Renault-Nissan Alliance and Daimler AG have now announced joint development of premium compact vehicles and joint production in Mexico in expanding their cooperation. Renault-Nissan CEO Carlos Ghosn and Daimler CEO Dieter Zetsche announced the 50:50 JV earlier today.
Daimler: Net profit almost doubles in first quarter of 2014. Total unit sales of 565,800 vehicles at record level in first quarter. Revenue up by 13% to €29.5 billion Disproportionately high increase in Group EBIT to €1,787 million (Q1 2013: €917 million). Net profit of €1,086 million (Q1 2013: €564 million). Significant growth in unit sales and revenue expected. Group EBIT from ongoing business anticipated to be significantly higher than in 2013. Dr. Dieter Zetsche: “Our strategy is paying off; our investments are bearing fruit. We made a good start to the year, as expected.”
Daimler AG and Rolls-Royce plc today announceed their agreement to the valuation of Daimler’s 50% equity interest in the Rolls-Royce Power Systems Holding Ltd JV. The fair market value of Daimler’s shares due to be acquired by Rolls-Royce are valued at EUR 2.43 billion. With a transaction expected this year, the matter is subject to usual regulatory approvals and Daimler will recognize the financial impact at the time of closing.
Daimler enters new territory by tapping capital market in China with issue of first bond of 500 million renminbi. The bond is issued with a one-year maturity. Daimler is the first foreign company to issue a bond with a volume of 500 million renminbi (equivalent to 60 million euros) and a maturity of one year.
Stuttgart – Daimler AG (ticker symbol DAI) is to sell its 50-percent equity interest in the joint venture Rolls-Royce Power Systems Holding Ltd. (RRPSH) to its partner Rolls-Royce plc. Daimler is making use of a put option on its stake in RRPSH that was agreed upon with Rolls-Royce in 2011.
Daimler and Volvo are anticipated to lead in use of V2V communication systems across Europe: Frost & Sullivan
Vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication systems are seeing a rise in demand due to its ability to improve traffic efficiency, mobility, safety, driving conditions, and avert potentially dangerous situations. New analysis from Frost & Sullivan. It’s expected 40% of vehicles will use V2V communication technologies by 2030.
2013 has been difficult for the Indian truck market with almost 30% sales decline until November end. Despite an economic downturn, Indian Daimler Trucks brand, BharatBenz, which has only just set shop has climbed to 4th spot in India’s medium-duty and heavy-duty truck segment.
With greater emphasis on Information Technology, a new Global Service Center for SAP and non SAP systems has been established by Daimler at Bangalore, India. This new Center will offer employment to a total of 800 employees by the year 2015.