China's BAIC buys 5% stake in Daimler

(Daimler AG - Global Communicatio/Daimler AG)

By:

Tom Sims

By:

Reuters

July 23, 2019 07:37 AM

FRANKFURT -- China's Beijing Automotive Group Co. (BAIC) has bought a 5 percent stake in Daimler, cementing its relationship with the German automaker after China's Zhejiang Geely Holding emerged as a potential rival.

Featured Stories

Detroit 3 scrutinize supply chains harder than ever amid tariff war

BMW expects that U.S. tariffs will not last long but warns of €1 billion hit

Ford CEO Jim Farley’s 2024 compensation falls to $24.9 million

U.S. vibe shift: 5 takeaways from January’s mixed EV registration numbers

Latest News

10 federal policies that shaped the modern auto industry

Detroit 3 scrutinize supply chains harder than ever amid tariff war

Kenichi Kawaji named new Mitsubishi Canada CEO

FTC: Nearly $1 million in refunds tied to settlement with Vroom going out to customers

Staying current is easy with newsletters delivered straight to your inbox.

See More in Automakers

Kenichi Kawaji named new Mitsubishi Canada CEO

VW’s Ontario PowerCo plant faces potential tariff disruption, slower ramp up on lagging EV sales, exec warns

Steve Flamand appointed CEO of Hyundai Canada as Don Romano moves abroad

Cleveland-Cliffs is incentivizing workers to buy American cars

Staying current is easy with newsletters delivered straight to your inbox.