A top executive from Mercedes-Benz, a leading automotive manufacturer, reiterated the company’s commitment to investing in collaboration with Chinese partners during an event held today (April 25). The executive emphasized the significance of China in the company’s global strategy and highlighted ongoing partnerships with key Chinese entities such as Baidu, a major technology firm.
Speaking at the event, the Head of Sales at Mercedes underscored the company’s dedication to electric vehicle (EV) development. Mercedes showcased a range of EV models, aiming to dispel any speculation suggesting a departure from EV initiatives. Furthermore, the brand announced plans to introduce the G-class electric car in China later this year.
In February, Mercedes postponed its sales targets for partially electric vehicles, extending the timeline by five years. The company reassured investors of its continued commitment to developing combustion engine models alongside electric offerings.
Mercedes-Benz is among several companies reevaluating their strategies in response to evolving dynamics within the global auto market. Intensifying competition, particularly in China, where rivals are swiftly launching EVs across various market segments, has prompted strategic recalibrations. Despite challenges, Mercedes remains focused on enhancing its position in China’s automotive landscape.
The first quarter of 2024 saw a 12% decline in Mercedes’ sales in China, reflecting ongoing efforts to adapt to market dynamics while reaffirming its commitment to long-term growth and innovation.