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北京时间·🕒 发布 21:15:07时区推断·⟳ 抓取 21:16:46·⚡ 决策 07-28 21:51:38 +34m52s·90.8 天前
梅赛德斯CEO称将保护美国业务以应对美国涉华股东禁售风险
当前新增事实主要是CEO表态会调整合规以保护美国业务，并非美国禁售已经落地或公司经营指引被正式下修。
📄 原文Reuters↗ 原文
Mercedes-Benz's (MBGn.DE) CEO pledged on Tuesday to shield its U.S. business from a possible sales ban, as concerns in…
不做 梅赛德斯-奔驰集团（MBG.DE）
美国禁售风险仍停留在立法讨论和理论适用层面，CEO表态偏防御但未确认经营损害；看空催化不够强，不做。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
🔎 新鲜度:最早出现 2026-07-28 · 扩散 medium · price-in 风险 medium ↗
关键理由
- 当前新增事实主要是CEO表态会调整合规以保护美国业务，并非美国禁售已经落地或公司经营指引被正式下修。
- 美国参议院委员会上周通过的涉华车企限制仍处立法讨论阶段，对梅赛德斯美国销售的影响属于理论风险，短线难形成强空催化。
- 公司同时披露美国上半年销量增长15%并继续扩大美国本地生产，抵消了部分监管担忧。
主要风险
- 若后续美国法案明确将受中国股东持股影响的车企纳入禁售范围，梅赛德斯美国业务估值可能被重新压低。
- 中国销量下滑与美国关税、本地化规则谈判仍会压制公司全球利润预期。
原文全文
展开原文 · 2,325 字
Mercedes-Benz's (MBGn.DE) CEO pledged on Tuesday to shield its U.S. business from a possible sales ban, as concerns in Washington over the German carmaker's Chinese investors threaten it with exclusion from one of its few remaining growth markets.
The U.S. Senate Commerce Committee approved legislation last week to toughen a ban on Chinese automakers entering the U.S. market that could, in theory, bar Mercedes from selling vehicles there, since its top two shareholders are Chinese.
"If we need to make adjustments to comply with anything, we will make sure that we protect our presence and our business in the U.S.," CEO Ola Kaellenius said, as the company reported second-quarter results.
"We are not naive about the geopolitical environment and the competition between the United States and China."
Kaellenius said the company was monitoring the U.S. debate closely and was "deeply involved" in talks with relevant parties.
Chinese carmaker BAIC Group and Geely's (0175.HK) billionaire founder Li Shufu together hold nearly 20% of Mercedes' listed shares.
MERCEDES COULD SET UP ENGINE PRODUCTION IN U.S., CEO SAYS
Faced with plunging sales in China, where the company and its German peers have fallen behind in a rapid shift to electric vehicles, Mercedes is building up local production in the U.S., where demand for its traditional cars remains high.
At a time when the Trump administration is also pressuring foreign companies with tariff threats, Mercedes has pledged over $7 billion in investments in its U.S. operations, including $4 billion through 2030 to boost SUV production at its Alabama plant.
Kaellenius said the company could set up engine production in the U.S. depending on the outcome of a North American trade pact revamp currently under negotiation, which could possibly include U.S.-specific content rules for vehicles in the region.
Mercedes has good reason to protect and even expand its U.S. footprint. Sales there grew by 15% in the first six months of the year, helping to offset some of the pain in China. The combustion engine cars popular there, meanwhile, earn the company fatter margins compared to costlier-to-produce EVs.
"If you are manufacturing locally in the U.S., it is a licence to print money," said independent automotive analyst Matthias Schmidt.
The U.S. Senate Commerce Committee approved legislation last week to toughen a ban on Chinese automakers entering the U.S. market that could, in theory, bar Mercedes from selling vehicles there, since its top two shareholders are Chinese.
"If we need to make adjustments to comply with anything, we will make sure that we protect our presence and our business in the U.S.," CEO Ola Kaellenius said, as the company reported second-quarter results.
"We are not naive about the geopolitical environment and the competition between the United States and China."
Kaellenius said the company was monitoring the U.S. debate closely and was "deeply involved" in talks with relevant parties.
Chinese carmaker BAIC Group and Geely's (0175.HK) billionaire founder Li Shufu together hold nearly 20% of Mercedes' listed shares.
MERCEDES COULD SET UP ENGINE PRODUCTION IN U.S., CEO SAYS
Faced with plunging sales in China, where the company and its German peers have fallen behind in a rapid shift to electric vehicles, Mercedes is building up local production in the U.S., where demand for its traditional cars remains high.
At a time when the Trump administration is also pressuring foreign companies with tariff threats, Mercedes has pledged over $7 billion in investments in its U.S. operations, including $4 billion through 2030 to boost SUV production at its Alabama plant.
Kaellenius said the company could set up engine production in the U.S. depending on the outcome of a North American trade pact revamp currently under negotiation, which could possibly include U.S.-specific content rules for vehicles in the region.
Mercedes has good reason to protect and even expand its U.S. footprint. Sales there grew by 15% in the first six months of the year, helping to offset some of the pain in China. The combustion engine cars popular there, meanwhile, earn the company fatter margins compared to costlier-to-produce EVs.
"If you are manufacturing locally in the U.S., it is a licence to print money," said independent automotive analyst Matthias Schmidt.
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