Margin headwinds in 'difficult times' for auto industry require job cuts and capped development spending, CEO Kallenius said at a strategy presentation.
Mercedes-builder Daimler anticipates its transition to electric vehicles will further squeeze profits until 2022, Bloomberg reported Thursday. The margin headwinds call for job cuts and capped development spending, CEO Ola Kallenius said at his first major strategy presentation since assuming the role in May. The costs associated with electric-vehicle development join trade-war hurdles and stricter European Union emissions laws as significant pressures against Daimler's future earnings.
Mercedes-builder Daimler anticipates its transition to electric vehicles will further squeeze profits until 2022, Bloomberg reported Thursday. The margin headwinds call for job cuts and capped development spending, CEO Ola Kallenius said at his first major strategy presentation since assuming the role in May. The costs associated with electric-vehicle development join trade-war hurdles and stricter European Union emissions laws as significant pressures against Daimler's future earnings.
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