Mercedes CEO speaks against restrictions on trade with China
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Ola Kaellenius, CEO of Mercedes-Benz Group AG, poses for a picture at "Factory 56", one of the world's most modern electric and conventional car assembly halls of German carmaker Mercedes-Benz, in Sindelfingen near Stuttgart, Germany, March 4, 2024. REUTE
BERLIN (Reuters) - Mercedes-Benz Chief Executive Ola Kaellenius on Wednesday spoke against imposing restrictions on trade with China, stressing that the country remains the group's most important market.
"We are closely monitoring potential trade policy measures against China and their impact on supply chains and sales markets," he said at an annual shareholders meeting.
The European Commission, which oversees trade policy in the 27-nation European Union, launched an investigation in October into whether fully-electric cars manufactured in China were receiving distortive subsidies and warrant extra tariffs.
Finance chief Harald Wilhelm also did not rule out a sale of Mercedes' 30% stake in truck manufacturer Daimler Truck after the end of the lock-up period, which expires at the end of this year.
(Reporting by Andrey Sychev and Ilona Wissenbach; Editing by Miranda Murray)
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