Deals
Daimler Buys Beijing Auto Stake as China Revamp Accelerates
This article is for subscribers only.
Mercedes-Benz announced a sweeping overhaul of operations in China last December as its sales in the world’s largest auto market sputtered out. A year later, the carmaker’s deliveries in the country are once again on the rise and propelling global growth that’s outstripping rivals.
The reorganization has included naming a new China chief who sits on the management board, adding dozens of dealerships, opening an engine factory in the country and merging competing sales organizations.