A state-owned holding company that unites several automobile and mechanical engineering enterprises. Headquartered in Beijing. The main subsidiaries of BAIC Group are: BAIC Motor (passenger cars), BAW (military and SUV vehicles), Foton Motor (trucks, buses, agricultural machinery), Changhe (minibuses and SUVs). Joint ventures Beijing Hyundai and Beijing Benz produce Hyundai and Mercedes cars for the Chinese market, respectively. BAIC Group is one of the ten largest automobile manufacturers in China and the second largest manufacturer of commercial vehicles. BAIC Group’s main export markets are Russia, South Africa, Vietnam, Egypt, Mexico, Brazil, Colombia, Bangladesh, India, the Philippines, Indonesia, Mongolia and Italy.