Mercedes-Benz partners with Geely to build smart brand cars in China's Xian: Senior Official
Mercedes-Benz
Mercedes-Benzwillbuildsmart-branded electriccarswith ZhejiangGeelyHolding Group in the Chinese city of Xian from a base with an annual capacity of around 150,000 vehicles, aseniorofficial from its German parent Daimler AG said on Saturday.
Daimler'sExecutiveVice President in China Leng Yan made the comments to reporters on the sidelines ofChina'sEV100 forum in Beijing, an annual event whereseniorauto industryexecutives meet to discuss policies and the market.
GeelyandMercedes-Benzsaid on Wednesday they would each invest 2.7 billion yuan ($388.8 million) in a China-based venture tobuild"premium and intelligent electrified" vehicles under theSmartbrand.
LikeMercedes-Benz,Smartis a Daimler marque. The firms said at the time that the venture, which will be based in the eastern Chinese city of Ningbo, will have manufacturing capacity in China and sales operations in China and Germany.
Geely, which holds a 9.7 per centstake in Stuttgart-based Daimler, isbuilding car plants in Xian, according to construction bidding documents on its website. Daimler, which partners with BAIC Group to make luxuryMercedes-Benzcarsin Beijing, alsobuilds trucks with BAIC's unit Beiqi Foton Motor.
Smartdelivered about 116,800 vehicles worldwide in 2019, Daimler said in a January9 statement.
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