Geely Holding to explore deeper cooperation with Daimler

Geely automobile holding

China’s Geely Holding will explore the possibility of deeper cooperation with German automaker Daimler AG, its Chairman Li Shufu stated on Friday. Geely built a 9.69% stake in Daimler in 2018. The two companies established a China-based venture for building electric Smart cars and a separate premium ride-hailing venture. They also invested in Volocopter, a […]

Volkswagen, Daimler urge Germany to boost car demand as profits declines

Volkswagen brand logo

Volkswagen and Daimler on Wednesday prompted the German government to help increase demand for cars as the coronavirus pandemic damaged first-quarter profits and forced both automakers to drop their forecasts for the year. The demands came as German chancellor Angela Merkel plans to host a summit with auto industry leaders to talk about the ways […]

Daimler hikes risk provisions, sees a difficult second quarter

daimler denza ev

Daimler on Wednesday warned that the automaker faces a difficult second quarter as it increased credit risk provisions to expect rising delinquencies among consumers who leased or bought Mercedes-Benz passenger cars. The automaker reported 448 million euros in credit risk provisions to cover possible credit losses following the coronavirus pandemic which has caused global demand […]

China automobile business is showing recovery, says Daimler

china cars

German automaker Daimler has seen business stabilize in China after the country ended coronavirus lockdowns, a senior manager at the automaker informed a newspaper on Sunday. “In China alone, we sold about 50,000 vehicles again in March. That makes us confident,” said Markus Schaefer, managing board member for production, according to Bild am Sonntag newspaper. […]

Daimler partners with Volvo for $1.3 billion Hydrogen fuel-cell joint venture

Images of Volvo V90 Cross Country

German automaker Daimler has announced on Tuesday that it is collaborating with Swedish auto giant Volvo to establish a $1.3 billion joint venture to make Hydrogen fuel-cell for trucks. Both the automaker are looking for green mobility options aggressively and the joint venture comes as part of their upcoming strategy. As Daimler Truck chairman Martin […]

Daimler provides 99 Mercedes-Benz Citaro buses to UAE

Abu Dhabi, UAE

Daimler Buses on Friday has said that it has provided 99 Mercedes-Benz Citaro buses to the Abu Dhabi Department of Transport (ADDT) of the United Arab Emirates. The ADDT is aiming to significantly expand and modernize the UAE capital’s transport system and these buses are expected to play a major role in that strategy. As Daimler Buses states, these are low-floor […]

Daimler says production in China stable, early to evaluate coronavirus impact

Daimler

Daimler’s car production in China is stable and the supply chains are secure however it is too early to forecast the impact of the coronavirus outbreak on the automaker’s sales, Mercedes-Benz’s sales chief stated. Britta Seeger confirmed Mercedes-Benz’s forecast for 2020 sales to be little below last year’s level and stated three-quarters of Mercedes sellers […]