(Yicai Global) Oct. 21 -- Daimler’s CNY1.1 billion (USD172 million) research and development technology center in Beijing opened for business today. The center will strengthen the German auto giant’s technological and innovation capabilities in the world’s largest auto market, Xinhua News reported.

Covering 55,000 square meters, the new R&D center employs around 1,000 engineers and serves both as a research and testing base.

The new center, which is located close to Daimler’s Mercedes-Benz plant in the capital, is ready in time for the 20th anniversary of Daimler in China.

“Over the years we have continuously expanded our presence in the local market, including in R&D, manufacturing and procurement," said board member Hubertus Troska.

"The new R&D tech center will help the company focus on the needs of Chinese customers and accelerate the localization of new models, including electric vehicles," he added.

Daimler is pushing forward with a strong electrification strategy and plans to fully electrify all Mercedes-Benz models by 2030 with an investment of over EUR40 billion (USD46.6 billion).

China is Mercedez-Benz’s largest market. In the first three quarters the Stuttgart-based marque sold 592,203 units in the country, making up over a third of its worldwide sales.

Editor: Kim Taylor