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Market Chatter: Mercedes-Benz Lobbies to Raise Chinese Ownership Cap in U.S. Senate Bill

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Mercedes-Benz is lobbying to ease a proposed U.S. Senate bill that would ban vehicle sales in the U.S. by automakers with more than 15% Chinese ownership, Bloomberg News reported Tuesday.

The German automaker is seeking to raise the ownership threshold to 25%, aligning it with the proposed limit for suppliers of connected vehicle parts and software, the report said.

Chinese entities own about 20% of Mercedes-Benz, including nearly 10% held by BAIC Motor (HKG:1958) and 10% by Geely (HKG:0175) Chairman Li Shufu, according to the report.

The bipartisan bill was introduced in April over national security concerns.

Mercedes-Benz did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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