Daimler AG and its Chinese partner Beijing
Automotive Industry Corporation (BAIC Group) have signed an agreement on the
further expansion of the production capacities of their joint venture Beijing
Benz Automotive Co., Ltd. (BBAC).
With this agreement, Daimler
is boosting its business activities in China as well as its strategic
partnership with BAIC. Of the €4 billion currently being invested in BBAC, the
€1 billion specified in the agreement is to be used solely for the expansion of
local car and engine production capacity until 2015.
