Daimler takes 12% stake in Chinese parter BAIC Motor; first non-Chinese automotive company to acquire an interest in a Chinese OEM
Green Car Congress
NOVEMBER 19, 2013
Furthermore, BAIC will increase its stake in the production joint venture Beijing Benz Automotive Corporation (BBAC) by 1% to 51%. At the same time, Daimler will increase its stake in the integrated sales joint venture Beijing Mercedes-Benz Sales Service Corporation (BMBS) by 1% to 51%. China Market Background Vehicle Manufacturers'
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