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Mercedes doesn't fear China but working to bring down costs, CTO says
Published by Global Banking & Finance Review®
Posted on September 8, 2025
1 min readLast updated: January 22, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on September 8, 2025
1 min readLast updated: January 22, 2026
Mercedes-Benz is confident in its EV market position against China, focusing on cost reduction strategies with its Chinese team, says CTO Markus Schaefer.
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)
Electromobility refers to the use of electric vehicles and the infrastructure that supports them, including charging stations and battery technology.
Electric vehicles (EVs) are automobiles that are powered entirely or partially by electricity, using batteries or fuel cells instead of traditional fuel.
Cost reduction is the process of identifying and implementing ways to reduce expenses in order to improve profitability and efficiency.
A chief technology officer (CTO) is an executive responsible for overseeing the development and correct application of technology within an organization.
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