DMLRY Mercedes Benz Group AG (PK)

   By Max Bernhard 
 

Daimler AG (DAI.XE) said Wednesday that it plans to invest into a new research-and-development center in China as part of its localization strategy.

The German car maker said it plans to invest about 145 million euros into the new facility, which is expected to start operation in 2020 and will be located on the premises of Beijing Benz Automotive Co, its joint venture with China's BAIC Motor Corp (1958.HK).

The new R&D center will feature test labs and workshops for testing new-energy vehicle technology, powertrain and chassis, emissions and in-vehicle air quality, it said.

Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard

(END) Dow Jones Newswires

November 14, 2018 03:59 ET (08:59 GMT)

Mercedes Benz (PK) (USOTC:DMLRY)
Historical Stock Chart
From Mar 2024 to Apr 2024

Mercedes Benz (PK) (USOTC:DMLRY)
Historical Stock Chart
From Apr 2023 to Apr 2024