BAIC: Chinese carmaker acquires 5% stake in Daimler

One of China's largest automakers has acquired a five per cent stake in Mercedes-Benz's parent company, Daimler. BAIC Group has been working with Daimler since 2003, and their Chinese joint venture sold 485,000 cars in 2018. Beijing Benz, as the JV is known, is responsible for building the E-Class LWB and C-Class. Another joint venture between the pair, known as Fujian Benz, builds the Viano, Vito and Sprinter in China.