BAIC Motor Corp Ltd (1958.HK)
15 Dec 2017
GUANGZHOU/BEIJING Germany's Daimler AG plans to invest 5 billion yuan ($755 million) in China, jointly with its Chinese joint-venture partner, for capacity to produce electric cars and the batteries that power them - part of an effort to help its China operations comply with the country's green car production and sales quotas.
* Daimler China JV to produce batteries using local Chinese tech
* Company and Daimler Greater China entered into capital increase agreement
* Says it signed strategic co-operate framework agreement with BAIC Motor Corporation Ltd on intelligent human-computer interaction technology, vehicle intelligent and artificial intelligence technology, big data analysis, intelligent vehicle networking platform and marketing resources business
* Enters into strategic cooperation framework agreement between company and Ifytek Co., ltd Source text for Eikon: Further company coverage:
BRIEF-BAIC Motor Corp and Yanfeng Automotive Trim Systems enter strategic cooperation framework agreement
* Co and Yanfeng Automotive Trim Systems entered into a strategic cooperation framework agreement Source text for Eikon: Further company coverage:
* Chongqing to invest over 100 bln yuan for "new energy strategy"
* Plant was suspended as supplier reacted to delayed payments (Adds further Hyundai comment, background)
* S&P cuts outlook on Hyundai and Kia (Adds S&P statement, analyst comments and closing share prices)
SEOUL, Sept 8 South Korean automaker Hyundai Motor Co said on Friday it will continue its Chinese joint venture with BAIC Motor, shrugging off investor concerns about soured relationships between the partners.