Archive for the ‘Daimler’ Category

German Automakers Face 50:50 Chance of Collapse, VW CEO Warns

Herbert Diess warns battery-cars could cost jobs – and may not be as clean as promised.

by on Oct.16, 2018

VW boss Herbert Diess, left,helps unveil the VW BUDD-e and eGolf Touch electric concepts.

When the U.S. economy collapsed a decade ago two of the three Detroit-based automakers plunged into bankruptcy, surviving only with the help of a massive federal bailout – and that’s the fate that could be facing the German auto industry, as well, the CEO of Volkswagen warned today.

The country’s powerful auto industry faces a 50:50 chance of suffering the same fate that nearly destroyed Detroit’s Big Three manufacturers, Herbert Diess said during a supplier conference in Wolkfsburg VW’s home town.

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“From today’s point of view the chances are perhaps 50-50 that the German auto industry will still belong among the global elite in 10 years’ time,” said Diess, who was appointed VW’s chief executive earlier this year, following a senior management shake-up.

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Future of Alliance with Nissan/Renault the Big Question as Zetsche Prepares to End Role as Daimler CEO

Zetche and Nissan/Renault’s Ghosn insist there is more to come during Paris new conference.

by on Oct.03, 2018

Zetsche and Ghosn first met when the German exec was working at Freightliner and the Brazilian-born Ghosn worked for Michelin.

Since launching the first in a broad series of joint ventures nine years ago, Daimler AG and the Nissan/Renault/Mitsubishi Alliance have generated what they claim to be billions of dollars in “synergies” that have allowed them to expand their product lines and grow into new markets.

But in recent months, the future of that partnership has come under question. The last major new project was announced three years ago. And now, with Daimler Chief Executive Dieter Zetsche planning to relinquish the CEO title next year, that has raised new questions about whether his successor, Ola Kallenius, would keep the alliance going.

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“Without the chemistry between us, maybe this wouldn’t have happened,” said Zetsche, during a joint news conference with Nissan/Renault/Mitsubishi Alliance chief Carlos Ghosn. But considering the results the partnership has generated, “I don’t see from my perspective why the momentum in this relationship should change.”

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Mercedes-AMG Gives New Hypercar its Official Name

Germans also release pics of new Mercedes-AMG One.

by on Sep.27, 2018

The Mercedes-AMG One is shown here in production trim, including its active aero system.

Project One has apparently become reality. Daimler AG is giving an official name to its upcoming hypercar. What was known until now as Project One will simply become the Mercedes-AMG One when it finally goes into production.

A near street-ready version of the $2.5 million hybrid two-seater will make its debut at the Paris Motor Show, the automaker announced this evening, the news coming just days after Mercedes released shots of the Project One prototype going through track testing on a course many believe to be the grueling German Nurburgring.

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“The name stands for the highest automotive ambition: to bring Formula 1 hybrid technology to the road,” the automaker said, adding that, “Mercedes-AMG One will be the pinnacle of the model portfolio and the absolute top-of-the-line model – as is logically referenced by the One.”

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Shake-Up at Daimler Takes Zetsche Closer to Retirement

Ola Kaellenius set to become first non-German ever to run the 132-year-old company.

by on Sep.26, 2018

Daimler CEO Dieter Zetsche - shown at the 2018 Detroit Auto Show with Arnold Schwarzenegger after debuting the new G-Class SUV.

Dieter Zetsche, the CEO of Daimler AG, will be moving up, and a step closer to retirement next year when he assumes the job of chairman of the German manufacturer’s Supervisory Board.

Easily recognizable with his brush mustache, Zetsche will turn 66 as he hands day-to-day control over to Ola Kaellenius, currently the director of vehicle development for the Mercedes-Benz brand. A 49-year-old Swede, Kaellenius will become the first non-German to head the company since it was founded 132 years ago.

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“In Ola Kaellenius, we are appointing a recognized, internationally experienced and successful Daimler executive,” said current Daimler Chairman Manfred Bischoff in a statement, adding that “With Dieter Zetsche’s intended appointment as Chairman of the Supervisory Board, we are ensuring continuity for the sustained success of Daimler AG.”

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Merkel Pressing German Automakers for Diesel Pollution Solution

Companies scrambling to find a cleaner diesel.

by on Sep.24, 2018

German Chancellor Angela Merkel, center, is pressing German automakers for a solution for cleaner diesels.

With driving bans aimed at diesel engines looming in several German cities, German Chancellor Angela Merkel is pressing German carmakers for help in coming up with ways to make vehicles cleaner while avoiding limits on traffic, averting a potential political crisis that could threaten her government.

