12/7/2020, 9:03 PM (Source: TeleTrader)
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Chart for: DAIMLER AG NA O.N.

Daimler to start production of new EVs in China

Daimler Chief Executive Ola Kaellenius revealed in an interview with Xinhua the carmaker plans to start producing several new electric and hybrid models in China over the next three years to meet increasing market demand.

"We have made a clear strategic decision for Daimler and for Mercedes-Benz that the future of premium luxury mobility will be CO2-neutral. We are on this path towards emission-free driving, and China as our biggest market will play a big role in this," Kaellenius explained.

Daimler's joint venture with China's BAIC Group sold about 700,000 cars in the Asian country during 2019. In comparison, the German carmaker sold between 360,000 and 370,000 vehicles on its domestic market over the same period.

Breaking the News / ND