#BAIC

Business

Daimler Angles for Control of China Venture

Daimler is quietly trying to take majority control of its carmaking operations in China.

Business

Report: BAIC Aims to Hike Stake in Daimler

China’s BAIC Group (Beijing Automotive Industry Holding Co.), which acquired a 5% stake in Daimler AG for $2.8 billion in July, wants to increase its holding in the German carmaker.

Conti Launches Third-Gen e-Axle

Continental AG says its third-generation electric drive system is smaller, lighter, less expensive and more efficient than previous versions.

Propulsion

Daimler to Add EV Production in China

Daimler AG will begin local production of its first electric vehicle in China, the EQC SUV/crossover, later this year.

Hybrid

Magna, BAIC Finalize China EV Partnership

Magna International Inc. and China’s BAIC Group (Beijing Automotive Industry Holding Co.) have agreed on a framework for the electric vehicle joint venture they announced last summer.

Car/Ride Sharing

Toyota Invests $600 Million in DiDi Chuxing

Toyota Motor Corp. is investing $600 million in Chinese ride-hailing giant DiDi Chuxing Technology Co.

Business

BAIC Buys 5% Stake in Daimler

China’s BAIC Group (Beijing Automotive Industry Holding Co.) has acquired a 5% stake worth €2.5 billion ($2.8 billion) in Daimler AG.

Business

China’s BAIC Aims to Buy Stake in Daimler

Chinese carmaker BAIC Group intends to acquire 4%-5% of Daimler AG as a way to defend its investment in the company’s Beijing Benz Automotive venture with the German carmaker, sources tell Reuters.

Propulsion

Toyota to Supply Fuel Cell Tech to Beijing Automotive

Toyota Motor Corp. says it will supply its fuel cell powertrain technology for commercial buses built in China by Beijing Automotive Group Co.

Hybrid

SK Innovation Seeks Battery Ventures with VW, Chinese Partners

South Korea’s SK Innovation is in talks with Volkswagen and unnamed Chinese partners to set up ventures to make batteries for electric cars, Reuters reports.

Business

Hyundai To Suspend Operations at a Factory in Beijing

Hyundai Motor Co. plans to adjust to slumping sales in China by shutting down the oldest of three assembly plants it operates in Beijing with partner BAIC Group.

Production

SK to Add Second EV Battery Plant in Hungary

Seoul-based battery maker SK Innovation Co, plans to build a second factory in Hungary to supply batteries for electrified vehicles.

Hybrid

Historic Spanish Brand to Unveil EV Concept

Barcelona-based Hispano Suiza Automobiles, whose origins date back to the early 1900s, plans to unveil a concept electric vehicle at the Geneva auto show in March.

Business

Hyundai Cuts Jobs, Reviews Production in China

Hyundai Motor Co.’s joint venture with BAIC Motor Corp. is trimming its workforce and pondering production cuts as output at its factories in China slumps to 50% of capacity.

Propulsion

SK Innovation to Hike Battery Capacity Tenfold

South Korean battery maker SK Innovation Co., which supplies batteries for electrified vehicles to BAIC, Daimler and Volkswagen, says it will boost its output capacity more than tenfold by 2022.

Sales

Domestic Brands Suffer as China Car Sales Sink

China’s domestic carmakers are taking the brunt of the country’s new-car sales slump, according to The Nikkei.

Business

Daimler May Hike Stake in BAIC Venture

Daimler AG reportedly is pondering a move to increase its 49% stake in a carmaking venture with China’s BAIC Motor Corp. to at least 65% in 2022.

Propulsion

SKI to Open Massive Battery Plant in Georgia

South Korea’s SK Innovation Co. is investing nearly $1.7 billion to construct what it claims will be the largest manufacturing plant for lithium-ion batteries in the U.S.

Economics

Saudi Fund Invests in Lucid Motors

Lucid Motors Inc., a California-based electric vehicle startup, says it has secured more than $1 billion from Saudi Arabia’s Public Investment Fund (PIF). A Reuters report last month indicated such a deal was being considered.

Hybrid

Report: Saudi Fund in Talks with Lucid Motors

Saudi Arabia’s Public Investment Fund, which bought a nearly 5% stake in Tesla Inc. earlier this month, is mulling a $1 billion investment to gain majority ownership of rival electric vehicle maker Lucid Motors Inc.

Production

Magna Partners in China on Contract Assembly Plan

Magna International Inc.’s month-old joint venture with BAIC Group aims to building vehicles for ride-hailing giant DiDi Chuxing Technology Co., sources tell Reuters.

Propulsion

Magna Partners with BAIC to Make EVs in China

Canada’s Magna International Inc. has formed two joint ventures with Beijing Electric Vehicle Co. (BJEV) to build electric cars in China, starting in 2020.

Propulsion

Daimler, BAIC Plan $1.9 Billion Assembly Plant in China

BAIC Motor Corp. and Daimler AG say in a regulatory filing they will invest a combined 11.9 billion yuan ($1.9 billion) in a new plant to make Mercedes-Benz passenger vehicles in China.

Car/Ride Sharing

Didi Chuxing and What’s Missing

While the global car sharing market is anticipated to grow 34 percent annually between 2017 and 2024, the rate is expected to be 40 percent in China.