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

Jul 5, 2017 | Bad Credit Loans, Bank Lending, Business Lending, Business Loans, Capital, Economics, Finance, Non-Bank Loans, Working Capital

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.