AutomotiveBusiness & FinanceTechnology
28 September 2023, 4:24 pm 1 minute
Reuters exclusively reported that Nio (9866.HK) has held exploratory talks with Mercedes-Benz (MBGn.DE) for a tie-up that would see the German automaker invest in the Chinese electric vehicle startup in exchange for technology.
Market Impact
Nio’s founder and chief executive William Li discussed the potential collaboration with Mercedes CEO Ola Kaellenius earlier this year, seeking an investment from the latter in exchange for loss-making Nio sharing its research and development capabilities with Mercedes, said the sources. The Nio-Mercedes talks align with a trend of closer collaboration between legacy automakers and new players as Chinese EV companies, lacking cash, seek to survive a consolidating domestic industry by trying to sell innovations to established automakers.
Article Tags
Topics of Interest: AutomotiveBusiness & FinanceTechnology
Type: Reuters Best
Sectors: Industrial Goods & ManufacturingTechnologyTransport & Logistics
Regions: Asia
Countries: China
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
