BAIC Group (Beijing Automotive Industry Holding) is China’s largest state car and engineering holding company with headquarters in Beijing.
BAIC Motor
One of the group’s listed subsidiaries is passenger car manufacturer BAIC Motor, which ranks among the top 10 carmakers in the world in terms of EV sales. Through joint ventures, the company produces cars under the Hyundai and Mercedes brands for the Chinese market.
M&A activities
In 2013, Germany’s Daimler acquired an equity interest in BAIC Motor, a listed subsidiary of BAIC Group, and as of July 2018 held 9.55% of its shares. In 2018, Daimler also bought 3.01% in BAIC BluePark New Energy Technology, a manufacturer of electric vehicles for China. In July 2019, BAIC Motor acquired around 5% percent in Daimler AG through Investment Global, a wholly-owned subsidiary.
