Date
16 October 2017

Mercedes-Benz aims to lift China business, WSJ says

Mercedes-Benz is set to launch 13 new or refurbished models in the next two years, including a sedan and a compact SUV, as the company seeks to attract younger consumers in China, the Wall Street Journal reported Sunday. A capital-raising plan of the German brand’s China partner, BAIC Motor, may also help Mercedes gain traction in the country, the paper said. BAIC, which could raise about US$2 billion in a Hong Kong share sale this year, will use the IPO proceeds to shore up its balance sheet. That may help the firm put more money into the Daimler joint venture, localizing more production to bring down costs and boost Mercedes’s China margins, the report said.

– Contact HKEJ at [email protected]

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