ChinaVirtuoso

German car maker Daimler announced that they would cooperate with their Chinese partner Beijing Automotive Group to establish an electric car battery plant in China.

With an investment scale of EUR655 million, which is about USD740 million, this plant will not only make electric car batteries, but also will produce Mercedes-Benz battery-powered cars.

Hubertus Troska, board member of Daimler, said in a statement that by 2025, China would account for a large share of electric car sales of Mercedes-Benz. Therefore, localized manufacturing would be the key to the success of their electric car portfolio.

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