BMW and Mercedes-Benz to form a joint venture.

BMW, a multinational manufacturer of luxury vehicles and motorcycles, and Mercedes-Benz, a luxury and commercial vehicle automotive brand, agreed to form a joint venture. Financial terms were not disclosed. "Both BMW and Mercedes-Benz will apply the expertise gained from global and Chinese charging operations, as well as the in-depth understanding of the Chinese new energy vehicle market, to deliver fast, convenient, reliable, and tailor-made charging solutions for the Chinese market. The cooperation is intended to elevate customer public charging experience," BMW.