BAIC Group: the group, its brands and who controls it
Facts checked
- State-owned (municipal)
- HKEX 1958
- SSE 600733
- SSE 600166
BAIC traces itself to 1958 and the state car works in Beijing. Its early landmark was Beijing Jeep Corporation, set up with American Motors in January 1984 - one of the first vehicle joint ventures in China. That company became Beijing Benz-DaimlerChrysler in 2004 and Beijing Benz Automotive in 2005, and it still builds Mercedes-Benz cars in the city.
BAIC Group is a municipal state-owned enterprise: the state's shareholding sits with the Beijing city government rather than with the central SASAC. It controls three listed companies - BAIC Motor in Hong Kong, BAIC BluePark and Foton Motor in Shanghai - and four brands of its own: Beijing for cars and off-roaders, Arcfox for premium electric models, Stelato with Huawei, and Foton for trucks, vans and buses.
Most of the group's revenue and profit has long come from its two car ventures, Beijing Benz and Beijing Hyundai. The relationship with Mercedes-Benz runs both ways: Mercedes-Benz Group holds 9.55% of BAIC Motor, while BAIC Group has held 9.98% of Mercedes-Benz Group since December 2021, making it that company's largest single shareholder.
BAIC's own profile puts annual revenue at CNY 480 billion and its Fortune Global 500 place at 201st in 2026, its fourteenth year on the list. The group delivered its 40 millionth vehicle in August 2026.
Key facts
| Chinese name | 北汽集团 “bay-CHEE jee-TWAN” Beijing Auto Group; 北汽 is the standard contraction of 北京汽车, 'Beijing Automobile' |
|---|---|
| Legal name | Beijing Automotive Group Co., Ltd. |
| Ownership | State-owned (municipal) |
| Founded | 1958 |
| Headquarters | Beijing, Beijing, China |
| Vehicles | Cars, Commercial vehicles, Buses and coaches and Components |
| Listings | HKEX 1958, SSE 600733 and SSE 600166 |
| Annual revenue (group, year not stated on the source page) | CNY 480 billion |
| Fortune Global 500 rank, 2026 | 201st, a fourteenth consecutive year on the list |
| Cumulative vehicles delivered | 40 million, reached in August 2026 |
| BAIC Motor (HKEX:1958) results, 2025 | revenue CNY 164.0 billion, net profit CNY 123 million |
| BAIC BluePark (SSE:600733) results, 2025 | revenue CNY 27.9 billion, net loss CNY 4.56 billion, 4,461 employees |
| Foton (SSE:600166) results, 2025 | revenue CNY 61.25 billion, net profit CNY 1.36 billion, 22,724 employees |
| Stake in Mercedes-Benz Group | 9.98%, raised from 5% in July 2019 to 9.98% in December 2021 |
Ownership tree
- BAIC Group (group)
- Arcfox (brand) Controlled; the share is not published
- Beijing (brand) Controlled; the share is not published
- Foton (brand) Controlled; the share is not published
- Stelato (brand) Controlled; the share is not published
Who controls BAIC Group?
Beijing Municipal State-owned Assets Supervision and Administration Commission owns BAIC Group at 100%.
BAIC Group is a municipal state-owned enterprise held by the Beijing city government rather than by the central SASAC. The date the present holding structure took its current form was not verified for this entry.
| Holder | What it is | Share | Since | What the source says |
|---|---|---|---|---|
| Mercedes-Benz Group AG | holds a stake in | 9.55% | not published | Mercedes-Benz Group holds 9.55% of BAIC Motor Corporation Limited, BAIC Group's Hong Kong listed passenger-car arm, a figure reported as at 31 December 2024. It is a holding in the listed subsidiary, not in BAIC Group itself. Mercedes-Benz Investment China separately holds 2.69% of BAIC BluePark. |
Stakes and ventures BAIC Group holds
These are holdings that are not outright ownership, so they are not in the tree above. A joint venture is a third company the two parents built together: the percentage is a share of that venture, never a holding in the partner.
