Mercedes-Benz parent to build $2.7b China plant

Mercedes-Benz parent Daimler (DAI.ETR) is planning a US$2.7 billion factory in China, Bloomberg reported, citing Hubertus Troska, the company’s China head. The plant would be the luxury carmaker’s biggest. It is scheduled for completion as early as 2014 and will double China production to more than 200,000 units a year, according to Troska. The country is on track to become the company’s most substantial market by 2015, he said. Daimler trails behind BMW (BMW.FRA) and Volkswagen’s (VOW.FRA, VOW.ETR) Audi, currently the top two luxury car brands in the world’s largest auto market.