00:00The Chinese car market I think probably is the most competitive car market in the world now.
00:06One of the reasons is so many new entrants.
00:08It's like a hundred companies plus that is vying for this market and also vying for the new EV market.
00:15We have every opportunity to partake in that competition.
00:20And I think the recipe for success if you want to be one of the winners in that game,
00:25and that is what we're doing at Mercedes-Benz,
00:27is you need to double down on what the Chinese customer is looking for.
00:31So if you have adjustments to be made to your products to better cater for the Chinese customers, do that.
00:37Do it on location so you can quickly react to what the market needs.
00:41For instance, in the digital space, we have built up a significant R&D team in China for China
00:48to be able to track to the market but also take advantage of the cost structure that you have in China.
00:54There is nothing impeding us from doing that.
00:57So in my meeting with Minister Wang, we talked about that.
01:01We said very clearly our intent to increase our investments in China,
01:06but also to say to him and his European counterparts,
01:10you're in the trade dispute right now.
01:12It was started by the EU.
01:14See if you can find common ground.
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