Daimler AG and BAIC Group recently signed a framework agreement to strengthen the strategic collaboration for New Energy Vehicles in China through investments. The framework was signed in the presence of German Chancellor Dr. Angela Merkel and Chinese Premier Li Keqiang. Hubertus Troska, Member of the Board of Management of Daimler AG, responsible for Greater China said,”The framework agreement signed today marks a new chapter of our cooperation in terms of New Energy Vehicles. China today is already the world’s largest market for NEVs, and Daimler is committed to contributing to the further development of electric mobility in this country.” The joint venture between Daimler and BAIC motor, Beijing Benz Automotive Co., Ltd. (BBAC) was established in 2005 and is the largest Mercedes-Benz passenger car production hub worldwide for Daimler.
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