Daimler

China is the world's most important market for the automotive industry. Daimler and China have had close economic ties for years. Read all the important and current news about Daimler from the Table.editorial team. What is Daimler doing in China? The car manufacturer Daimler sees China as its largest and most important sales market. A study by the Center Automotive Research shows that Daimler recorded a 30.6% increase in new car sales in China in 2020. During the coronavirus pandemic, the Chinese market was the lifeline for the German automotive industry. Thanks to the rapid recovery of the Chinese economy, sales by German car manufacturers such as Daimler have stabilized and are on the rise again. Every third Daimler model currently goes to the People's Republic. How much influence does China have on Daimler? At the end of 2021, the state-owned Beijing Automotive Group (BAIC) bought 9.98% of the shares in Daimler AG. This means that two Chinese companies own 20% of the shares in Daimler AG. The other company is the privately owned car manufacturer Geely, which owns 9.69% of the shares in Daimler. The companies thus want to secure a seat on the supervisory board of the German car manufacturer. Daimler denied the speculation about a possible Chinese takeover and emphasized that Daimler would instead benefit from the cooperation with BAIC. What links Daimler with Farasis? The future lies in electromobility. That is why Daimler is increasingly focusing on the construction of electric cars. The central element of every electric car is the battery, which the German car manufacturer produces itself. Daimler receives the battery cells required for this from the Chinese battery manufacturer Farasis. Farasis sees Germany as a central location for its European strategy and is planning to build a plant in Bitterfeld. In the summer of 2021, there were rumors of disputes between Daimler and Farasis, as Daimler announced that it would build its own factories for the production of battery cells. Nevertheless, Farasis remains a strategic partner for access to the Chinese market.