Daimler Signs US$2.87 billion Deal with BAIC

The picture may seem familiar: Chinese and German businesspersons on the same table signing some papers, while German Chancellor Dr. Angela Merkel, and Chinese Prime Minister Wen Jiabao, standing behind them with their country flags are floating in the background.

Only this time the Germans are Daimler’s executives, not Volkswagen’s, and the other signatory is BAIC (Beijing Automotive Industry Corporation).

Read more »