The government, however, is yet to come up with a specific plan though it indicated some progress is being made after a high-level meeting in Berlin attended by Volkswagen AG CEO Herbert Diess, Daimler AG CEO Dieter Zetsche and BMW AG chief Harald Krüger, Finance Minister Olaf Scholz and Minister of Transport Andreas Scheuer also took part in the deliberations at the Chancellery, according to German press accounts

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Scheuer indicated carmakers rejected expensive hardware retrofits of diesel vehicles that had been suggested for vehicles from the emission class Euro 5. Reports from German regulators have described the retrofits as “technically feasible and economically justifiable.”  (more…)

Aston Martin Sketches Out its Future With Supercar Design Tease, IPO Plans

British marque hopes to repeat Ferrari’s success.

by on Sep.21, 2018

Aston has released a preliminary sketch of its third hypercar, the 003, which it hopes to have in production in 2021.

Aston Martin, the carmaker best known for its relationship with cinema spy 007, has laid out key details of its upcoming IPO while also releasing a preliminary sketch of the hypercar it’s calling 003 that it hopes will drive some of its future success.

Spun off by Ford Motor Co. in 2007, Aston struggled to avoid an eighth bankruptcy during the depths of the Great Recession, but its fortunes have skyrocketed over the last few years, a period coinciding with the arrival of CEO Andy Palmer and the subsequent commitment of hundreds of millions of dollars in new capital from its key investors.

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The IPO will go off next month on the London Stock Exchange, Palmer announced, declaring that it “will provide investors with a fitting opportunity to participate in our future success.”

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Daimler Invests Millions in Electric Busmaker Proterra

U.S.-based company expands Daimler's battery-electric capabilities.

by on Sep.20, 2018

Daimler Truck has invested millions in California-based electric busmaker Proterra to help with its battery-electric development.

Daimler Trucks & Buses agreed to put up part of a $155 million investment in an electric bus company founded and based in the United States.

Proterra Inc., with offices in California’s Silicon Valley, South Carolina and Los Angeles, announced it closed a $155 million investment round co-led by Daimler, the world’s largest manufacturer of commercial vehicles, and Tao Capital Partners.

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Martin Daum, member of the Board of Management of Daimler AG with responsibility for Daimler Trucks & Buses, noted Proterra has emerged as a leader in the electric-bus business with more than 90 customers across the United States. (more…)

Daimler Truck Inks 6-Year Deal with UAW Workers

New deal includes raises and lump-sum payments.

by on Jul.30, 2018

Daimler Trucks North America reached a new six-year deal with its 6,000 hourly workers in the U.S.

Daimler AG and the United Auto Workers confirmed workers have approved a new six-year labor contract that covers more than 6,000 employees in the United States.

“Daimler Trucks North America is very pleased that UAW members at six of our U.S. manufacturing and distribution locations have voted to ratify new collective bargaining agreements,” Daimler AG said in a statement.

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“The agreements represent the continuation of a long and fruitful relationship between the UAW and DTNA, and we are proud to renew our partnership with them for another six years.” (more…)

Daimler AG Pushing Forward on Restructuring Plans

Company's move to split into three units provides more freedom.

by on Jul.26, 2018

Daimler AG is splitting into three separate entities to improve efficiency and profitability.

Daimler AG took another step toward a restructuring aimed at giving its three key operating units – cars, trucks and financial services – greater freedom and flexibility.

The plan approved by the company’s supervisory board this week creates three new operating companies while the parent company, Daimler AG, retains oversight and governance, according to the company’s announcement.

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“The new structure positions Daimler to tackle the rapid pace of change in the mobility sector and the corresponding strategic challenges. Legally independent divisions will sharpen our focus on the future success of the business.” Manfred Bischoff, chairman of the Supervisory Board of Daimler AG. (more…)

Detroit Auto Show Moving to June in 2020, Adding Major New Features

Sponsors aim to revive what's been North America’s leading car show.

by on Jul.23, 2018

Toyota Pres. Akio Toyota is shown here revealing the 2019 Camry during this year's NAIAS.

The North American International Auto Show will move from January to June in 2020, a new timeslot that organizers are betting will help revive the flagging momentum of what had long been one of the industry’s most important annual events.

The Detroit Auto Dealers Association had signaled its intention of abandoning its traditional, mid-winter schedule, though a switch to October was also under study. But that would have conflicted with other shows in Europe and Asia, the dealer group’s Executive Director Rod Alberts told bingdb.info in an exclusive interview.

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In a background briefing ahead of today’s official announcement, Alberts said one of the advantages of a summer event is the ability to add new functions that expand beyond the confines of Detroit’s sprawling Cobo Hall convention center. “We realized we have to change the show (and) showcase Detroit, too,” said Alberts, who has been running the DADA for the past 28 years.

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