8/6/2018

Report: Daimler in Talks to Make EVs in China

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Daimler AG is in discussions with Beijing Electric Vehicle Co. to make an all-electric version of the German company’s Smart brand ForTwo minicar, sources tell Bloomberg News.

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Daimler AG is in discussions with Beijing Electric Vehicle Co. to make an all-electric version of the German company’s Smart brand ForTwo minicar, sources tell Bloomberg News.

Beijing Electric, also known as BJEV, is a unit of Beijing Automotive Group Co., which has partnered with Daimler to build Mercedes-Benz cars in China since 2005. Bloomberg says Daimler and BJEV would launch a new EV-making joint venture.

Daimler acquired a 4% stake in BJEV in March to help it understand the needs of Chinese consumers. It isn’t clear how much equity Daimler would want in the new joint venture. Starting this year, China will allow foreign carmakers to launch wholly owned EV-making operations in the country.

Daimler currently imports German-built piston-powered Smart cars in China. The company also has partnered with China’s BYD Co. to make all-electric cars under the Denza brand.