In May 2020, BAIC Group sold its stake of BAW to Qingdao Fulu Investment Holding Group, a private company specializes in producing low-speed electric vehicle.
The headquarters of BAW was moved from Beijing to Qingdao, Shandong.
[3][4] In April 2023, BAW was acquired by Shandong Weiqiao Pioneering Group, a private company active in the textiles and aluminium industry.
[5] In June 2024, BAIC Group issued a clarification statement.
The statement mentioned that Beijing Automobile Works Co., Ltd. and BAIC Group have no equity or property rights relationships.