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Germany's Daimler to take minority stake in Chinese electric car venture
June 1, 2017 / 9:55 AM / 4 months ago

Germany's Daimler to take minority stake in Chinese electric car venture

BEIJING (Reuters) - German automaker Daimler said on Thursday it will become a minority shareholder in its Chinese joint venture partner Beijing Automotive Group’s (BAIC Group) [BEJINS.UL] electric vehicle subsidiary.

Daimler, which makes Mercedes-Benz brand cars, will also upgrade current JV production facilities with BAIC to produce new energy vehicles.

Reporting by Jake Spring; editing by Nick Macfie

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