Daimler AG plans to increase its sourcing of automotive components from China by nearly eight-fold within four years as it expanded production to meet growing market demand.
The world's second-largest luxury car maker will buy 22 billion yuan (US$3.25 billion) worth of car components in China, up from the 2.8 billion yuan for this year, the company said in a recent statement.
The sourcing will also be shared by Daimler's domestic partner, Beijing Automotive Holdings Ltd, including its passenger car and commercial vehicle subsidiaries.
