Foreseeing further growth potential in the Chinese automotive market, Daimler and BAIC today announced plans to further expand local production for the Mercedes-Benz brand at their joint venture, Beijing Benz Automotive Co (BBAC). Through an investment totaling over 11.9 billion RMB (about 1.5 billion euros) by Daimler and BAIC, BBAC will prepare to operate another… Continue reading Daimler to expand local Mercedes-Benz production with BAIC in China
Tag: M and A
Stoneacre Motor Group continues 2018 acquisitions with Burrows Motor Group Hyundai and Fiat deal
Stoneacre Motor Group has followed-up its January acquisition of Nottingham’s Chris Variava dealership complex with the completion of a deal to secure Burrows Motor Group’s Hyundai and Fiat franchises in Sheffield.
Opel needs more time again
The steering wheel can not be changed that fast: Even under the new owner PSA, the car manufacturer Opel is making heavy losses. Employees are wondering how hard the austerity program will be. Opel plant in Eisenach Monday, 26/02/2018 08:52 clock How much will remain of Opel after the takeover by the French PSA Group… Continue reading Opel needs more time again
Daimler to expand local Mercedes-Benz production with its partner in China
Daimler and BAIC announce plans to expand local production of Mercedes-Benz vehicles due to expected market demand in China Local production hub Beijing Benz Automotive Co. Ltd. (BBAC) to operate additional production location Investment of over 11.9 billion RMB to prepare BBAC for further growth opportunities in the Chinese automotive market 2nd Beijing production location… Continue reading Daimler to expand local Mercedes-Benz production with its partner in China
Mapbox Launches Global Reality-Grade AR Location Platform
BARCELONA, Spain, Feb. 26, 2018 /PRNewswire/ — As static 2D maps fade away with the bezels of mobile phones, the future interfaces for navigation and gaming exist in augmented reality. App developers need new frameworks and reality-grade location data to build the next generation of spatially-enabled augmented reality experiences. Mapbox AR is the first comprehensive toolkit… Continue reading Mapbox Launches Global Reality-Grade AR Location Platform
Naza Corporation Holdings and Groupe PSA Establish a Shared Manufacturing Hub In ASEAN
RUEIL-MALMAISON, France–(BUSINESS WIRE)–Regulatory News: Today, Groupe PSA (Paris:UG) and Naza Corporation Holdings announced the signing of a share sale agreement and a joint venture agreement, officially establishing shared operation of the Naza Automotive Manufacturing (NAM) plant in Gurun, Kedah, as the first manufacturing hub in ASEAN for Groupe PSA. In attendance to witness, the event… Continue reading Naza Corporation Holdings and Groupe PSA Establish a Shared Manufacturing Hub In ASEAN
Chinese major shareholder launches multi-day charm offensive: Li Shufu visiting Daimler, Berlin relaxed
All articles and backgrounds 02/25/2018 Chinese major shareholder launches multi-day charm offensive Li Shufu visiting Daimler, Berlin quite relaxed REUTERS Largest Daimler shareholder on tour: Geely boss Li Shufu launched a multi-day charm offensive in Stuttgart and Berlin shortly after his entry Just yet a competitor, today already a major shareholder and guest in Stuttgart:… Continue reading Chinese major shareholder launches multi-day charm offensive: Li Shufu visiting Daimler, Berlin relaxed
China’s Geely Buys $9 Billion Daimler Stake
The billionaire founder of Zhejiang Geely Holding Group Co. has accumulated a stake worth about 7.3 billion euros ($9 billion) in Daimler AG, marking the biggest investment in a global automobile manufacturer by a Chinese company. Li Shufu acquired the 9.7 percent holding through Geely Group, a company owned by the 54-year-old and managed by… Continue reading China’s Geely Buys $9 Billion Daimler Stake
Geely seeks meetings with Daimler, Berlin next week -sources
FRANKFURT/BEIJING (Reuters) – Officials from Chinese carmaker Geely (0175.HK) plan to meet Daimler (DAIGn.DE) executives early next week after announcing the acquisition of an almost 10 percent stake in the Mercedes maker, two sources familiar with the situation said. They also hope to meet top German government officials in Berlin, the sources told Reuters on… Continue reading Geely seeks meetings with Daimler, Berlin next week -sources
Geely boss Li Shufu speaks of prolonged engagement – and does not see himself as a competitor: what the “Henry Ford China” intends to do with Daimler
All articles and backgrounds 02/24/2018 Geely boss Li Shufu speaks of a longer commitment – and does not see itself as a competitor What Daimler’s new major shareholder from China sets REUTERS Largest Daimler shareholder – and at the same time a competitor: Geely CEO Li Shufu wants to promote electromobility with the people of… Continue reading Geely boss Li Shufu speaks of prolonged engagement – and does not see himself as a competitor: what the “Henry Ford China” intends to do with Daimler