Beijing, 2014-Apr-20

Siemens AG, a global player in the field of electric drivetrains and Beijing Automotive Industry Holding Co., Ltd. (BAIC), one of the major Chinese carmakers, will join efforts to bring further green automotive drive-technologies to the China market. The two companies signed a joint venture at the 2014 Beijing International Automotive Exhibition and outlined their plan to utilize Siemens' electric drive train components in a range of BAIC vehicles.

"This cooperation will further strengthen our leading position in high efficient drive technologies," said Siegfried Russwurm, member of the Managing Board of Siemens AG and CEO of Siemens Industry Sector, adding that this joint venture brings two strong brands together. "BAIC is a major player in one of the fastest growing markets for e-Mobility. Siemens is a global innovative pioneer for electric power train solutions. We will pave the way for a higher share of e-Mobility on tomorrow's roads."

Mr. Xu Heyi, Chairman of BAIC said, "This in-depth cooperation between BAIC and Siemens regarding EV motors is a big move for BAIC. We will develop NEVs via integrated global resources and continuous open and integrated innovation. This cooperation will bring the technology of BAIC's NEV products to the next level. With world-leading motors as the core component, BAIC's NEV cars, with the strength this partnership adds, will be distinguished even further during this important start-up phase for NEVs in China."

Through EV technology and manufacturing, Beijing Siemens Automotive E-Drive System Co., Ltd. will contribute to Chinese government's initiative in establishing higher environmental standards by pushing New Energy Vehicle (NEV) technologies. As the first customer of the new Siemens-BAIC joint venture, BAIC plans to utilize the electric power train products for its S, C and L car series. The performance scale of these models ranges from 45 to 200 kW.

This press release and this press picture (shortly after the event also a picture of the signing act at the Beijing International Automotive Exhibition) are available at www.siemens.com/press/pi/I2014042005e

Follow us in Social Media:
Twitter: www.twitter.com/siemens_press and www.twitter.com/SiemensIndustry
Blog: www.siemens.com/industry-blog

Reference Number: I2014042005e