[HIGHLIGHTS] Why did Mercedes ask to reduce customs duties on Chinese cars?

Mercedes-Benz CEO Ola Källenius said that his company is not asking for protection. The European Commission will decide in the coming months whether to impose higher import duties on electric cars imported from China.

Mercedes does not rely solely on China for sales, as about 20% of the company's shares are owned by the Chinese automakers Geely and BAIC. Chinese electric cars are currently subject to a 10% tariff when imported into Europe, while European car manufacturers pay 15% when they export to China.