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Daimler AG says it has lost €1.2 billion ($1.3 Billion) in quarter two 2019. This is the company's first quarterly loss since 2009. Daimler says the primary causes for the loss are airbag recalls and lawsuits and investigations regarding its diesel engines. U.S. and European regulators have gone after diesel engine emissions after Volkswagen AG was caught in 2015 with cheat software in their engine control computers. The fallout has caused Daimler and other manufacturers to recall those vehicles and update the engine control software. Daimler has previously announced cost cutting efforts, including laying off up to 10,000 employees globally. Further cost cutting efforts are pending, however, Daimler declined to comment on such measures until an investor presentation in November. The company did say that it would be reviewing its product portfolio and cutting where needed. Models that have already seen cuts are the Mercedes-Benx X-Class truck and the Mercedes Benz SLC. View full article -
Daimler AG says it has lost €1.2 billion ($1.3 Billion) in quarter two 2019. This is the company's first quarterly loss since 2009. Daimler says the primary causes for the loss are airbag recalls and lawsuits and investigations regarding its diesel engines. U.S. and European regulators have gone after diesel engine emissions after Volkswagen AG was caught in 2015 with cheat software in their engine control computers. The fallout has caused Daimler and other manufacturers to recall those vehicles and update the engine control software. Daimler has previously announced cost cutting efforts, including laying off up to 10,000 employees globally. Further cost cutting efforts are pending, however, Daimler declined to comment on such measures until an investor presentation in November. The company did say that it would be reviewing its product portfolio and cutting where needed. Models that have already seen cuts are the Mercedes-Benx X-Class truck and the Mercedes Benz SLC. -
Daimler EQ EV Onslaught of Trademarks Daimler filed this week multiple trademarks on top of a large amount at the end of last week in regards to their EQ electric auto line up. This also covers the EQC which is for the electric crossover versions. Seems according to Wolfgang Wurth, we will see an EQA, EQB, EQE and EQS in the car lineup. Then we have the EQC lineup of Crossovers. Then you have the latest filing for a new AMG Performance Unit which is clearly defined as an Electric vehicle. Daimler also has like BMW stated they will have wireless charging pads that can charge 100 kilometers every 5 minutes which is 62 miles for those understanding standard only. This means a 20 min to recharge the 400 kilometer or 248 miles battery pack. Yet with this news of Daimlers world wide push on the EV front with their EQ product line you have the opposite news from Fortune that Chery auto manufacturing of China has filed a complaint with the Chinese trademark office about Mercedes-benz use of the EQ as it is too similar to their eQ that they have used for the last couple of years. If Chinese trademark bars Daimler from using the EQ name in China, this could throw wrinkles in Daimlers plan to have a world wide EQ EV auto brand that is global and not end up having to deal with multiple names. The future is a disruptive one that will be interesting to watch as we truly hit a global platform of selling products. Justia Trademarks site The Drive Story Daimler EQ site Fortune Story
