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Mercedes-Benz out, BYD fully in: Chinese automaker BYD has fully acquired a joint venture with Germany’s Mercedes-Benz to market the Denza premium EV, Bloomberg reports. BYD purchased the remainder of Mercedes-Benz’s 10% stake in the JV for an undisclosed amount.
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Background: The JV was a 13-year-long partnership — established in 2011 — focused on premium EVs, but low sales led Mercedes to lower its stake to 10% back in 2021.
Heightened trade tensions between China and EU prompted this: The EU is working to impose additional tariffs on Chinese EVs of up to 36.3%, although EU governments were divided over tariffs on Chinese e-vehicles in a non-binding vote at the European Commission back in July. A new vote by member states is slated for next week, Bloomberg writes.
Amazon boosts same-day shipping with generative AI: Shipping giant Amazon is enhancing its same-day shipping operations by deploying generative AI to boost performance and transportation technology, VP Steve Armato told CNBC. The firm is integrating the tech across its supply chain operations to streamline delivery routes, determine where to stock new items, and make more intelligent warehouse robots. Amazon delivered over 2 bn items the same or next day in 1Q 2024, using generative AI to forecast inventory trends and gaps, Armato said.
Shifting production lines: Amazon’s AI system is three times better at identifying damaged products than humans are, according to company data cited by the news outlet. The intelligent robots will be used to reduce the burden on employees at the company and make space for new roles, Armato noted. The firm is looking to invest USD 1.2 bn in upskilling over 300k employees by the end of 2025.
