Daimler to cut costs, invest in electric, self-driving cars

Tuesday, 03. March 2020 18:45

Daimler AG board member Markus Schaefer announced on Tuesday that Mercedes-Benz is planning cost cuts that could see entire engine families and platforms scrapped.

During a conference call set up to replace a canceled roundtable discussion at the Geneva car show, Schaefer said the company would review its current lineup and streamline the portfolio, with the aim to free up cash to build electric and self-driving cars.

Planned cost-cutting measures could include reducing entire platforms and powertrains, not only variations of cars, Schaefer said.

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