Mercedes-Benz Group China Ltd. (OTC:MBGAF) and BMW Brilliance Automotive Ltd. (OTC:BMWYY) have publicized their intentions to set up a 50:50 joint venture in China. The primary objective of this collaboration is to manage a high-speed charging network and deliver superior charging services to their customers.
What Happened: As stated in the official press release, both companies expressed their plans to utilize their global and local expertise, as well as their understanding of the Chinese new energy vehicle (NEV) market to offer fast, reliable, and personalized charging solutions. This joint venture aims to improve the public charging experience for customers.
Over the next half-decade, the partnership aims to build at least 1,000 high-power charging stations that will include approximately 7,000 high-power ...