
By Kate Yuan
(JW Insights) Mar 16 -- Beijing Benz Automotive Co. (BBAC北京奔驰) - a joint venture with Germany - achieved revenue of 24.82 billion euros ($26.5 billion) in 2022, higher than the 21.288 billion euros ($22.729 billion) last year, announced its Chinese partner BAIC Motor (北京汽车) on March 14.
The profit from continuing operations after tax was 3.649 billion euros ($3.896 billion), higher than the 3.205 billion euros ($3.422 billion) last year.
BBAC was founded in August 2005 with investment from BAIC Motor holding a 51% stake and the remaining 49% by Mercedes-Benz Group AG and its subsidiary Daimler Greater China.
BBAC produces Mercedes-Benz front-wheel drive, Mercedes-Benz rear-wheel drive, and Mercedes-Benz EV, in addition to engines and batteries for Mercedes-Benz vehicles. It exports the core engine parts and completed engines, and has become an integral part of Mercedes-Benz global manufacturing network.
With its strong production base, BBAC has introduced ten main Mercedes-Benz models to China: all-new EQA, all-new EQB, EQC electric SUV, AMG A 35 L, A-Class L, all-new C-Class L, E-Class L, GLC SUV L, GLB SUV and GLA SUV, according to its official website.
BAIC Motor is also a 35% equity owner in another joint venture with Mercedes-Benz in southeastern China’s Fujian Province with local car manufacturer, called Fujian Benz.
RELATED
READ MOST
-
ijiweiTalk Ep 244: China Cracked Quantum Encryption? END GAME of password!
1.2w03-14 13:56 -
China’s national semiconductor Big Fund injects $1.87 billion into the country’s top memory chipmaker YMTC with a stake in it
874503-02 21:33 -
ijiweiTalk Ep 239: Metaverse's huge business loss, where did the money go?
808102-27 11:16 -
China’s top international trade organization CCPIT: US' abuse of export control measures will seriously hinder the advance of chip industries in both China and the world
785502-23 17:28 -
JW Insights: China’s booming display panel industry prompts upstream polarizer companies to expand production and seek M&As
764402-23 18:31