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German automaker Daimler AG stated on Wednesday it prepares to invest 1.1 billion yuan ($158.23 million) in a second research and development center located in Beijing to help speed up localization of Mercedes-Benz vehicle models in the country.
Daimler stated the new tech center will be located close to Daimler’s engine and vehicle assembly hub in China’s capital and is anticipated to start operations in 2020.
China, the world’s biggest auto market, is Daimler’s single largest market worldwide. The company’s current tech center in Beijing was established in 2014.
“We remain positive for additional growth opportunities in China… and will continue with our investment here,” stated Hubertus Troska, Daimler’s chief for greater China operations.
