BAIC and Daimler to build $1.9 billion China assembly plant

Daimler AG and BAIC Motor Corp. are two of the top car producers in the world today. The two companies are now teaming up on a joint effort that will bring more jobs and luxury vehicles to China. The two companies recently announced that they will be teaming up to build a plan that will cost $1.9 billion in US dollars and will eventually be used to build Mercedes Benz cars and SUVs in China.

The need for the new plant comes at a time in which China has a growing demand for luxury vehicles and electric cars. The new factory will start by focusing on a variety of Mercedes Benz cars that are either electric or have higher-eficiency engines. This also goes along with the country’s renewed efforts to reduce local pollution.

Thie story of the new plan being developed comes at a time of a lot of change for Daimler. Over the past few weeks it was announced that the owners of the Geely auto group in China had been making a push to buy more stock in Daimler. The company, which is privately owned and is led by CEO Li Shufu,is reportedly working to acquire a larger stake in Daimler. The main reason for this is so he will have greater access to Mercedes Benz vehicles. As of today, Geely owns just under 10% of the Daimler company and is currently the largest investor in the company, which is the parent company for Mercedes Benz and other companies.

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Carl Michael
Carl Michael captivated with the gleaming catches inside his awesome uncle's Buick Electra, it didn't take him long to get snared on the auto culture; both in the city and in hustling. Carl has worked for a noteworthy oil organization as a business agent covering a region of 40 corner stores. A while later, he turned into an escort to high positioning legislators and government authorities. Through happy stories, he investigates the connection amongst Driver and Machine. When he is not caught up with expounding on autos, he appreciates driving his 1997 Lincoln Mark VIII LSC or his 2001 Ford F150 7700.