Daimler IPOs the truck business until the end of 2021
Two fully independent companies appear
Cashing out💲 and mitigating the risk of an ICE business with no future when the Semi hits
CEO Källenius " a historic moment"
Head of Daimler Supervisory Board, Bischoff
"The benefits of splitting are obvious,"
"Capital markets" would "appreciate the opportunity to invest in more clearly focused 'pure-play' companies." manager-magazin.de/finanzen/boers…
CEO Källenius
"Mercedes-Benz is the most valuable luxury car brand" 🤨
"Daimler Truck provides customers with a variety of industry-leading transportation solutions and services."
Head of Daimler Advisory Board, Brecht
"The transformation of our industry is advancing rapidly. To keep pace we need to be bolder and faster in investing in innovation"
A €1.5bn innovation fund is planned
"This brings additional prospects for our sites & secures employment"
In addition, Brecht the head of the works council stresses, the so-called "safeguarding of the future" remains in force, which assures Daimler employees in Germany of employment until the end of the decade. faz.net/aktuell/wirtsc…
What Daimler is doing by splitting into two independent companies is shrinking & searching for a profitable niche
The cash generated by IPO is urgently needed but won't last for long
The truck business may be acquired or will go out of business
Passenger cars focus on luxury
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Cumulated Innovation power in 🔋Tecnology 2012-2020
Source: CAM
CAM calculates the battery innovation strength with an index value. Innovations in e-mobility in series production are evaluated in the areas of range, consumption, and charging performance.
While VW improved by 37 index points, Tesla by 45
Tesla innovates faster than anybody!
Daimler and BMW with rank 11 and 13 are losing contact to top innovators and with that will lose their market position
Lagging behind in 🔋 innovation is the beginning of the end
Some wonder that Tesla get funding although its not a European company
Economy Minister Altmaier
"More than two-thirds of our funding goes to companies that have always been here and are producing"
Altmaier continues
"But - and this is the basis of my discussions with Elon Musk, which take place annually"
"the principle of equal treatment, that is respected"
Federal Minister Altmaier
"Companies like CATL didn't get a contract because they couldn't demonstrate that they were bringing research and development activities to Europe. And that this project is innovative,"
VW Software issues remain not only with BEVs but also with ICE vehicles
56k of the new Golf 8 are called back
8 severe issues are reported
Infotainment, Navigation, Display, Backward Camera, AC a.o.
Osterloh about the Golf
"Order volume is there"
"When semiconductor replenishment starts working again and the drop in Corona numbers leads to showrooms reopening, we'll talk about making up volume (we lost due to part shortages) via extra shifts"
It looks like BEVs are not as high in demand as VW claims them to be
Osterloh
"With the Golf in particular, we have the highest order backlog in the entire Group. We have a three-month order range." automobilwoche.de/article/202102…
Byton's CEO the former BMW manager Daniel Kirchert has according to media reports fled to Hong Kong and is the subject of an arrest warrant issued by the Munich public prosecutor's office for delaying insolvency proceedings
Byton (is) 4 years in business and has not sold a single-vehicle
60k pre-orders have been made according to Kirchert for the M-Byte and the planned production start was in autumn 2020
Salaries hasn't been paid since month to the 70 employees in Germany
The Munich I public prosecutor's office is also said to have issued a warrant for Kirchert's arrest on charges of delaying insolvency proceedings