FRANKFURT -- Daimler and its Chinese joint-venture partner BAIC Motor Corp. have agreed to jointly invest 5 billion yuan ($735 million) in electric-vehicle production in China by 2020 and to provide the infrastructure needed. Of that investment, a three-digit million-euro sum is to be invested in a new battery factory to be built in China by the joint venture, Beijing Benz Automotive Co., Daimler said in a statement on Wednesday. "By 2025, the Chinese market will have a subst

BERLIN/FRANKFURT - Daimler and its Chinese joint venture partner BAIC Motor Corporation agreed to upgrade the Mercedes-Benz factory in Beijing to make electric cars, the German carmaker said on Thursday. At a signing ceremony in Berlin attended by German Chancellor Angela Merkel and Chinese Premier Li Keqiang, Daimler signed a framework agreement to upgrade production facilities at Beijing Benz Automotive Co., Ltd. (BBAC), to make New Energy Vehicles, a label for so-called lo