Daimler, BAIC to invest $735 million in electric vehicles in China

Daimler, BAIC to invest $735 million in electric vehicles in China

FRANKFURT (Reuters) – Germany’s Daimler and its Chinese joint venture partner BAIC Motor Corporation have agreed to jointly invest 5 billion yuan ($735 million) in battery electric vehicle production in China by 2020 and to provide the infrastructure needed.

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