According to a Reuters report on July 21, sources revealed that Beijing Auto Holding Co., Ltd. is negotiating with Fujian Automobile Industry Group to replace Daimler's business vehicle joint venture partner in China.
According to sources, Beijing Automotive hopes to acquire 50% of the joint venture company held by Fujian Auto.
It is reported that the Fujian Daimler Automotive Joint Venture was established in June 2007 and is expected to start production of Mercedes-Benz Vito and Vivian models later this year, and will introduce Mercedes-Benz Sprinter models next year. Fugas holds 50% of the company's shares, and Daimler and Taiwan Zhonghua Motor respectively hold 34% and 16% of the shares.
If the agreement between BAIC and Fuqi is reached, Fujian Daimler will become the third automobile manufacturing company established in China. At present, the joint venture established by Beijing Automotive and Daimler in Beijing is responsible for the production of Mercedes-Benz cars. At the beginning of this year, Beiqi Foton and Daimler signed an agreement to establish a joint venture truck manufacturing company with a total investment of 6.35 billion yuan, each holding 50% of the shares.
Ulrich-Walker, chairman and chief executive of Daimler Northeast Asia, declined to comment.
Earlier media pointed out that BAIC will reorganize the Daimler project of Fuqi. Daimler's Daimler project will be transformed into a Beijing Benz subsidiary. Fuqi will become the base for BAIC's commercial vehicle production; GAC will The most important part of the high-priced restructuring of the Fuqi - Southeast Automotive. Judging from the current situation, BAIC has taken the first step in splitting the blessing.
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