| Holding | What it is | Share | Since | What the source says |
|---|---|---|---|---|
| Mercedes-Benz Group AG | runs a joint venture with | 51% of the joint venture | 8 August 2005 | Joint venture Beijing Benz Automotive Co., Ltd.: BAIC Motor 51%, Mercedes-Benz Group 38.665%, Mercedes-Benz China 10.335%. The business descends from Beijing Jeep Corporation, established in January 1984 and renamed Beijing Benz-DaimlerChrysler in 2004. The stake field records BAIC's share of the joint venture, not a holding in Mercedes-Benz Group AG. |
| Hyundai Motor Company | runs a joint venture with | 50% of the joint venture | 2002 | Joint venture Beijing Hyundai Motor Co., Ltd., a 50/50 company established in 2002. The stake field records BAIC's share of the joint venture, not a holding in Hyundai Motor Company. |
| Daimler Truck Holding AG | runs a joint venture with | 50% of the joint venture | February 2012 | Joint venture Beijing Foton Daimler Automotive Co., Ltd., a 50/50 medium and heavy truck company set up in February 2012 between BAIC's listed subsidiary Foton and the then Daimler AG, whose truck business became Daimler Truck in 2021. The stake field records the Foton side's share of the joint venture, not a holding in Daimler Truck Holding AG. |
| Mercedes-Benz Group AG | holds a stake in | 9.98% | July 2019 | BAIC Group, the Beijing municipal state-owned carmaker and Mercedes-Benz's Chinese joint-venture partner, first disclosed a 5% holding in July 2019 and has held 9.98% of the voting rights since. It is the largest single shareholder of Mercedes-Benz Group. Together with Li Shufu's 9.69% the two Chinese holdings come to 19.67%. |
| Lucid Group, Inc. | holds a stake in | not published | 2014 | BAIC bought 25% of Atieva, the company that later became Lucid Motors, in 2014. Saudi Arabia's Public Investment Fund has since become the majority owner, holding 58.42% as of December 2024, and BAIC's remaining share of Lucid Group is not disclosed. Lucid builds cars in Arizona and Saudi Arabia, not in China. |
Brands
| Brand | Held | Origin | Founded | Models | Markets |
|---|---|---|---|---|---|
| 极狐Arcfox | directly | China | 2017 | 1 | 1 |
| 北京汽车Beijing | directly | China | 2019 | 0 | 5 |
| 福田Foton | directly | China | 1996 | 0 | 6 |
| 享界Stelato | directly | China | 2023 | 1 | 1 |
Joint ventures
| Venture | Partner | Since | Note |
|---|---|---|---|
| Beijing Benz Automotive Co., Ltd. | Mercedes-Benz Group AG | 8 August 2005 | BAIC Motor 51%, Mercedes-Benz Group 38.665%, Mercedes-Benz China 10.335%. Builds Mercedes-Benz cars in Beijing. The business descends from Beijing Jeep Corporation, set up in January 1984 and renamed Beijing Benz-DaimlerChrysler in 2004. |
| Beijing Hyundai Motor Co., Ltd. | Hyundai Motor Company | 2002 | 50/50 with Hyundai Motor Company. |
| Beijing Foton Daimler Automotive Co., Ltd. (BFDA) | Daimler Truck Holding AG | February 2012 | 50/50 truck venture between BAIC's listed subsidiary Foton and the former Daimler AG, whose truck business is now Daimler Truck. |
| Fujian Benz Automotive Co., Ltd. | Mercedes-Benz Group AG | not published | Mercedes-Benz van venture that BAIC lists among its joint-venture brands alongside Fujian Motor Industry Group. BAIC's exact holding was not verified for this entry. |
BAIC Group: questions people ask
- Who owns BAIC?
- The Beijing city government, through its state-asset commission. BAIC Group is a municipal state-owned enterprise rather than one of the central SOEs held by the national SASAC.
- What does BAIC stand for?
- Beijing Automotive Industry Corporation, the older English name of the group. In Chinese it is 北汽 (Běiqì), a contraction of 北京汽车, 'Beijing Automobile'.
- Does BAIC own part of Mercedes-Benz?
- Yes. BAIC Group has held 9.98% of Mercedes-Benz Group since December 2021, which makes it the largest single shareholder. Mercedes-Benz Group in turn holds 9.55% of BAIC's listed arm, BAIC Motor.
- Which brands does BAIC own?
- Beijing (including the Beijing Off-road BJ models), Arcfox, Stelato and Foton. Mercedes-Benz and Hyundai cars built in Beijing come from joint ventures BAIC co-owns; those brands are not BAIC's.
- Is Stelato a Huawei brand?
- It is a joint creation. Huawei supplies the driver-assistance system, cockpit software, product definition and retail channel under its Harmony Intelligent Mobility Alliance; BAIC BluePark engineers and builds the cars at its Beijing plant.
Related
Sources for BAIC Group
- Beijing Automotive Group Co., Ltd., 集团简介 (Group profile). Read . BAIC's own profile: 1958 founding, revenue CNY 480 billion, Fortune Global 500 rank 201 in 2026, own and joint-venture brand lists, over 12,000 R&D staff
- BAIC Group, 北汽集团第4000万辆新车交付 (BAIC Group delivers its 40 millionth vehicle). Read . Dated 10 August 2026
- StockAnalysis, BAIC Motor Corporation Limited (HKEX: 1958) financials. Read . FY2025 revenue and net income
- StockAnalysis, BAIC BluePark New Energy Technology Co., Ltd. (SSE: 600733). Read . FY2025 revenue, net loss and employee count
- StockAnalysis, Beiqi Foton Motor Co., Ltd. (SSE: 600166). Read . FY2025 revenue, net income and employee count
- Wikipedia, BAIC Group. Read . Founding year, headquarters address, Beijing municipal ownership, stake in Mercedes-Benz Group and its dates, subsidiary stakes
- Wikipedia, Beijing Benz. Read . Beijing Jeep 1984 lineage, 2005 establishment, shareholding split
- Wikipedia, BAIC Motor. Read . Hong Kong listing December 2014, shareholder list including Mercedes-Benz Group 9.55%, Beijing Hyundai 2002