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Daimler to expand electric mobility capacity in Asia

Daimler has taken a strategic step forward in the field of electric mobility after committing to further invest in an existing, high-profile Joint Venture with China’s BAIC Motor.

In the presence of German Chancellor, Angela Merkel, and Chinese President, Xi Jinping, the two companies pledged to jointly invest a total of five billion RMB (ca. A$967 million) in the production of Battery Electric Vehicles (BEVs).

While the project will be driven by the Mercedes-Benz brand, the joint venture behind it is trading as Beijing Benz Automotive Co. (BBAC).

“Daimler and BAIC Motor are preparing to locally produce Battery Electric Vehicles by 2020 at BBAC, and to provide the necessary infrastructure for battery localisation using Chinese cells, as well as research and development capacities,” said Hubertus Troska, Member of Daimler’s Board of Management.

“Daimler is taking a strategic step forward in the field of Battery Electric Vehicles in China. Together with our local partner BAIC, we are all in.”

Troska said the Chinese market would have a “substantial share” in global sales of Mercedes-Benz electric vehicles by 2025. “Therefore, local production will be key to the success of our EV portfolio, and crucial to flexibly serving local demand for electric vehicles.”

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