A concept car of Mercedes-Benz is displayed at the 20th Shanghai International Automobile Industry Exhibition in Shanghai, east China, April 18, 2023. (Xinhua/Xin Mengchen)

Mercedes-Benz is planning further investments in China, thus contributing to Sino-German cooperation, Ola Kaellenius, the German carmaker's chairman of the board of management, said recently in an interview with Xinhua.

Kaellenius was speaking with appreciation for the opportunity to participate in the China-Germany inter-governmental consultation and to meet Chinese Premier Li Qiang last week.

Visiting Chinese Premier Li Qiang and German Chancellor Olaf Scholz co-chair the seventh China-Germany inter-governmental consultation in Berlin, Germany, June 20, 2023. (Xinhua/Ding Lin)

During Li's visit, Mercedes-Benz signed a letter of intent with China's National Development and Reform Commission (NDRC) in Berlin to promote corporate and industrial cooperation.

The move "creates a basis for joint support for further projects to develop new energy vehicles (NEV) in China and foster existing partnerships," Kaellenius said.

Noting that China is the world's largest car market and the most dynamic NEV market, Mercedes-Benz remains committed to its business activities in China and plans to actively contribute to the growth of China's auto industry and to boosting the Sino-German economic partnership, according to the company.

The company also intends to enhance its R&D activities such as car software development in China, with its local team projected to double in size by the end of 2023 compared with three years ago.

This photo taken on April 19, 2023 shows the booth of Haier's industrial internet platform COSMOPlat at Hannover Messe 2023 in Hannover, Germany, April 19, 2023. (Xinhua/Ren Pengfei)

The introduction of intelligent technologies further demonstrates the company's commitment to innovation and customer experience, said the company.

With its dynamic economy and a clear focus on innovation, "China is and will remain an important pillar of our long-term global strategy," Kaellenius said.