financetom
Business
financetom
/
Business
/
Mercedes says it will continue to invest in China tie-ups
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Mercedes says it will continue to invest in China tie-ups
Apr 25, 2024 12:08 AM

BEIJING, April 25 (Reuters) - Mercedes Benz's

China chief said on Thursday the company would continue to

invest in tie-ups with Chinese partners like internet firm Baidu ( BIDU )

, noting China was crucial to its global strategy.

China was "the most dynamic new energy vehicle market",

Hubertus Troska said at a press conference on the opening day of

the Beijing autoshow that was also attended by Baidu ( BIDU ) CEO Robin

Li.

Mercedes sales chief, Duan Jianjun, told the same event that

they had brought a number of electric models to the show and

that the German automaker hoped this would put to rest "rumours"

that the company had given up on electrification.

The executives also said Mercedes would launch the electric

G-class in China this year.

In February, Mercedes pushed back some of its sales goals

for electrified vehicles by five years and assured investors it

would keep sprucing up its combustion-engine models.

It is among foreign automakers scrambling to reset their

strategies in the world's auto market as local rivals

aggressively roll out new mass-market and luxury EVs at a fast

pace. In the first quarter, Mercedes' first-quarter sales in

China fell 12%.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Gilead's HIV Pipeline Gains Traction With Upcoming FDA Decision For HIV-1 Drug
Gilead's HIV Pipeline Gains Traction With Upcoming FDA Decision For HIV-1 Drug
Jun 5, 2025
In February, the U.S. Food and Drug Administration (FDA) accepted Gilead Sciences, Inc.’s New Drug Application (NDA) submissions for lenacapavir — the company’s twice-yearly injectable HIV-1 capsid inhibitor — for the prevention of HIV as pre-exposure prophylaxis (PrEP). What Happened: The FDA will review the applications under priority review and has assigned a Prescription Drug User Fee Act (PDUFA) target...
--Tesla Shares Drop 7.8% After Trump Says He's 'Disappointed' by Musk's Opposition to Tax Bill
--Tesla Shares Drop 7.8% After Trump Says He's 'Disappointed' by Musk's Opposition to Tax Bill
Jun 5, 2025
01:09 PM EDT, 06/05/2025 (MT Newswires) -- Price: 306.02, Change: -26.03, Percent Change: -7.84 ...
Lorne Park Capital Partners to be Acquired by Sagard at $2.23 Per Share, Shares Jump 36%
Lorne Park Capital Partners to be Acquired by Sagard at $2.23 Per Share, Shares Jump 36%
Jun 5, 2025
01:11 PM EDT, 06/05/2025 (MT Newswires) -- Lorne Park Capital Partners (LPC.V), up 36% on last look, on Thursday said it is being acquired by Sagard Private Equity Canada (SPEC) at $2.23 per share, valuing the company at $126.8 million. SPEC intends to take the company private. Robert Sewell and the rest of Lorne Park's management team will continue to...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved