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Showing results for tags 'Daimler'.
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https://uk.motor1.com/news/542379/ssangyong-to-be-sold-260million/ "SsangYong to be sold for only £188 million It wasn't a buttery smooth ride for the South Korean automaker. SsangYong is reportedly getting a fresh start, thanks to a six-year-old electric vehicle startup. The South Korean automaker filed for bankruptcy in December 2020 and is currently under court receivership. According to Nikkei Asia, SsangYong named an Edison Motors-led tie-up as its preferred bidder. The deal is said to be worth around $260 million,(approx. £188 million) according to the publication's sources. The automaker and the bidder are expected to finalise and ink a corporate agreement towards the end of November. Edison was founded in 2015 and is known to make electric buses and develop commercial trucks. Its interest in SsangYong can be attributed to its intention to penetrate the passenger vehicle market, with the aim to mass-produce passenger EVs in the automaker's factory in Pyeongtaek. To say that SsangYong Motor has a smooth-sailing corporate life would be blatant lie. Starting its life in 1986, South Korea's fourth-largest automaker began its world-renown in 1991 with its high-profile partnership with Daimler, enabling it to develop an SUV with Mercedes-Benz technology. Then in 1997, Daewoo bought a controlling stake at SsangYong. That was short-lived as Daewoo then sold off its shares. Chinese automaker SAIC bought a 51 percent stake of SsangYong in 2004. In 2009, the company reported a $75.42 million (£54.63 million) loss, putting the company under court receivership. Mahindra & Mahindra took over the company in 2011, costing the Indian company $463.6 million (£335.8 million). And while it looked like the Korean automaker was back on its feet during its time with Mahindra, it could not recover completely, which led to its current debt-laden state today. SsangYong isn't about to give up despite its long trail of troubles. The company has announced a design concept called the X200 showing its intention to capitalise on the rising tide of boxy SUVs."
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https://edition.cnn.com/2019/06/23/business/daimler-earnings-expectations/index.html New York (CNN Business)Daimler, the German auto company that makes Mercedes-Benz, has slashed its 2019 profit expectations by hundreds of millions of euros. The financial downgrade, announced Sunday, is the latest fallout from the diesel emissions scandal that has rocked the German auto industry. The company said that "various ongoing governmental proceedings and measures relating to diesel vehicles" will affect the company's second quarter earnings. It said it expects an increase in expenses related to those proceedings. Daimler said its profit for 2019 will be close to last year's level. Shares in the carmaker declined 3.6% in Frankfurt on Monday. The stock has dropped nearly 20% from a recent high in April. German automakers have faced years of scrutiny regarding harmful emissions that diesel vehicles produce. That scrutiny stems from a 2015 admission by another German automaker — Volkswagen (VLKAF) — that it rigged millions of diesel engines to cheat on emissions tests. The revelation trashed confidence among consumers and regulators in diesel technology and cost Volkswagen tens of billions of dollars in recalls, legal penalties and settlements. ****** Lets see if there is a large an outcry from merc owners. Will the resale value drop and what will the second hand car dealer use. Merc no resale value. Buyer dont want to be associated with a brand with low integrity ?
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Uber drivers are not allowed to deduct any expenses, even petrol, right? So they are basically paying income tax on their entire revenue? I understand that most Uber drivers do it as a side business. But is it possible for a full time uber driver to make more than a full time taxi driver (after tax)? For comparison sake, assuming the exact same trips on the exact same day and exact same time, just one is taxi, one is uber. Can commercial vehicles be used for Uber? Eg. P-plate passenger vehicles, as well as double-cabin goods vehicles? Also, is Grab abusing the Research and development vehicle scheme? I see a lot of RD-plate Grab vehicles on the road carrying passengers. They have many of these RD-plate Grab vehicles parked at their rental place in Jalan Pemimpin. Is Grab abusing this scheme so as to deduct their expenses and pay less tax?
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Why? Because they don't need to queue or make appointment for servicing at SC. Every single owner is the only buyer in 2012....song! http://www.lta.gov.sg/content/dam/ltaweb/c...egn_by_make.pdf
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[extract] Nearly two years ago, Daimler and China
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[extract] Daimler may have fallen behind its German rivals, namely Audi and BMW, in terms of profitability but it would not go down the road of reducing its workforce in an attempt to narrow the gap. "I see no reason to look exclusively at personnel when it comes to increasing efficiency," said Mr Wilfried Porth, Daimler
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[extract] It seems that Daimler AG, parent company of Mercedes Benz is getting fed up with the low sales of Maybach, the supposedly luxury brand of the group. Somehow the rich have not been snapping up Maybachs like hotcakes. The wealthy seem to prefer the traditional Rolls Royce and Bentley models rather than choose a Maybach and Daimler AG isn
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Previewing a possible expansion to the world of two wheels in the very near future, Daimler's Smart division will showcase a scooter concept at the Paris motor show. The electrically driven 'escooter' uses a 48-volt lithium-ion battery pack placed behind the paneling in the foot area and is capable of traveling up to 100 kilometers on a single charge. The company says the batteries can be fully recharged through any standard household power socket within three to five hours. The charging socket is located at the front of the scooter underneath a hinged smart emblem. Smart's two-wheel study is driven by a disc-shaped wheel hub motor in the rear wheel, which offers an output of 4 kW (equal to 5.3-horsepower), allowing the scooter to reach a top speed of 45 km/h. Technical highlights include the use of an anti-lock braking system (ABS) specially adapted for a two-wheeler, an airbag integrated in the paneling under the handlebars, and Blind Spot Assist which draws the rider's attention to vehicles following close behind but are not visible in the blind spot of the rear-view mirrors. Another cool feature is the Smartphone that is placed in the centre of the handlebars. It replaces the traditional instrument panel and provides information on speed, range, battery charge level and even acts as a navigation system.
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It looks like the bribery fiasco for Daimler is far from over. After making a settlement worth US$185 million in April following a law suit that was brought forward by the US Justice Department and the Securities and Exchange Commission, and being charged for the a similar crime in Egypt, Daimler now faces the same scenario in Nigeria. Just like the previous cases, the case launched by Nigeria
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by Eric Loveday (RSS feed) It seem like just a few days ago BMW came forth stating that its use of carbon fiber on upcoming vehicles would become a high-volume deal. Now Green Car Advisor reports that Daimler, never willing to be a step behind, has also announced plans to increase its investment in the material. Daimler has enlisted the help of Toray Industries, a Japanese textile company, to help make carbon fiber body parts for Mercedes-Benz vehicles beginning in 2012. The parts will reduce vehicle weight and help the company meet upcoming CAFE regulations. The first Mercedes product to be adorned with carbon fiber will be the SL-Class. Daimler choose Toray Industries due to its expertise in carbon fiber. Though not a common name to many, Toray is actually the dominant force in the industry, controlling 34 percent of the global market. This will be Toray's first venture into making car parts out of carbon fiber. The company's current automotive-related experiences with the material has been limited to supplying carbon fiber yarns to Ferrari and various aftermarket companies. Daimler and Toray will work together on development of the carbon fiber reinforced plastic body parts and production will be carried out at a Toray facility in France. -
With pressure mounting on Iran to halt its nuclear weapons program, Daimler is reportedly joining the growing list of businesses
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At a news conference in Brussels, Belgium, Daimler AG and the Renault-Nissan alliance officially announced that the three automakers would collaborate on future products and that each would exchange shares in the other companies. The deal has been rumored for months, and Daimler has been looking for a partner to help spread the costs of small car development for years. Under the new agreement, Daimler will hold a 3.1-percent stake in Renault and Nissan and the existing alliance partners will hold an identical stake in the German company. The partners will develop a combined platform that will be used as the basis for the next generations of the Renault Twingo and Smart cars, including a new four-seater. These new models will be launched in 2013 and the current Smart factory in France will continue building the two-seat version. The new four-seater, along with the Twingo, will be built at a Renault factory in Slovenia. All three vehicles will be available from launch in gas, diesel and electric drive variants. The automakers will also share powertrains for the other models. Renault-Nissan will provide small gas and diesel engines to Daimler for use in its smaller cars, including presumably the next generation A, B and perhaps even C-Class Mercedes-Benz models. Going the other way, Daimler will provide some of its engines to Nissan for use in Infiniti models. The partners will also collaborate on light commercial vehicles, with Renault providing a new entry-level van to be sold as a Mercedes. Sharing of components and technology among automakers could be the way moving forward to reduce production cost. However, this may lead to a lack of product variety eventually.
