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Carmaker BAIC has become the second major Chinese investor in Daimler, bringing its electric mobility know-how to the German firm, Florian Gehm reports for Die Welt. BAIC sold nearly 165,000 e-cars in 2018, making it the world鈥檚 third biggest producer. It has acquired a 5 percent stake in Daimler. Chinese businessman Li Shufu, head of carmaker Geely, acquired nearly 10 percent of the German company last year. Daimler鈥檚 new CEO Ola K盲llenius said 鈥渨e welcome very much that BAIC, a partner for many years, now also has become a long-term oriented investor.鈥�

Like all German carmakers, Daimler faces the challenging shift to e-mobility and digitalised mobility services. In March, Daimler announced that its Smart brand would become pure electric, with production in China, the world鈥檚 largest car market. The company a one-off related loss for the second quarter, vowing to cut cost.