Daimler eyes investment in China's BAIC Motor in 2013

Share: 

 

Daimler wants to buy a stake in the car unit of its Chinese partner BAIC Group this year as part of a drive to bolster its sagging position in the country, two sources close to the plans said January 18, Global Times reported.

BAIC is planning to take its BAIC Motor unit public in late 2013 or in 2014 and Daimler - owner of luxury marque Mercedes-Benz - could take a stake of roughly 10 percent ahead of that flotation, giving it greater exposure to the Chinese market, the sources said.