Beijing Auto out to acquire 'mid to high-end' US or Euro brand
We last reported on Beijing Automotive, better known as BAIC, back in November, when we told you that Daimler was set to acquire a 12-percent stake in the state-owned manufacturer (you can see chairman Xu Heyi with Daimler bigwig Dieter Zetsche above). Now, BAIC is looking to make moves again, considering targets for a potential takeover bid.
Dong Haiyang, BAIC's head of international expansion, said the company has "candidates" in mind. We previously reported on the company's European prospects, but BAIC is now considering American companies for the first time. According to Reuters, the BAIC rep told a media briefing that snagging a foreign brand would serve as a shortcut to introducing BAIC in outside markets.
As for what brands are being considered, Dong would only say that "mid to-high-end [brands]" were targeted. That doesn't mean there aren't a suitable number of organizations ripe for takeover by an ambitious, Chinese upstart. That's where you come in. What "mid to high-end" manufacturer could a reasonably well-off Chinese outfit acquire? Let us know what you think in Comments.
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