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Archive for Category: "Daimler"
Renault-Nissan Alliance and Daimler AG announce wide-ranging strategic cooperation
The Renault-Nissan Alliance and Daimler AG today announced a broad strategic cooperation that will enable both groups to already realize benefits quickly from a range of concrete projects as well as sharing of best practices. The two groups also announced an equity exchange that will give the Renault-Nissan Alliance a 3.1% stake in Daimler and [...]
Renault-Nissan set for new tie-up with Daimler
French carmaker Renault was expected to approve on Tuesday a new partnership with Germany’s Daimler to exchange capital and to share know-how in building smaller cars. France’s number two carmaker convened a meeting of its board of directors in Paris to “decide on a new partnership with Daimler,” French Industry Minister Christian Estrosi told a [...]
Daimler pleads guilty to US global bribery charges
German automaker Daimler pleaded guilty to US charges of bribery and agreed to pay 185 million dollars to settle the affair, the US government said Thursday. The Justice Department said Daimler and three of its subsidiaries had resolved charges related to a Foreign Corrupt Practices Act (FCPA) investigation into the company’s worldwide sales practices. US [...]
Daimler, BYD to build electric car
The German automaker Daimler said late Monday it had agreed to develop an electric car for the Chinese market with the Chinese group Build Your Dreams (BYD). “Under the agreement, Daimler and BYD intend to develop a new electric vehicle specific to the requirements of the Chinese market,” a joint statement said. A new brand [...]
Crisis-hit truck maker Daimler to cut 3,500 jobs in the US, Canada
German heavy truck maker Daimler said Tuesday it will eliminate 3,500 North American jobs owing to the worsening economic slowdown, a day after Japan's Nissan announced nearly 1,700 jobs were being axed. Following announcements by Nissan, Renault, and Volvo in Europe, and restructuring by General Motors and Ford, utility vehicles are also unveiling hits from [...]
Daimler wants to sell remaining Chrysler stake to Cerberus
German automaker Daimler said Wednesday it wanted to sell its remaining 19.9 percent interest in its former US subsidiary Chrysler to private equity firm Cerberus, which last year acquired a majority stake in Chrysler from Daimler. “Daimler confirms that it is in talks with Cerberus Capital Management on selling its 19.9 percent holding in Chrysler [...]
Daimler picks Hungary for its next compact car plant
German auto giant Daimler ended several months of suspense Wednesday with a decision to build a new auto factory for small Mercedes models in Hungary. Daimler said it would invest about 800 million euros (1.2 billion dollars) in a plant in Kecskemet, 80 kilometres (50 miles) southeast of Budapest, dashing hopes in Poland and Romania [...]
Daimler posts 3Q loss of $2.18 billion
Automaker Daimler AG posted its first quarterly loss since 2003, with charges of $3.7 billion from the sale of Chrysler offsetting big gains by its Mercedes-Benz Car Group. But the 1.53-billion euro ($2.18 billion) quarterly loss was anticipated by analysts, who were cheered by an otherwise solid performance, noting that sales were up in key [...]
World Premiere for the Heavy-Duty Engine Platform from Daimler Trucks
Andreas Renschler, member of the Daimler Board of Management and Head of the Daimler Trucks Division, and his colleagues, Dr. Michael Dostal, who is responsible for Powertrain Operations & Manufacturing Engineering, and Chris Patterson, who is responsible for the NAFTA Region and the commercial vehicle brands Freightliner, Sterling, Western Star, and Thomas Built Buses, today [...]
Daimler AG lays the foundation for a van plant in China
As a ceremonial occasion, the start of construction work for the future production location of Fuzhouin the provinceof Fujianwas celebrated in appropriate style. Fujian Daimler Automotive Ltd (FJDA), a company jointly owned by Fujian Motor Industry Group (FJMG), China Motors Corp (CMC) and Daimler AG, has thereby taken a further step towards a production start-up [...]
