Beijing Automotive Group

Beijing Automotive Industry Holding ; Beijing Automotive Group
legal form	Co. Ltd.
founding	1994
Seat	Beijing , People's Republic of China
management	Xu Heyi ( Chairman of the Board )
Number of employees	127,000
sales	480.7 billion renminbi (2018); (around 62 billion euros )
Branch	Vehicle construction , automobiles
Website	www.baicmotor.com
	Status: 2019

The Beijing Automotive Group , formerly Beijing Automotive Industry Holding , or BAIC Group for short , is a company from the People's Republic of China . According to a source, in January 2011 it was the holding company of the fifth largest vehicle and automobile manufacturer in China.

Group structure and joint venture projects

The Beijing Automotive Industry Holding was in on 30 June 1994 Beijing established. On September 28, 2010, the name was changed to Beijing Automotive Group . The Group's most important subsidiaries include The Beijing State-owned Assets Management Company, a financial services provider, Beijing Automobile Works (BAW for short), a company that produces buses, trucks and military vehicles with its own automobile brand, Beijing Motor Corporation as a car manufacturer, Beiqi Foton Motor Company, also active in the van and commercial vehicle industry and with its own brand of car, also Beijing New Energy Automotive Company, a manufacturer of electric and hybrid cars, which was founded in November 2009, also with its own brand. Other sources cite Beijing Electric Vehicle for electric cars, established in October 2009.

The group is also involved in numerous joint venture projects, mainly with the manufacturers Daimler AG and Hyundai . For this purpose, the following joint venture companies were founded: Beijing Hyundai Motor Company , with which new car models are to be created in China on the basis of Hyundai components, and Beijing Foton Daimler Automotive Company Limited, with whose help in the truck Sector that is to be driven forward, as well as Beijing Benz Automotive , with which the automotive sector is working together.

Together with the German automotive supplier Hella , BAIC wants to develop and produce lighting systems specially tailored to the Chinese market. A corresponding cooperation agreement was signed in 2012.

On February 1, 2013, BAIC and Daimler AG signed an agreement according to which Daimler will acquire a 12% stake in BAIC Motor, BAIC's passenger car division. It is the first participation of a foreign automobile company in a Chinese manufacturer. It takes place in the run-up to the initial public offering planned by BAIC Motor and will be carried out by issuing new shares to Daimler during the course of the year. Daimler also receives two seats on the supervisory board of BAIC Motor.

On July 23, 2019, BAIC announced that it had acquired a consolidated stake of 5% in the share capital of Daimler AG through direct participation and further purchase rights. The long-term cooperation between the two manufacturers is to be underpinned by the participation. As a result, BAIC became the third largest single investor at Daimler, behind its Chinese competitor Geely and the investment holding company of the state of Kuwait . Daimler's stake in the BAIC subsidiary BAIC Motor at that time was 9.55 percent of the shares. Since 2018, Daimler has also held a 3.01 percent stake in BAIC BluePark New Energy Technology Co. Ltd. , an electric vehicle manufacturer for China.

In South Africa there since 2010. Beijing Automobile Works South Africa .