Daimler AG denies intention to interfere in Hyundai Motor
Seoul - Arab Today
Daimler AG has no intention to interfere with Hyundai Motor's joint venture with Beijing Automotive Group (BAIC Group), a top company official said Wednesday, following news of the German carmaker buying a stake in the Chinese company's passenger car unit Dieter Zetsche, chairman of the Board of Management of Daimler AG, said his company's recent deal to buy a 12 percent stake in BAIC Motor, the passenger car unit of BAIC Group, is meant to support BAIC Motor's plan to launch its initial public offering and forge a close strategic partner with the Chinese partner.
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