China’s BAIC Motor flags loss as Mercedes-Benz joint venture skids

German luxury marque says first-half China sales fell 28%, books impairment charge Employees work at a factory of Beijing Benz Automotive Co. (BBAC), a joint venture between BAIC Motor and Mercedes-Benz, in the Chinese capital in 2022. © Reuters TOKYO — BAIC Motor, a Chinese joint venture partner of Mercedes-Benz, expects to book a net loss of up to 1.65 billion yuan ($244 million) for the first six months of the year, as price war pressure builds even at the higher end of the market.

Read the full article at the source →