Today's signing shows again that we are both committed to our long-term partnership with BAIC and confident in our future in the key market of China. This strategic investment in the localization of compact cars will give us better access to the huge growth potential that this segment offers in the mid-term, and so pave the way for Mercedes-Benz's sustainable growth. With the all-new GLA-Class, we will lay the foundation starting early next year."

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