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Mercedes eyes off major China expansion

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One of the world’s most luxurious car makers is pouring more resources into it’s Chinese operations

German carmaker Mercedes-Benz is set to put more resources into its cutting-edge tech and research in China, as the country embraces the expansion of electric cars.

In a major effort to create a “home away from home”, Mercedes-Benz says it will be doubling down on bases in Beijing and Shanghai to stay ahead of regulations and consumer trends in a car market that right now outstrips the U.S and Germany, combined.

Three years after initially announcing plans to strengthen its research and development within the communist country, Mercedes is on-track to unveil its new Tech Center China in Beijing later this month.

Mercedes Benz to expand in China/ Image: Mercedes-Benz

The new tech centre:

The centre will host 1,000 engineers and is more than three times the size of the one Mercedes-Benz opened in 2014.

The new centre will also be the first outside Germany that can test “everything”.

Mercedes-Benz has also invested significantly in upgrading its Chinese design studio and has moved the whole team from Beijing to Shanghai, a megalopolis of about 25 million people known as the car design capital of China.

China’s car market continues to grow, particularly within the electric car sector, with sales up 12 percent last year despite COVID-19.

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Why the meme-stock frenzy is unlikely to repeat

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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