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Daimler and BAIC to invest 655 million euros to produce electric vehicles in China

Automotive News

The manufacture of these vehicles will be carried out from 2020.

Daimler has reached a principle in agreement with the Chinese company BAIC for the production of electric vehicles of the brand Mercedes-Benz in China, for which they will realize a joint investment of 5,000 million yuan (655 million euros).

The German group has indicated that the manufacture of these vehicles will be carried out from 2020 in the joint venture between them in Beijing, and will use local components and their capacities and local research and development operations.

Daimler head of the Chinese region Hubertus Troska said that his company is taking a strategic step in the field of electric vehicles in China and stressed that together with its local partner BAIC continue to invest in the largest market World for electromobility.

“By 2025, the Chinese market will account for a substantial part of the worldwide sales of Mercedes-Benz electric vehicles. Therefore, local production will be key to the success of our portfolio of electric models and crucial for flexibility in Serve the local demand for electric vehicles, “he added.

BAIC President Xu Heyi stressed that the two corporations are representatives of the German and Chinese automobile industries and pointed out that, on the basis of this framework agreement, they are deepening their cooperation.

POR EP – 07/05/2017 (Translation Soft)

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