- BAIC Group has acquired a 5 percent stake in Daimler AG, a reassuring move for the State-owned carmaker concerned about profitability in a sluggish market, and with the German automotive giant under the helm of a new head seeking further success in China.
- In the same period, China’s passenger car market fell 14 percent year-on-year.
- It runs a joint venture with BYD, another new energy vehicle giant in China, to develop and produce Denza-branded electric vehicles.