Live
- Phase 1 polls in 102 seats across 21 states today
- 39 candidates file papers on Day 1
- ED arrests AAP MLA Amanatullah Khan in Waqf Board appointment scam
- LS polls: Union Minister Bhagwanth Khuba, Dingaleshwara seer, Priyanka Jarkiholi file nominations in K'taka
- Amid show of strength, Congress’ Praniti Shinde files nomination from Solapur
- Tamil Nadu Police gives clean report to Isha Foundation in missing volunteers case
- Home Minister Amit Shah to address public meeting in Goa on April 24
- Gurgaon Open: M Dharma fires 67 for two-shot lead on penultimate day
- Sharad Pawar made many attempts to finish Shiv Sena, claims Maha minister
- Former England opener Raman Subba Row dies aged 92
China's BAIC picks 5% stake in Daimler
China’s state-owned BAIC has taken a 5 per cent stake in Daimler, whose top shareholder for the past year has been rival Chinese carmaker Geely, the luxury German automaker said on Tuesday.
Berlin: China's state-owned BAIC has taken a 5 per cent stake in Daimler, whose top shareholder for the past year has been rival Chinese carmaker Geely, the luxury German automaker said on Tuesday.
Daimler, which produces the luxury brand Mercedes-Benz, has long worked with BAIC in China and has previously said it was possible that BAIC could purchase a stake in its capital.
"We are very pleased that our long-standing partner BAIC is now a long-term investor in Daimler," chief executive Ola Kallenius said in a statement.
"This step reinforces our successful partnership and is a signal of trust in the strategy and future potential of our company," he added.
Daimler has long worked with Beijing Automotive Group Co Ltd (BAIC) in China and has previously said it was possible that BAIC could purchase a stake in its capital.
The two companies have been partners in the production of Daimler vehicles in China and Daimler owns a nearly 10 per cent stake in BAIC Motor, a listed BAIC subsidiary.
