Looking to expand its global presence beyond its native China, Beijing Automotive Group announced they would like to acquire a "mid to high-level brand" in either Europe or the United States, and already has a list of potential brands in mind.
Reuters reports BAIC originally looked towards Europe for their potential acquisition, but has now expanded their search to the U.S. President Dong Haiyang told reporters that his company's brand is little-known outside of China, and sees a European or American brand as a shortcut into the global marketplace.
At home, BAIC purchased two smaller rivals in 2013, and signed a joint investment agreement with Daimler AG last month, delivering $5.51 billion into their joint venture in order to double production by 2015.
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