Daimler has no strategies to spin off its trucks division or to pursue a merger with BMW as a means to increase the company’s share price, Chief Executive Ola Kaellenius stated last week. “There are no plans to modify the capital structure of Daimler,” Kaellenius informed analysts on a call to talk about second-quarter results. […]
Daimler
Daimler has no idea how North Korean leader Kim Jong Un got limousines
Daimler, the maker of armored limousines used by North Korean leader Kim Jong Un, states it has no idea where the leader got them and has no business dealings with the country. Kim Jong Un has attracted attention by using Daimler-branded stretch limousines at several very high-profile summits, such as his meeting this week with […]
Daimler to pull Smart mini-cars out of United States, Canada
The tiny, two-person Smart cars once thought as the next big thing in urban mobility will be discontinued in the United States and Canada by the end of the current model year, German automaker Daimler AG stated on Monday. Smart cars, with their distinctive styling and ability to fit in half a parking space, found […]
Daimler seeks to cut 10,000 jobs and $6.75 billion in cost
Daimler’s new boss Ola Källenius won’t officially start until May 22, but is already reportedly looking to decrease the company’s footprint with a reported cutting up to 10,000 jobs, according to Manager Magazin. The magazine states that Källenius is looking to make both Daimler and Mercedes-Benz more streamlined, and also seek a $6.75 billion in […]
Daimler to release electric compact SUV in 2021
Daimler plans to release an electric compact sport utility vehicle in 2021 that will be called the Mercedes EQB, the German automaker’s CEO stated on Tuesday. Dieter Zetsche made the remarks at a press conference on the sidelines of the Shanghai Autoshow.
Daimler starts Mercedes-Benz plant near Moscow, Putin attends the ceremony
German automaker Daimler formally opened a Mercedes-Benz factory near Moscow on Wednesday at a ceremony attended by Russian President Vladimir Putin, marking a foreign investment into Russia’s auto industry. The plant in the town of Esipovo 40 kilometers north west of Moscow is the first in years to be started by a foreign automaker in […]
Daimler, BMW looks to limit cooperation to produce electric car in China
Daimler and BMW are thinking to limit their planned cooperation to jointly produce an affordable electric car in China, according to German daily Sueddeutsche Zeitung. Daimler and BMW refused to discuss. Last month, news reports stated that BMW and Daimler are in discussion to cooperate in developing vehicle platforms for electric cars in a move […]
Daimler asks EU antitrust regulators to investigate Nokia patents
Daimler has complained to EU antitrust regulators about Nokia patents important to car communications, a move underlining the tensions between tech firms and the auto industry on the use of major technologies. Tech companies and mobile telecoms providers are playing a significant role in the auto industry, with their technologies utilized in navigation systems, vehicle-to-vehicle […]
Daimler gets closer to sell half its Smart unit to Geely
Daimler AG is close to the sale of a 50 percent stake in its small-car brand Smart to China’s Geely Automobile Holdings, the Financial Times stated on Tuesday, mentioning three people knowledgeable with the matter. The sale of the stake in its Smart division will be verified before the Shanghai Auto Show in April, FT […]
Daimler taps Goldman to raise China BAIC shareholding sources
Daimler has asked Goldman Sachs to help it observe boosting its stake in Chinese automaker BAIC Motor, its main China joint venture partner, two people with knowledge of the matter stated. A deal would be only the second since the globe’s biggest auto market relaxed foreign ownership rules in 2018. Daimler’s competitor BMW became the […]
BMW and Daimler seek savings from shared platforms
BMW and Daimler are in talks to work together in developing vehicle platforms for electric vehicles in a step that could save each automaker at least 7 billion euros ($7.91 billion), Sueddeutsche Zeitung and Auto Bild stated on Thursday. The two premium automakers already have a joint procurement program and are now extending their alliance […]
Daimler, BMM looks to define self-driving regulations
Daimler and BMW are collaborating to develop autonomous driving technology to cut costs and set an industry standard that can help to form future regulation for self-driving cars, senior executives stated on Wednesday. “It is a chicken and egg situation. Somebody has to standardize the technology and regulation will follow,” Klaus Froehlich, BMW’s board member […]
BMW, Daimler deepens alliance on self-driving technology
Daimler and BMW strengthens their alliance on Thursday to share increasing development costs for automated driving technologies, even as each automaker pursues separate tasks to develop completely self-driving cars. The huge price of designing and building computer-powered vehicles has currently prompted Honda to pool its efforts with General Motors, where as Volkswagen is in talks […]
Daimler, BMW to invest 1 billion euros in venture to compete Uber
Daimler and BMW revealed a joint ride-hailing, parking and electric vehicle charging business on Friday to rival with mobility services offered by Uber and other tech companies. The luxury car companies stated they would invest over 1 billion euros ($1.13 billion) to broaden the joint venture, moving beyond manufacturing and auto sales toward pay-per-minute or […]
Daimler risks fine as German prosecutors start new investigation
German prosecutors have started an investigation into Daimler for allegedly failing to avoid diesel emissions cheating, possibly resulting in a fine for the automaker, as its legal woes mount up over the affair. German automakers, among the worldwide leaders in diesel technology, have been caught in the crosshairs of courts and regulators across the world […]
