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Daimler expands cooperation with Chinese car maker

Last Updated: Saturday, February 02, 2013, 18:29

The Stuttgart-based company has purchased a 12-percent stake in the Chinese state producer's passenger vehicle business, BAIC Motor, announced Daimler in Baden-Württemberg Friday. Both companies agreed on the deal in the run-up to a planned IPO by BAIC.

Daimler expands cooperation with Chinese car maker

Last Updated: Saturday, February 02, 2013, 13:49

Car manufacturer Daimler is hoping to improve its stuttering performance on the Chinese automobile market by strengthening its partnership with the Beijing Automotive Group (BAIC).