AKKA sets up joint venture with BAIC for the development of passenger vehicles in China

Press releases — March 12 2015

The engineering company AKKA is creating a joint venture between its German automotive competence centers MBtech in Sindelfingen, and BAIC Motor, a subsidiary of the Chinese automobile manufacturer Beijing Automotive Industry Holding Co. (BAIC).

Representatives from both parties met today in Beijing in the presence of representatives of the Chinese government and the German and French embassies to sign the first R&D Joint Venture between an OEM and an engineering service provider in the world.

With more than 100 000 employees, the Beijing Automotive Industry Holding (BAIC), also known as Beijing Automotive Group, is the holding company of the fifth largest automotive and automobile producer in the People’s Republic of China. The newly created joint venture between BAIC’s subsidiary BAIC Motor Corporation Ltd. in Beijing and AKKA will engage in research and development of full passenger vehicles for the Chinese market as well as the parts and components, automotive technology research and application. BAIC Motor ambitions a vehicle program with a minimum of 2 new vehicle projects per year.

‘’ Thanks to its excellent skills and its significant presence in the German Automotive market, the AKKA Group developed strong links with BAIC based on trust and respect », stated Maurice Ricci, Chairman of the Board and CEO of AKKA. « In order to comply with our international strategy, we have been on the Chinese market for several years with more than 100 employees in Shanghai and Beijing. This new international collaboration confirms our strategy of development on the global market and our capacity to serve our customers worldwide. The long-term cooperation with BAIC signed today proves that we are considered as a reliable partner for significant international projects. ‘’

Mauro RICCI

Chairman and group CEO