BERLIN (Reuters) – Daimler on Monday said its Chinese shareholder Beijing Automotive Group Co Ltd (BAIC) has agreed not to further increase its stake in the German luxury carmaker beyond the 9.98% stake it has held since 2019.
Daimler said it holds a 9.55% stake in BAIC Motor and a 2.46% stake in BAIC BluePark.
“This underlines the successful partnership to continue the long-term success of Mercedes-Benz in China,” Daimler said in a statement.
(Reporting by Riham Alkousaa; Editing by Paul Carrel)
