Two automotive giants are teaming up to bring self-driving semi-trucks to market. Under this deal, Waymo and Daimler Trucks are partnering to build an autonomous version of the Freightliner Cascadia truck. This is Waymo's first deal in the freight business.
Daimler, the maker of Mercedes-Benz luxury cars and Freightliner trucks, saw third-quarter profit rebound as the company clamped down on costs and auto sales recovered after the coronavirus lockdowns of earlier in the year. The company raised its outlook for expected earnings. Highly profitable vehicles such as the GLA, GLB and GLS sport-utility vehicles boosted earnings, as did the economic recovery in China, said CFO Harald Wilhelm.
Mercedes owner Daimler is committed to Formula One but is working to slash costs and cut the environmental impact of motor racing, Chief Executive Ola Kaellenius on Wednesday. "We have as little reason to step out of Formula One as Bayern Munich has to step out of football," he said during a virtual roundtable discussion with journalists on Wednesday. The carmaker is developing a plan to make the sport emissions neutral, including through the use of synthetic fuels, and wants to improve the co
German car and truck maker Daimler reported a plunge of nearly 70% in first-quarter operating profit on Thursday due to the coronavirus pandemic and warned that the cash flow it uses to pay dividends would fall this year. The maker of Mercedes-Benz vehicles suffered as customers shunned car and truck showrooms during coronavirus lockdowns and analysts said the slide in Daimler's valuation over the past year put more pressure on it to deepen alliances with rivals. Daimler said preliminary adjus
Luxury German carmaker Daimler and Volvo Cars, owned by China's Geely, are considering cooperating to cut the costs of developing combustion engines, a magazine reported on Sunday, citing unnamed company sources. The Automobilwoche weekly cited a Volvo manager as saying there were initial talks with Daimler, but no concrete plans, while a company spokesman said it was too early to talk about firm projects, although it was not excluding anybody. A Daimler spokesman said the company's
Daimler has taken a "reality check" on self-driving "robotaxis", acknowledging that making them safe is proving harder than first thought amid questions over their future earnings potential. Daimler would "rightsize" its spending level on robotaxis and that self-driving technology would more likely be applied to commercial vehicles for freight companies on long haul routes. Carmakers raced to develop self-driving vehicles after Google presented a prototype car in 2012, leading Daimler to devel
Tougher emissions rules will hit Daimler's profits in 2020 and 2021, prompting the German carmaker to seek more than 1 billion euros ($1.1 billion) in savings from cutting staff costs at its Mercedes-Benz business by the end of 2022, it said on Thursday. Daimler shares were down 2.3% in early trading at 52.17 euros, the biggest decline on Germany's DAX blue-chip index, which was down 0.3%. Management positions will be cut by around 10%, and company said it would also seek more than 300 million
Chrysler and Fiat CEO Sergio Marchionne is nothing if not cagey. When the CEO out-maneuvered the White House in 2009 to strike a great deal to take-over Chrysler with U.S. government loans, it was considered a forgone conclusion that he would eventually take the company public in an initial-public offering. Now, the CEO says an ipo is merely 50-50.
On the eve of a vote that could cripple unions throughout the state of Michigan, President Obama visited a Detroit-area automotive plant to tout their importance.
BYD e6 electric MPV – Click above for high-res image gallery
Recently we learned that AMP electric vehicles had made a deal with an undisclosed automaker to electrify one of their SUVs. While one might legitimately suspect the unnamed one is General Motors, since the Chevrolet Equinox has alre
2010 Mercedes S400 Hybrid – Click above for high-res image gallery
If you believe the rumors dusting up from L'Automobile Magazine, Nissan may be borrowing more than a small engine from Daimler. The French site is reporting that the two companies could be looking into sharing an entire platform in order to create a new Infiniti-badged