Daimler, BAIC Investing $735 Million Into Chinese EV Production Pretty Much Out of Necessity

Daimler AG is dumping half of a 5 billion yuan sum, or 735 million dollars, into China as part of a joint venture with BAIC Motor Corp. Together, the companies plan to establish the groundwork for competent EV production in the region — meaning a good ol' fashioned battery factory. The bill is split between the two […] The post Daimler, BAIC Investing $735 Million Into Chinese EV Production Pretty Much Out of Necessity appeared first on The Truth About Cars. from The Truth About Cars http://ift.tt/Jh8LjA