Mercedes Benz News
New Mercedes models will have both electric and ICE-based versions, with “EQ Technology” used as a label for EVs and “EQ Hybrid Technology” for plug-in hybrids.
CEO Ola Kallenius portrayed the pool with Geely as a temporary solution ahead of a number of key EV launches, including the new CLA compact model and the GLC midsize SUV.
Mercedes, in a strategic shift, will launch more gasoline and diesel vehicles than electric cars to match consumer demand and drive profit margins.
With potential trade wars brewing, Mercedes plans to localize more production in the U.S. and China. It is likely to add another model to its factory in Tuscaloosa, Alabama.
Mercedes launched a fresh cost-cutting plan to revive sales and margins as the company forecast a drop in earnings in 2025.
TikTok is going after more auto brands and car dealerships with a new performance ad format that displays more product details and links to shop. On Wednesday, TikTok announced it would roll out Automative Ads to all brands, after testing the format with carmakers and dealers, including Mercedes-Benz and Peugeot.
A 2022 plan to move upmarket has fallen well short of targets. China, EVs and cost cuts will be on the menu Feb. 20 at Mercedes' capital markets day.
The expense reduction effort in the U.S., detailed at a town hall meeting, affects all business areas.
An extra tariff went into effect on Monday against goods including vehicles with engines larger than 2.5 liters, according to Chinese state broadcaster CCTV, bringing the total impost to 25 percent.
Car-leasing businesses are facing challenges as they add more EVs which makes it harder to predict residual values.