Kering strengthens its presence in China, AccorHotels finalizes its acquisition of Mövenpick, Mercedes-Benz unveils its electric SUV
Kering appoints Jinqing Cai President of Kering China to strengthen the group’s presence in the region. For its part, AccorHotels has announced the completion of the acquisition of Mövenpick Hotels & Resorts on September 3, 2018. In parallel, Mercedes-Benz has just unveiled its very first electric SUV: the Mercedes-Benz EQC.
September 6, 2018 | Press review
Career
Kering announced Tuesday the appointment of Jinqing Cai as the group’s president for its area called “Greater China“.
After managing Christie’s China, this public relations professional is entrusted with the presidency of Kering China.
“Her mission will be to strengthen Kering’s visibility in Greater China and to strengthen the links between the group and its local partners“, the group said in a statement. Jinqing Cai will be based in Kering’s offices in Shanghai under the supervision of Jean-François Palus, Deputy Managing Director of Kering.
François-Henri Pinault, Chairman and CEO of Kering, said: “Kering started investing in Greater China many years ago, and built the foundation for a successful and sustainable business, while constantly strengthening its links with local partners. I am very pleased with the appointment of Jinqing Cai, which once again demonstrates our commitment to Greater China in the long term“.
Jinqing Cai will take office on September 10, 2018. In addition to her new role at Kering China, Jinqing Cai will also work as Vice Chairman of the Christie’s China Advisory Board.
Finance
AccorHotels has announced Tuesday the completion of the acquisition of Mövenpick Hotels & Resorts, finalized on September 3. Mövenpick Holding previously owned 66.7% of the Swiss group and the remaining 33% were possessed by Kingdom Holding, a Saudi investment fund.
According to Reuters, AccorHotels has announced the purchase of the Swiss group on 30 April for a total of 482 millions euros.
“With more than 20,000 rooms in 84 locations and 42 opening projects by December 2021, Mövenpick’s network strengthens AccorHotels’ presence in Europe and Asia while accelerating the group’s growth in Africa and in the Middle East“, annonced AccorHotels in an official statement issued on September 4.
AccorHotels already manages more than 650.000 rooms, half of which are outside Europe. The hotel group inaugurated 20.000 rooms in the first half and plans to open another 67.000, of which 80% will be in “emerging markets“, mostly thanks to the sale of 57.8% of stake in the group’s real estate assets, AccorInvest.
Business
Daimler unveiled its 100% electric Mercedes-Benz EQC at a dedicated event in Stockholm. The motorist thus invites himself on a growing market: the electric SUV.
With more and more eco-friendly customers, many car groups have decided to launch their electric SUV.
The Mercedes-Benz EQC will offer a range of 450 kilometers with a lithium-ion battery of 80 kWh, whose weight reaches 650 kilos. With a power of 300 kw, or about 408 horsepower, and powered by two asynchronous motors, the model of the German group is capable of reaching 100 km / h in the space of only 5.1 seconds for a top speed of 180 km / h .
In addition, the vehicle is equipped with an intelligent voice assistant called LINGUATRONIC. This system is supposed to automatically improve the comfort of users by managing more than basic tasks, such as phone calls, music selection or weather forecasts.
The production of the Mercedes-Benz EQC is expected to begin early 2019.
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