Tag Archives: Ola Källenius

Mercedes-Benz to invest €60B to be Electric Only

The Supervisory Board agreed to  an investment plan for the years 2022 to 2026 of more than €60 billion. Mercedes-Benz claims it will reduce capex, research and development expenses for the electrification of the product portfolio and digitalization processes, including steps towards automated driving, albeit at an admittedly high level. Needed to do this is an increase net revenues per vehicle. In addition, a gradual shift toward a direct sales model, which includes control over pricing, is being sought. Rising revenue from digital services will further support results. Continue reading

Posted in connected vehicles, electric vehicles, mobility company | Tagged , , , , , | Leave a comment

Daimler Boards Approve Spin Off of Mercedes-Benz Cars and Daimler Truck as Two companies. Shareholder Vote in October

In a high stakes move by the Daimler AG Board of Management and Supervisory Board (ticker symbol DAI) to separate two very different businesses and insulate the parent company from financial threats that Global Warming, connected and autonomous vehicles and automaker upheavals are causing, approved making Mercedes-Benz Cars and Daimler Truck independent companies. Continue reading

Posted in autonomous vehicles, global warming, mobility company, news analysis | Tagged , , , , , , , | Leave a comment

Daimler Earns €4.0 billion in 2020

During 2020, net profit improved to €4.0 billion (2019: €2.7 billion). Net profit attributable to the shareholders of Daimler AG amounted to €3.6 billion (2019: €2.4 billion), leading to an increase in earnings per share to €3.39 (2019: €2.22). At the Annual General Meeting on 31March 31, 2021 the Board of Management and the Supervisory Board will propose a dividend of €1.35 per share (2019: €0.90). Total payout will amount to €1.4 billion (2019: €1.0 billion). Continue reading

Posted in financial results | Tagged , , , , , , | Leave a comment

New Mercedes-Benz Strategy Aimed to Help Higher Profits

This follows the Q2 Daimler disaster. The COVID pandemic or the Grim Reaper saw a decline in demand for cars, vans, trucks and buses. Group total sales decreased by -34% to 541,800 cars and commercial vehicles (Q2 2019: 821,700). Revenue slipped significantly by -29% to €30.2 billion (Q2 2019: €42.7 billion). EBIT was minus -€1,682 million (Q2 2019: minus -€1,558 million). Adjusted EBIT was -€708 million (Q2 2019: plus €2,447 million). Continue reading

Posted in economy, financial results, milestones, mobility company | Tagged , , , , , , , , , | Leave a comment

Mercedes-AMG Petronas Win F1 Constructors’ Championship

“When we re-joined Formula One with a works Mercedes team in 2010, it was part of a long-term strategic plan,” said Ola Källenius, member of the Board of Management of Daimler AG, responsible for Group Research & Mercedes-Benz Cars Development. Continue reading

Posted in electric vehicles, performance, racing, results | Tagged , , , , , , , , , | Leave a comment

Surprise! Bodo Uebber to Leave Daimler Board as Purge Continues

Like all automakers, Daimler is facing the unknown future of mobility, autonomous vehicles and the internet of things. Its problems are complicated by currency valuations and a vulnerable international supply and manufacturing footprint fraught with political issues starting in Germany, and competitors, of course. Continue reading

Posted in auto news, electronics, people | Tagged , , , , , , , , , | Leave a comment