Skip to main content
Sister Publication Links
  • Automotive News
  • Automobilwoche
  • Automotive News Canada
  • Automotive News China
Subscribe
  • Subscribe
  • Newsletters
  • Login
  • HOME
    • Latest news
    • Automakers
    • Suppliers
    • New Product
    • Environment/Emissions
    • Sales By Market
    • On The Move
    • Auto Shows
    • Munich Auto Show
    • Geneva Auto Show
    • Paris Auto Show
    • Beijing Auto Show
    • Shanghai Auto Show
  • Features
    • Long Read
    • Interview of the Month
    • Focus on Electrification
    • Focus on Technology
    • Segment Analysis
    • Cars & Concepts
    • Supplier Spotlight
    • Europe By The Numbers
  • Opinion
    • Blogs
    • Commentary
    • Guest columnists
  • Photos
    • Photo Galleries
    • Geneva Photo Gallery
    • Beijing Photo Gallery
    • Frankfurt Photo Gallery
    • Paris Photo Gallery
    • Shanghai Photo Gallery
  • Podcasts
  • Car Cutaways
  • EVENTS
    • ANE Congress
    • ANE Rising Stars
    • ANE Eurostars
    • Meet the 2021 winners
    • Browse photos from the 2021 awards ceremony
  • More
    • Publishing Partners
    • Social Media
    • Contact Us
    • Media Kit
    • About Us
    • Capgemini: Securing the industry's future through a radical rethink
    • Capgemini: Succeeding with the automated driving journey through AI
    • HEXAGON: Plugging into data is the only way to make winning EVs
    • TUV Rheinland: Battery testing center for large battery packs and more
    • TUV Rheinland: Ideas, services and certifications for smart mobility
    • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
    • Toyota Europe
    • UFI Filters
    • Facebook
    • Instagram
    • LinkedIn
    • Twitter
MENU
Breadcrumb
  1. Home
  2. Automotive News Europe
July 22, 2016 01:00 AM

Daimler accelerates Mercedes electric car plans

Edward Taylor
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    FRANKFURT -- Daimler has accelerated development of Mercedes-Benz electric cars, CEO Dieter Zetsche said, adding that he saw the vehicle segment gaining market share.

    "We are adjusting our planning in this field," Zetsche told analysts on Thursday during a call on second-quarter results.

    His remarks to analysts come as rivals Tesla Motors and Audi prepare their own push to ramp up premium electric cars.

    "It is very important to get the right timing," Zetsche said. "As a tendency, and as a trend, we have become more bullish in that regard."

    Daimler will reveal more about its plans for electric cars at the Paris auto show in October, he said.

    Daimler's Chief Development Officer Thomas Weber said last month that the automaker will display a prototype of an electric-powered Mercedes car with a 500-km (310-mile) range at the Paris show. It will go on sale before 2020, he said.

    On Thursday, Daimler reiterated it will increase spending in research and development, which it expects to be "significantly above" last year's 6.6 billion euros, which was already a step up from 5.7 billion invested in 2014.

    Daimler will invest in developing new low-emission and fuel-efficient engines, alternative drive systems, autonomous driving technology and a new generation of batteries.

    The company said the return on sales at Mercedes-Benz Cars had fallen to 6.4 percent in the second quarter, from 10.5 percent in the year-earlier period. Excluding one-off items like a charge to pay for a recall of vehicles equipped with potentially faulty Takata airbags, the division's return on sales would have been 10 percent, Daimler said.

    Investments to roll out new models, such as the latest Mercedes E class, dented the margin. But Zetsche believes an aggressive product push will help Mercedes overtake BMW to become the biggest selling luxury carmaker by sales.

    "We believe we can overtake BMW and Audi before 2020," Zetsche told German magazine Wirtschaftswoche.

    Last year, BMW retained the title of largest premium automaker posting sales of 1.91 million BMW-branded passenger cars while Mercedes sold 1.87 million cars, compared with a 3.6 percent jump to 1.80 vehicles sold by Audi.

    On a group level Daimler's second-quarter earnings before interest and tax (EBIT) fell 12 percent, as a 605 million euros one-off gain from the sale of stakes in Renault and Nissan failed to offset a charge of 400 million euros related to antitrust proceedings, a 244 million euros impairment on shares in BAIC Motor, and 241 million euros in losses from currency transactions.

    Nonetheless Daimler said it was sticking to forecasts for slightly higher EBIT in 2016 and significant growth for unit sales.

    RECOMMENDED FOR YOU
    Mercedes Central, Eastern Europe boss von Kleinsorgen to speak at Automotive News Europe Congress
    Recommended for You
    Wolfgang Bremm von Kleinsorgen Mercedes web
    Mercedes Central, Eastern Europe boss von Kleinsorgen to speak at Automotive News Europe Congress
    Riccardo Ferrario Idra web 2022
    Riccardo Ferrario of Giga Press maker Idra to speak at Automotive News Europe Congress
    Guido Dumarey Punch
    Punch CEO Guido Dumarey to speak at Automotive News Europe Congress
    Sign up for free newsletters
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    Get Free Newsletters

    Sign up and get the best of Automotive News Europe delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    SUBSCRIBE TODAY

    Get 24/7 access to in-depth, authoritative coverage of the auto industry from a global team of reporters and editors covering the news that’s vital to your business.

    SUBSCRIBE NOW
    Connect with Us
    • Twitter
    • Facebook
    • LinkedIn
    • Instagram

    Founded in 1996, Automotive News Europe is the preferred information source for decision-makers and opinion leaders operating in Europe.

    Contact Us

    1155 Gratiot Avenue
    Detroit MI  48207-2997
    Tel: +1 877-812-1584

    Email Us

    ISSN 2643-6590 (print)
    ISSN 2643-6604 (online)

     

    Resources
    • About us
    • Contact Us
    • Advertise with us
    • Advertise with Us
    • Ad Choices Ad Choices
    • Sitemap
    Awards
    • Rising Stars
    • Eurostars
    • Leading Women
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Automotive News Europe
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • HOME
      • Latest news
      • Automakers
      • Suppliers
      • New Product
      • Environment/Emissions
      • Sales By Market
      • On The Move
      • Auto Shows
        • Munich Auto Show
        • Geneva Auto Show
        • Paris Auto Show
        • Beijing Auto Show
        • Shanghai Auto Show
    • Features
      • Long Read
      • Interview of the Month
      • Focus on Electrification
      • Focus on Technology
      • Segment Analysis
      • Cars & Concepts
      • Supplier Spotlight
      • Europe By The Numbers
    • Opinion
      • Blogs
      • Commentary
      • Guest columnists
    • Photos
      • Photo Galleries
      • Geneva Photo Gallery
      • Beijing Photo Gallery
      • Frankfurt Photo Gallery
      • Paris Photo Gallery
      • Shanghai Photo Gallery
    • Podcasts
    • Car Cutaways
    • EVENTS
      • ANE Congress
      • ANE Rising Stars
        • Meet the 2021 winners
      • ANE Eurostars
        • Browse photos from the 2021 awards ceremony
    • More
      • Publishing Partners
        • Capgemini: Securing the industry's future through a radical rethink
        • Capgemini: Succeeding with the automated driving journey through AI
        • HEXAGON: Plugging into data is the only way to make winning EVs
        • TUV Rheinland: Battery testing center for large battery packs and more
        • TUV Rheinland: Ideas, services and certifications for smart mobility
        • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
        • Toyota Europe
        • UFI Filters
      • Social Media
        • Facebook
        • Instagram
        • LinkedIn
        • Twitter
      • Contact Us
      • Media Kit
      • About Us