Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

Huawei Copies Korean Rivals by with Manufacturing Own Display Driver Integrated Chips
JOYY’s Livestreaming Revenue Up 40% in Second Quarter of 2020
Trending in China: ‘Mukbangs’ Under Fire in China Amid High Level Food Waste Campaign
Trending in China: How Will the Chinese Diaspora Survive a WeChat Ban In U.S.?
Online Platform Buys into Bricks and Mortar Convenience Store Chain
China Unicom Profits Rise in First Half, Stock Soars
ByteDance in Talks with Indian Conglomerate Over TikTok Amid Layoff Fears
Alibaba’s Zhang Yong Tops 2020 Forbes China Best CEOs List
Trending: Family Feud Raises Big Questions Over Succession in China’s Multi-Million “Family” Businesses
Shanghai-Listed Foxconn Internet’s Cloud Service Sales Up 4% in First Half of 2020
U.S.-Listed Chinese Companies Nio and Huya Have Something to Cheer About
Apple Edges Huawei Out of No. 1 in Quarterly Tablet Shipments
Chinese Finance Platform Lufax Files for U.S. IPO of up to $3 Billion
China Mainland Leads U.S. in Fortune Global 500 Companies But Trails in Profitability
Trending in China: Tencent – Fighting Youth Unemployment or Enemy of Older Workers?
Tencent Pushes for Merger That Would Create $10 Billion Chinese Twitch
Tencent Music to Establish Joint Venture with Universal Music
Trending: How U.S.-China Relations Are Causing Netizens to Read the Small Print as Rumors Fly
Qualcomm Lobbies U.S. to Resume Chip Sales to Huawei
Trending in China: Excited About Returning to College Campuses? Not So Quick With Covid-19 Controls
BAIC Group Takes Stake in Daimler

By Tianyu M. Fang / Jul 23, 2019 06:20 PM / Business & Tech

Photo: VCG

Photo: VCG

The Beijing-based BAIC Automotive Group Co. has purchased a stake in Germany’s Daimler AG, which owns Mercedes-Benz, the Chinese state-owned carmaker announced Tuesday.

The investment aims to strengthen the long-term strategic cooperation between the two companies, BAIC said. The stake includes a 2.48% direct holding, the right to purchase a further 2.52%, and voting rights.

In 2005, BAIC and Daimler established Beijing Benz, a joint venture that manufactures Mercedes-Benz automobiles in China. Since 2013, Daimler has owned shares in BAIC’s Hong Kong-listed subsidiary, BAIC Motor Corp. Ltd., where the German company sits on the board of directors.

Related: China's Top Electric-Car Maker Plans $4.5 Billion Listing 

Share this article
Open WeChat and scan the QR code