Adrian Hallmark says despite spending millions to prepare for Brexit, the automaker could lose 20 to 25 percent of its profits if a trade deal is not reached.

The Mercedes maker will lose hundreds of millions of euros if the UK leaves the EU without a trade deal, Daimler boss Ola Kallenius said.

Swamy Kotagiri, a 21-year company veteran and current president of the Canadian supplier, will assume the top position on Jan. 1.

The automaker's plans for investing in U.S. factories come with two weeks left in the presidential election campaign.