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Daimler and BAIC signed a framework agreement last month to upgrade production facilities at BBAC to make New Energy Vehicles, a label for so-called low-emission vehicles which include hybrid and pure battery electric cars.
BAIC is currently Daimler’s third largest shareholder but a stake of 10% will make it the biggest shareholder, surpassing its Chinese automaking rival Zhejiang Geely Holding Group which owns 9.69% of the German automaker and is seeking to expand its partnership with Daimler in China.
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In October, domestic rival Chongqing Changan Automobile Co Ltd said it aimed to stop selling conventional combustion-engine cars from 2025, making it one of the first Chinese firms to commit to a total shift to NEVs.
GENEVA, March 6 (Reuters) — Daimler Chief Executive Dieter Zetsche on Tuesday welcomed Geely Chairman Li Shufu as a new shareholder and said any industrial alliance will depend on whether current China partner BAIC agrees.
BERLIN, June 1 (Reuters) — Daimler will sign a memorandum of understanding with China’s BAIC Motor Corporation about producing a Mercedes-Benz electric car, German government documents showed on Thursday.
HONG KONG, Feb 25 (Reuters) — Baic Motor Corporation and Daimler AG are planning to co-invest more than 11.9 billion yuan ($1.88 billion) to build a new local production base for their joint venture, Beijing Benz Automative, Baic said on Sunday.
The Germans in March agreed to build the next generation of Smart-branded city cars together with Geely, which is based in Hangzhou.
Daimler has also reassured BAIC that any new industrial alliances involving Mercedes and a Chinese partner would only happen after a consensus is found with BAIC. (Editing by Georgina Prodhan, Brenda Goh, Jennifer Hughes, Douglas Busvine and Alexandra Hudson)
The payouts started on Monday in Phitsanulok, Phichit, Kamphaeng Phet, Lop Buri, Khon Kaen, Surin, Si Sa Ket, and Maha Sarakham provinces where a total of 14,311 registered rice growers received payments.
Daimler said in a regulatory filing on Friday that HSBC held 5.23% in Daimler’s voting rights directly as well as through instruments such as equity swaps as of Nov 15.
BAIC has used HSBC to help it build its initial 5% stake.
But Thailand plans to hold off state auctions to avoid oversupplying the market, said Prime Minister Prayuth Chan-ocha, who also serves as head of the rice management committee.
«It was the relationship to Volvo, possible cooperation in China, and about a shareholding,» Zetsche told reporters in Geneva.
«To the third topic, we said we welcome this. In this respect, he did what he had announced.»
Thai jasmine rice made up 25 percent of Thailand’s total rice exports from January to August this year, according to data from the Thai Rice Exporters Association.
The state-owned Bank for Agriculture and Agricultural Cooperatives (BAAC) will store 2 million tonnes while the government will help pay rice millers to store the remaining 8 million tonnes, she said.
The ACT’s first nurse walk-in centre opened at the Canberra Hospital precinct in 2010, before closing in June 2014, with two new centres opening in Belconnen and Tuggeranong the following week [2] [3].
A third centre opened in Gungahlin in September 2018 [4], and another is due to open by the end of this year [5]. There is no data for Gungahlin yet.
«We will examine everything if it is in keeping with the wishes of our partner,» Zetsche said, adding that Li had underlined his positive view of Daimler’s management and areas of potential cooperation.
The factory, near car export hub of Port Elizabeth, will be the first new car plant in South Africa in four decades and is expected to build 50,000 vehicles a year by 2022, half its estimated peak output, company officials said.
BEIJING, June 7 (Reuters) — Daimler AG’s main China joint venture with BAIC Motor plans to add a shift and working days at two Beijing plants that will boost nominal capacity to make Mercedes-Benz cars by 45%, a document on the venture’s Chinese website showed.
The Bank for Agriculture and Agricultural Co-operatives (BAAC) expects to complete paying 3.49 million rice farmers a state subsidy of 1,000 baht ($31.027) per rai, with a maximum payment of 15,000 baht per farmer by the end of next month.