BAIC, Daimler to build $1.9b Mercedes Benz plant in China

BAIC, Daimler to build $1.9b Mercedes Benz plant in China

A newly assembled red Mercedes-Benz AG AMG GT luxury automobile stands on the factory floor at the automaker's plant in Sindelfingen, Germany, on Monday, Jan. 18, 2017. Photographer: Krisztian Bocsi/Bloomberg

BAIC Motor Corp. and Daimler AG plan to build a new factory in China for Mercedes-Benz vehicles to meet growing demand as the German automaker deepens its ties with the country.

The automakers will co-invest more than 11.9 billion yuan ($1.9 billion) to build the facility, BAIC said Sunday in a brief filing to the Hong Kong stock exchange. The statement didn’t disclose the location of the production base.

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