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."

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Alphabet Inc.'s Google said Monday that it will expand its presence in New York City by investing over $1 billion in capital requirements to establish a new campus known as Google Hudson Square. Google noted that its investment in New York is a huge part of its commitment to grow and invest in U.S. facilities, offices and jobs. Blockchain and artificial intelligence are the fastest-growing job categories, according to a report published by LinkedIn, the networking platform for professionals. Blockchain Developer is topping the list amid the ongoing hype around blockchain and cryptocurrency. As per the Emerging Jobs Report for 2018, the U.S has seen a surge in demand for people with blockchain development skills. Shares of General Electric Co. are rising more than 10 percent on Thursday after the industrial conglomerate said it plans to establish a new, independent company focused on building a comprehensive Industrial Internet of Things or IIoT software portfolio. In addition, longtime bearish analyst Stephen Tusa of J.P. Morgan upgraded shares of GE to neutral.
Follow RTT