Mercedes doesn't fear China but working to bring down costs, CTO says

MUNICH (Reuters) -Mercedes-Benz does not need to fear Chinese competition with electric vehicles but the German carmaker is working to reduce costs amid a price battle there, chief technology officer Markus Schaefer said in Munich on Monday.

"We have worked our way to the top in the area of electromobility, so we don't need to be afraid of China," Schaefer said after the launch of Mercedes' electic GLC SUV at the IAA motor show.

Mercedes is working hard with its Chinese development team to improve costs, he added.

(Reporting by Rachel More)