Too early to discuss virus impact - Daimler chairman

Tuesday, 11. February 2020 14:18

Chairman of the Board of Management of Daimler AG Ola Kaellenius (pictured) stated on Tuesday that it is "too early" to say what kind of impact coronavirus might make on the company and the rest of the auto industry.

Speaking to CNBC, he asserted that Daimler decided to extend the Lunar New Year holiday for employees in China by one week to reduce risks associated with the outbreak. The restart of production in China plants started "cautiously" on Monday, he emphasized.

For the next two years, the focus of the German automaker will be placed on "restructuring and transformation," Kaellenius pointed out, stressing that the cost-cutting measures by the company are aimed to "strengthen profitability and unlock cash flow." Daimler is "on a path to CO2 neutrality," he concluded.

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Breaking the News / MS