October 11, 2014

Mercedes-Benz compact car models to be localised in China

In the presence of Germany's Chancellor Dr. Angela Merkel and Chinese Premier Li Keqiang, Daimler AG and its Chinese partner BAIC Motor Corporation signed an agreement on the localisation of further Mercedes-Benz compact car models beyond the
GLA-class at Beijing Benz Automotive Co., Ltd. (BBAC), the production joint-venture of Daimler and BAIC Motor. The official signing took place with Hubertus Troska, Member of the Board of Management of Daimler AG responsible for China, and Xu Heyi, Chairman of the BAIC Group and its car division BAIC Motor.

The agreement will help Daimler strategically strengthen its local footprint, and shows the company's strong commitment to China and its strategic partner, BAIC. Daimler and BAIC Motor will invest a total of approximately €4-billion in their joint-venture BBAC by 2015, including this pledge of €1-billion.

"Today's signing shows again that we are both committed to our long-term partnership with BAIC and confident in our future in the key market of China. This strategic investment in the localisation of compact cars will give us better access to the huge growth potential that this segment offers in the mid-term, and so pave the way for Mercedes-Benz's sustainable growth. With the all-new GLA-class, we will lay the foundation starting early next year," said Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars.


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