BAIC Group increases investment in Daimler Group to deepen long-term strategic cooperation between the two parties

On February 13, BAIC Group announced that it would continue to invest in Daimler Group and increase its shareholding to 9.98% to strengthen long-term strategic cooperation. Daimler Group holds shares of Hong Kong and Beijing A-share listed companies under BAIC Group. The two sides have become important strategic partners since 20 years ago, jointly promoting Sino-German industrial cooperation and technological innovation. BAIC Group is optimistic about the future transformation potential of Mercedes-Benz. The two sides have jointly launched a number of high-end new energy models, such as EQA, EQB, EQC and EQS, to contribute to China's carbon neutrality goals.