
German auto firm Daimler AG on Monday opened a joint-venture to produce engines for Mercedes-Benz cars in Beijing, its first overseas engine plant for the brand. The plant run by Beijing Benz Automotive Corporation, Daimler’s joint venture with Beijing Automotive Industry Holding Corp (BAIC), has a production capacity of 250,000 engines in the initial phase, the German company was quoted by German News Agency (DPA) as saying. “The investment of around 400 million euros (540 million dollars) in our first ever passenger-car engine plant outside of Germany demonstrates … our confidence in Mercedes-Benz’s prosperous future here in China,” said Hubertus Troska, head of Daimler Greater China. Daimler said the opening of the plant is “an important milestone” in its China strategy. Xu Heyi, the chairman of BAIC, said Daimler and BAIC plan to sign a strategic cooperation agreement on Tuesday. Daimler officials declined to comment on speculation that Tuesday’s deal will cement an outline plan announced in February for Daimler to acquire a 12-per-cent stake in BAIC and two seats on its board. In August, Daimler announced plans to invest some 2 billion euros to more than double production capacity in China and raise annual sales in the country to 300,000 units by 2015.
GMT 09:47 2018 Tuesday ,23 January
SAP unveils big push into French tech start-upsGMT 05:07 2018 Tuesday ,23 January
Noble Group shares surge 37 percent on buyout talksGMT 19:07 2018 Monday ,22 January
BAKS spent Dh225m on charity projects in 2017GMT 22:52 2018 Sunday ,21 January
French firm "recalls baby milk product"GMT 22:27 2018 Sunday ,21 January
US company plans funds that double bitcoin price movesGMT 21:23 2018 Sunday ,21 January
Pence starts Mideast tour in Egypt amid Arab angerGMT 08:54 2018 Saturday ,20 January
Million-euro bill for firm behind Paris bike-share chaosGMT 10:47 2018 Friday ,19 January
German chemical giant BASF sees 'significant' profit leap

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor