Daimler AG Acquires 12% Stake in BAIC Motor

BEIJING, Nov. 19, 2013 /PRNewswire/ -- Following green light from Chinese authorities: Official closing ceremony in Beijing for Daimler AG's

12% stake in leading Chinese manufacturer BAIC Motor Daimler is first non-Chinese automotive company to acquire an interest in a Chinese OEM Dr. Dieter Zetsche: "Strategic investment proves our long-term commitment to China and our partner" Daimler Board of Management members Hubertus Troska and Bodo Uebber receive seats on the Board of Directors of BAIC Motor Closing crowns tenth anniversary of strategic partnership between Daimler and BAIC Daimler AG is taking a major step forward in its China strategy with the closing of the company's 12% investment in long-standing partner BAIC Motor, the passenger car unit of Beijing Automotive Group (BAIC Group), one of the top automotive companies in China. This important joint move breaks new ground as the first ever investment by a non-Chinese automotive company in a Chinese OEM. The official closing of the transaction, following a short time after the signing of the investment agreement between the two companies in Stuttgart earlier this year and a smooth approval by the relevant Chinese authorities, will boost the already strong and trusted partnership to the next strategic level. Daimler's investment