INSIGHTS
Mercedes –Benz, currently in its second year of operations in Vietnam, has decided to raise its registered capital by an additional $10 million to $30 million. Mercedes-Benz Director General Michael Behrens said that half of the additional capital will be designated for developing new production lines and the remain
Mercedes-Benz expands operation in Vietnam
Date: 2014/03/18
Source: Business Times
Mercedes –Benz, currently in its second year of operations in Vietnam, has decided to raise its registered capital by an additional $10 million to $30 million.
Mercedes-Benz Director General Michael Behrens said that half of the additional capital will be designated for developing new production lines and the remainder will be utilized for environment equipment.
Last year, the German auto manufacturer placed a modernized environmentally friendly paint factory into operation at a cost of $10 million.
This year, the company will introduce 18 new models, bringing the total number of its up-scale automobile models on its showroom floors to 40.
Last year, sales of the auto retailer grew by 65%, triple that of the country's average dealer, and Mr Behrens has high expectations they will continue to prosper this year.