BAIC plans acquisitions in country, abroad

BAIC Group, the Chinese partner of Daimler AG and Hyundai Motor Co, plans to acquire one or two domestic automakers this year, according to the company's senior management.

Xu Heyi, chairman of BAIC, said in a press conference in June that BAIC will make at least one major acquisition in the second half of this year.

"If things go well, it is possible to ink two deals before the end of the year," Xu said, indicating that BAIC is eyeing on some State-owned companies.