German companies signed a raft of agreements with Chinese partners at a meeting of Chinese Prime Minister Li Keqiang and German Chancellor Angela Merkel in Berlin on Monday, according to a document seen by Reuters.
Following are details of contracts signed:BASF
BASF signed a Memorandum of Understanding (MoU) with China`s Guangdong Province to look at building a highly-integrated "Verbund" chemical production site there, BASF said.
The site would be BASF`s largest investment and would be operated under its sole responsibility, it said. The investment is estimated to reach up to $10 billion by completion of the project around 2030, it added.BMW
BMW and its joint venture partner Brilliance Automotive Group Holdings have agreed to expand production capacity at BMW Brilliance Automotive`s (BBA) two sites in China to a total 520,000 BMW brand vehicles in 2019, BMW said.
In addition, it said the two companies had agreed that the all-electric BMW iX3, to be produced by BBA from 2020, would be exported from China to other markets.DAIMLER
Daimler and Tsinghua University have signed an agreement to extend their cooperation on sustainable transportation research in China by three years, Daimler said.
With an annual multi-million renminbi investment, the Tsinghua Daimler Joint Research Center for Sustainable Transportation will sharpen its research efforts in the fields of automated driving and intelligent mobility, it said.SIEMENS
Siemens and Alibaba Cloud, the cloud computing arm of Alibaba Group, signed an MoU to partner to foster the industrial Internet of Things (IoT) in China, Siemens said.
Under the MoU, both companies will begin collaborating immediately and intend to make the MindSphere platform on Alibaba Cloud available in 2019, it said.
Separately, Siemens said it had signed an MoU with State Power Investment Corporation (SPIC) of China to further confirm their intention to collaborate in the field of heavy-duty gas turbines.
It said the signing on Monday would expedite finalisation of the technology cooperation in the near future.
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