Mercedes Acquires Stake in $8.35 Billion Chinese Autonomous Driving Firm Qianli

Mercedes-Benz Investment in China: Mercedes-Benz Group AG plans to acquire a stake in Chongqing Qianli Tech, a Chinese company specializing in self-driving car technology, to enhance its software capabilities for vehicles sold in China. The deal, valued at approximately $8.35 billion, is expected to be announced soon.

Geely and Mercedes Collaboration: The partnership between Geely Holding Group and Mercedes is strengthening, with Geely integrating its self-driving division into Qianli. Both companies are also exploring collaboration on traditional gas engines, reflecting a shift in German car manufacturers' strategies to better compete with local Chinese automakers.

Volvo's U.S. Manufacturing Plans: Volvo Cars is set to produce a new hybrid vehicle in the U.S. by 2030, adapting to tariffs imposed by the Trump administration on foreign cars. This move aims to optimize production at its South Carolina factory, which currently has underutilized capacity.

Impact of U.S. Tariffs on Global Car Manufacturing: Car manufacturers worldwide are reevaluating their production locations due to increased costs from U.S. tariffs, with Volvo committing to increase its American manufacturing output as part of a broader strategy to support domestic manufacturing growth.