Beijing Automotive Group
The Beijing Automotive Industry Holding company name Company Limited or Corporation Limited (Chinese北京 汽车工业 控股 有限 责任 公司, Pinyin Běijīng qìchēgōngyè jìnchūkǒu Gongsi ) akronymisiert BAIC, the Chinese abbreviated Beiqi, is the parent company of the fifth largest vehicle and automotive producers in the People's Republic of China (as of January 2011). This is often referred to under the acronym Beijing Automotive Group.
Group structure and joint venture projects
Among the most important corporate subsidiaries of the Group include The Beijing State -owned Assets Management Company, a financial services provider, Beijing Automobile Works (short: BAW), a company for the production of buses, trucks and military vehicles with its own car brand, Beiqi Foton Motor Company, also in the Van and truck industry and operates its own car brand, further Beijing New Energy Automotive Company, a manufacturer of electric and hybrid cars, which was recently founded in November 2009, also with its own brand.
In addition, the Group is involved in numerous joint venture projects, mainly with the brands, Daimler -Benz and Hyundai. For this purpose, among others, the following joint venture companies were founded: Beijing Hyundai Motor Company (in short: BHMC ), will have been created on the base of Hyundai components in China new car models, continue to the Beijing Foton Daimler Automobile Company Limited, with their help in the truck sector, the development is to be pursued, and also the Beijing Benz automotive, is working with the on the automotive sector.
With the German automotive supplier Hella BAIC wants to specifically develop and produce tailor-made lighting systems on the Chinese market. A cooperation agreement was signed in 2012.
On February 1, 2013, BAIC and Daimler AG signed an agreement under which Daimler is at 12%, participate in BAIC Motor, the car division of BAIC. It is the first participation of a foreign car company to a Chinese manufacturer. It comes ahead of the planned IPO of BAIC Motor, and is performed by means of issuing new shares to Daimler during the year. Daimler will also receive two seats on the Board of Directors of BAIC Motor.