BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Daimler (DDAIF.PK) reported that its long-standing partner BAIC Group (Beijing Automotive Group Co. Ltd.) is now a long-term investor in Daimler. BAIC has acquired an equity interest of approximately five percent in Daimler AG through Investment Global Co.
'The Chinese market is and remains a crucial pillar of our success - not only for sales, but also for our product development and production,' said Ola Källenius, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars.
Daimler holds 9.55 percent of equity interest in BAIC Motor, a listed subsidiary of BAIC.
Copyright RTT News/dpa-AFX