BAIC to be Benz's top partner
By Yang Ziman in Beijing and Hu Meidong in Fuzhou | China Daily | Updated: 2016-06-23 07:45
BAIC Motor Corp Ltd has become the biggest partner of Daimler's Mercedes-Benz brand in China. That's after a share restructuring of the German manufacturing base in eastern China.
The ownership change follows BAIC's acquisition on Monday of more than 35 percent of the shares in Fujian-based FJMotor, holding company of Fujian Benz Automotive Industry Co Ltd.
Fujian Benz, formerly called Fujian Daimler Automotive Industry Co, is a Sino-German venture that was formed by FJMotor and Daimler Vans Hong Kong Ltd, which had 50 percent stake, respectively.
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