Thousands of Daimler workers have agreed to cut their hours and give up bonuses for 2020 in order to save jobs amid the coronavirus crisis, the German automaker said Tuesday. The owner of Mercedes-Benz was already having a hard time with restructuring set to include major job cuts before the crisis led a drop in car sales. […]
Daimler
Daimler talks with employees amid 15,000 jobs at risk
Labour representatives at German automaker Daimler stated on Monday that discussions with management over cost reductions had become “rougher” after a board member said over the weekend that over 15,000 jobs were at risk. The auto industry has been having a hard time due to the coronavirus crisis, over which governments and automakers had to […]
Daimler looks forward to sell French factory in production overhaul
Daimler AG will seek to sell its factory located in Hambach, France, as part of an overhaul of its production system, the German automaker said on Friday, prompting France’s finance minister Bruno Le Maire to urge the company to reconsider. The move comes as the auto industry deals with overcapacity and declining demand for new […]
Bruno Le Maire urges Daimler not to sell Hambach plant
French Finance Minister Bruno Le Maire urged German automaker, Daimler, on Friday to reconsider plans to sell its factory in Hambach, France. The automaker said earlier on Friday it would seek to sell the plant where it produces electric and combustion-engined variants of its two-seater Smart vehicles, as part of a major overhaul of its […]
Daimler and Nvidia team up for making self-driving cars
Daimler and Nvidia revealed a deal on Tuesday to develop and gear up the German company’s Mercedes-Benz cars with a next-generation chip and software platform that could ultimately be used to help vehicles drive by themselves. The move is a response to Tesla’s ability to assemble custom-designed chips with thousands of lines of code, which […]
Geely Holding to explore deeper cooperation with Daimler
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 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 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
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’s earnings decline as coronavirus hit sales
German automaker Daimler reported a drop of almost 70% in first-quarter operating profit on Thursday because of the coronavirus pandemic and warned that the cash flow it utilizes to pay dividends would drop this year. The maker of Mercedes-Benz vehicles had a time with customers shunned car and truck showrooms during coronavirus lockdowns and experts […]
Daimler partners with Volvo for $1.3 billion Hydrogen fuel-cell joint venture
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
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 […]
BMW and Daimler to slash emissions 20% this year
New electric models are going to encourage BMW and Daimler cut emissions from the vehicles they sell by an average of 20% this year, the German automakers predicts, as they look forward to meeting tough new European pollution rules. In a live-streamed event, after the cancellation of Geneva motor show because to the coronavirus epidemic, […]
Daimler says production in China stable, early to evaluate coronavirus impact
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 […]
Daimler warns of impact of coronavirus outbreak
German automaker Daimler on Friday cautioned of dangers for the economy and its own business because of the outbreak of coronavirus that is spreading in China and elsewhere in the world. “Risks for the Daimler Group may not only affect the development of unit sales, but may also lead to major adverse effects on production, […]
