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DAIMLER AG

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Daimler supervisory board signs off 60 billion euro investment plan for Mercedes-Benz

12/02/2021 | 12:03pm EST
FILE PHOTO: Frankfurt hosts the international Motor Show (IAA)

BERLIN (Reuters) - Daimler's supervisory board signed off an investment plan worth over 60 billion euros ($67.88 billion) for Mercedes-Benz Cars & Vans between 2022 and 2026, the company said on Thursday.

The statement, issued a week before the Cars & Vans division splits off from Daimler Truck & Buses on December 10, said that the luxury vehicle maker aims to be at the forefront of electric vehicle production and software following the listing.

Existing plans announced in October of 2020 to reduce capital expenditure by 20% from 2019 levels by 2025 remain in place, the statement said, with new spending focused on electrification, digitalisation and autonomous driving.

Increasing net revenue per vehicle and implementing a direct sales models formed part of this strategy, it said, adding that advances in battery technology and production should help reduce the cost of battery-electric vehicles over time.

($1 = 0.8839 euros)

(Reporting by Victoria Waldersee; Editing by Michael Nienaber)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DAIMLER AG 0.07% 70.53 Delayed Quote.4.32%
DAIMLER TRUCK HOLDING AG -2.60% 32.435 Delayed Quote.2.46%
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Sales 2021 132 B 148 B 148 B
Net income 2021 12 660 M 14 205 M 14 205 M
Net cash 2021 17 729 M 19 892 M 19 892 M
P/E ratio 2021 6,06x
Yield 2021 6,31%
Capitalization 75 434 M 85 111 M 84 639 M
EV / Sales 2021 0,44x
EV / Sales 2022 0,37x
Nbr of Employees 289 282
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Number of Analysts 23
Last Close Price 70,51 €
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Ola Kńllenius Chairman-Management Board
Harald Emil Wilhelm Chief Financial Officer
Bernd Pischetsrieder Chairman-Supervisory Board
Markus Schńfer Chief Operating Officer
Clemens A. H. B÷rsig Member-Supervisory Board
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