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At a news conference in Brussels, Belgium this morning, Daimler AG and the Renault-Nissan alliance officially announced that the three automakers would collaborate on future products and that each would exchange shares in the other companies. The deal has been rumored for months, and Daimler has been looking for a partner to help spread the costs of small car development for years. Under the new agreement, Daimler will hold a 3.1-percent stake in Renault and Nissan and the existing alliance partners will hold an identical stake in the German company. The partners will develop a combined platform that will be used as the basis for the next generations of the Renault Twingo and Smart cars, including a new four-seater. These new models will launch in 2013 and the current Smart factory in France will continue building the two-seat version. The new four-seater, along with the Twingo, will be built at a Renault factory in Slovenia. All three vehicles will be available from launch in gas, diesel and electric drive variants. The automakers will also share powertrains for other models. Renault-Nissan will provide small gas and diesel engines to Daimler for use in its smaller cars, including presumably the next generation A, B and perhaps even C-Class Mercedes-Benz models. Going the other way, Daimler will provide some of its engines to Nissan for use in Infiniti models. The partners will also collaborate on light commercial vehicles, with Renault providing a new entry-level van to be sold as a Mercedes.
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Daimler, the German giant behind the Mercedes-Benz automotive and truck business, has pleaded guilty to corruption charges brought by the U.S. Justice Department and Securities and Exchange Commission (SEC) and agreed to pay $185 million in penalties for its bribery practices. In a 76-page filing in federal court, U.S. prosecutors said between 1988 and 2008, Daimler paid at least US$56 million in bribes to foreign officials in at least 22 countries that included China, Russia, Egypt, Greece and Nigeria. Among others, the SEC said that Daimler spent
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According to a recent report, Nissan and Daimler are discussing swapping engines and electric vehicle technology. While details are limited, Japan's Nikkei business daily said Nissan wants "large" engines from Daimler. In exchange, Nissan would provide Daimler with electric vehicles, batteries, and/or equity. The paper added Daimler is already in talks with Renault, so discussions would likely be expanded into three-way negotiations. Later this week, Renault-Nissan CEO Carlos Ghosn will brief executives on the details of the proposed partnership talks. If everything goes according to plan, three-way negotiations will occur shortly. The report also stated Daimler is eager to reach a deal before their general shareholders meeting on April 14. While no reason was cited, the paper said Daimler wants to be cautious about entering another capital tie-up.
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Have all business ethics gone down the drain lately? It seems that Toyota isn't the only Auto powerhouse that gets involved in shady business practices. The Detroit News reports that Mercedes-Benz's parent company, Daimler AG, has paid tens of millions in the form of bribes to governments and/or officials of twenty-two countries. The Justice Department has officially charged the manufacturer with violating the Foreign Corrupt Practices Act, which prevents U.S. firms from paying off foreign officials. Between 1998 and 2008, Daimler is said to have been "investing" in countries such as China, Croatia, Egypt, Greece, Hungary, Indonesia, Iraq, Ivory Coast, Latvia, Nigeria, Russia, Serbia and Montenegro, Thailand, Turkey, Turkmenistan, Uzbekistan, and Vietnam with the intent of securing contracts with government customers for the purchase of Daimler vehicles valued at hundreds of millions of dollars. Investigators reportedly traveled to 25 countries and interviewed dozens of people, including former Daimler chairman Juergen Schrempp and other executives. In the process, secret bank accounts were uncovered. However, to Daimler's credit, executives were released when it discovered that some improper transactions were made in Asia, Africa and Eastern Europe. According to Reuters, The charges consist of two counts - conspiracy, and falsifying books and records under the Foreign Corrupt Practices Act. Diamler is expected to be slapped with a $185 - 200 million fine as a result of these charges. Well, I guess greed is the root cause of all these unethical practice. Even charitable organisations are making headlines for all the wrong reasons in Singapore.
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Breaking news! Any comment? http://www.reuters.com/article/idUSTRE62M3TK20100323
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The U.S. Justice Department and the Securities and Exchange Commission (SEC) will fine Daimler $185 million dollars (
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Hi guys, I was looking through this list.. http://www.geocities.com/tokyo/2077/carprice.html Does anyone know the difference between daimler 4.0 LWB and jaguar XJ LWB, other than a 4L and 3.2L? Is daimler a copycat of jaguar?
