logo
Plus   Neg
Share
Email

Daimler Acquires Stake In Beijing Electric Vehicle Co. - Quick Facts

Daimler (DDAIF.PK) announced it has become a shareholder in Beijing Electric Vehicle Co., Ltd., a subsidiary of BAIC Group, through acquisition of a 3.93% stake. As one of China's leading pure electric vehicle manufacturers, BJEV's primary business scope covers research and development, production, as well as sales and services for New Energy Vehicles and core NEV components.

Hubertus Troska, Member of the Board of Management, Daimler AG, responsible for Greater China, said: "The investment in BJEV marks yet another milestone in the strong cooperation between Daimler and BAIC for New Energy Vehicles in China, and it underlines our commitment to the further development of electric mobility in this country."

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
California's insurance regulator has filed a lawsuit against AbbVie Inc. for allegedly giving illegal kickbacks to health care providers to prescribe its arthritis drug Humira. The lawsuit filed in Alameda County Superior Court by the California Department of Insurance alleges that private insurers have paid out $1.2 billion in Humira-related pharmacy claims. Danske Bank A/S's Chief Executive Thomas Borgen resigned on Wednesday after the Danish lender announced the results of an internal probe relating to a money-laundering scandal in its branch in Estonia that involved payments of about 200 billion euros. Danske Bank said its investigation covered about 15,000 customers and a total of around 9.5 million payments through the branch. The Competition and Markets Authority (CMA) in the United Kingdom confirmed Wednesday that the proposed merger between J Sainsbury plc (JSAIY.PK, SBRY.L) and Asda Group Ltd. is being referred for an in-depth Phase 2 investigation. CMA noted that the deal raises sufficient concerns through its Phase...
Follow RTT