Investors have taken legal action against Daimler for 896 million euros ($1 billion) in a regional court in Stuttgart, alleging the automaker of concealing its use of emissions cheating software, German law firm TILP stated on Tuesday. The suit was filed on behalf of institutional investors who allege the German automaker of failing to alert […]
Daimler
Daimler, BMW leaving North American car-sharing market, cutting in Europe
BMW and Daimler stated Wednesday they plan to leave the North American car-sharing market, with the joint venture partners stopping operations in Montreal, New York, Seattle, Washington, D.C., and Vancouver, as they concentrate on the European market. SHARE NOW and its Car2Go unit, a joint venture of the two German automakers, are putting an end […]
Nokia, Daimler, others agreed to mediation to resolve a licensing dispute
Nokia, Daimler, and several auto parts suppliers have agreed to independent mediation to find a solution for their technology licensing dispute, the Finnish telecoms equipment maker stated on Thursday. The move, if it leads to a successful result, could stave off a possible EU antitrust investigation after complaints by Daimler, Bury Technologies, Continental, Valeo and […]
Nokia suspends legal action against Daimler in the hope of mediation
Nokia has suspended legal action against Daimler in the hope that mediation will fix their dispute over technology licensing fees. The decision drew a positive response from the German automaker, which reiterated that the two firms had differing legal views on the dispute. Nokia’s pursuit of charges from Daimler has thrown a spotlight on the […]
Daimler cost cuts would hit Germany hardest
Daimler’s workforce in Germany will bear the worst hit of 1.4 billion euros ($1.5 billion) in cost cuts prepared by the end of 2022, the head of the automaker’s works council told a newspaper. “Two-thirds of the sum is to be saved in Germany,” Michael Brecht informed Stuttgarter Zeitung. Daimler stated on Friday it would […]
Daimler could face further recalls because of diesel cheating in Germany
German automaker Daimler could deal with more recalls associated with manipulated diesel engines in some of its compact car models, weekly magazine Der Spiegel reported on Friday, without mentioning sources. Germany’s transportation regulator KBA is presently investigating suspicious software utilized in some diesel engines which Daimler purchased from another automaker, the report said, adding that […]
Daimler to cut at least 10,000 jobs in recent car industry cuts
Daimler stated on Friday it will slash at least 10,000 jobs globally during the next three years, after others in the industry as they cut expenses to spend in electric vehicles while grappling with decreasing sales. It marks the third announcement on expenses cuts this week by a significant German auto company as automakers look […]
BMW, Daimler, Volkswagen fined by Germany for forming steel cartel
Germany’s cartel authority stated on Thursday it was fining the three major automakers of the nation – BMW, Volkswagen and Daimler – a total of 100 million euros for forming a cartel to purchase steel. From 2004 to 2013, the automakers regularly met steelmakers and other firms in the supply chain to talk about uniform […]
Daimler seeks 1 billion euros in savings at Mercedes-Benz by slashing jobs
Stricter emissions rules are going to hit Daimler’s profits in 2020 and 2021, prompting the German automaker to seek over 1 billion euros ($1.1 billion) in savings from slashing staff expenses at its Mercedes-Benz business by the end of 2022, it stated on Thursday. Daimler shares dropped 2.3% in early trading at 52.17 euros, the […]
Daimler CEO says there are no plans to pursue a merger or spin-off
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 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 […]
