Mexican Media Brands
Zetsche Confirms Daimler in Talks About Equity Sale to BAIC
Daimler AG CEO Dieter Zetsche confirms to Reuters that the carmaker is discussing a possible equity sale to China's BAIC Motor Corp.
#economics
Share
Daimler AG CEO Dieter Zetsche confirms to Reuters that the carmaker is discussing a possible equity sale to China's BAIC Motor Corp.
A Taiwanese media report last month cited BAIC Chairman Xu Heji as saying the companies were in talks and a deal was expected by year-end. Daimler currently holds a 10% stake in BAIC, a Hong Kong-listed unit of Beijing Automotive Group.
The two companies have partnered for years in assembling Mercedes-Benz passenger vehicles and commercial trucks in China. Daimler's largest shareholder is Kuwait's investment authority Investment Dar with a 6.8% stake.
Zetsche says any equity sale to BAIC would be structured not to dilute the stakes of current shareholders.
RELATED CONTENT
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.