- China’s BAIC Group, partner of Mercedes-Benz and Hyundai, has unveiled a new brand called BEIJING in an effort to sharpen the competitive edge of its own passenger vehicle business.
- BJEV spent 159 million yuan ($22.5 million) in research and development in the first half of the year.
- In five years’ time, the group will invest 20 billion yuan to develop two new product platforms: one for hybrid cars and the other for electric vehicles.