Korea 'hugely important' market for Mercedes-Benz: company chairman

The Korea Times

The Korea Times

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Sun, December 3, 2023 | 20:15

Companies

Korea 'hugely important' market for Mercedes-Benz: company chairman

Posted : 2023-08-24 15:32

Updated : 2023-08-25 09:41

Ola Kallenius, chairman of Mercedes-Benz speaks about the company's business strategy and introduced the first all-electric Mercedes-Maybach EQS SUV at a press conference held at The Shilla hotel in Seoul, Thursday. Courtesy of Mercedes-Benz Korea

By Kim Hyun-bin

Mercedes-Benz Chairman Ola Kallenius said Thursday that the German luxury car brand plans to further expand collaboration with Korean partners and finds the local market to be "hugely important" for the carmaker during a press conference held at The Shilla hotel in Seoul.

The previous day, Kallenius had discussions with Chey Jae-won, senior vice chairman of SK Group, regarding battery-related cooperation. He said meetings were scheduled with other companies during his visit to Korea.

"We literally have hundreds of suppliers in Korea. I am meeting with key supply partners and technology partners today," the chairman said. "I don't think we build a single car around the world without a piece of Korea in those cars. From the technology point of view, Korea is hugely important to us in many different technical verticals."

Korea is considered one of the most significant markets for Mercedes-Benz headquarters. Last year, sales of Mercedes-Benz vehicles in Korea rose to a record 80,976 vehicles.

First all-electric Mercedes-Maybach EQS SUV / Courtesy of Mercedes-Benz Korea

In terms of sales volume, Korea is the fourth-largest market globally. The only countries with higher annual sales are China, the U.S. and Germany. Korea also holds the position of being the second-largest market for the highest-priced product line of Mercedes-Benz, the Maybach.

At present, the carmaker's highest priority lies in electrification. "In the second quarter of this year, electric vehicle sales for Mercedes-Benz grew by 123 percent," Kallenius said. "We are not only expanding our physical distribution network and consumer touchpoints, but also increasing charging infrastructure."

Mercedes-Benz is establishing ultra-fast charging infrastructure globally, setting an initial goal of 10,000 stations. "We plan to install ultra-fast charging infrastructure in Korea as well," Kallenius said marking the first time the company has expressed its intentions to establish such infrastructure domestically.

hyunbin@koreatimes.co.kr

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