Mercedes-Benz develops new strategic plan for China

Daimler AG unit Mercedes-Benz plans to launch about 20 new or upgraded car models in China over the next two years, reports Reuters.

The plan is a key component of Mercedes’ broader “2020 initiative.”

The automaker aims to boost sales of its cars in China by a third to more than 300,000 cars a year by 2015, Reuters reported, citing two individuals familiar with the matter.

“Daimler’s new China chief, Hubertus Troska, and his management team are expected to unveil details of the plan, which also includes expanding manufacturing capacity and the sales network, in Beijing and Chengdu this week,” according to news report.