Daimler Accused of Bribing Russians
Saturday 19th of May 2012 04:45:23 AM
Posted by admin / Under Daimler 250
| Daimler Accused of Bribing Russians 25 March 2010 By Maria Antonova German carmaker Daimler paid more than 3 million euros ($4 million) in bribes to Russian government officials, largely to secure the sale of cars to the police and Federal Guard Service, the agency that provides transportation for Russian and visiting dignitaries, the U.S. Justice Department said in a lawsuit. The maker of the Mercedes sedans favored by top officials "made improper payments at the request of Russian government officials or their designees in order to secure business from Russian government customers" between 2000 and 2005, when government purchases comprised... |
Daimler grabs Tesla stake in electric-car push
Saturday 19th of May 2012 04:45:23 AM
Posted by admin / Under Daimler 250
| German automotive giant Daimler has invested in electric-car company Tesla Motors and plans to use Tesla's battery packs in its Smart electric car due later this year. At a Tuesday press conference held at the Daimler museum in Stuttgart, Germany, Tesla CEO Elon Musk and Daimler management board member Thomas Weber said the contract between the two companies calls for joint collaboration on the Smart electric car and future models. |
Daimler to give up Chrysler stake
Saturday 19th of May 2012 04:45:23 AM
Posted by admin / Under Daimler 250
| German carmaker Daimler has reached a deal to give up its 19.9% stake in Chrysler, the company has said. The deal, which will also see Daimler forgive Chrysler's outstanding loans, marks a definitive separation of the German and US firms, Daimler said. Daimler bought Chrysler in 1998 but sold most of the loss-making unit to Cerberus Capital Management in 2007. Earlier, Chrysler announced a cost-cutting deal with its main US union as it tries to restructure its business. The struggling Detroit carmaker has until 30 April to complete its restructuring in order to gain further state loans, without which it... |
Daimler opens office in Baghdad, Iraq
Saturday 19th of May 2012 04:45:23 AM
Posted by admin / Under Daimler 250
| As a small step that could be considered a healthy vote of confidence in Iraq's return to stability, Mercedes has established a corporate representative office in Baghdad. Daimler set up shop in Erbil, Iraq last February, opening a training center that would get mechanics ready for coming Mercedes products. By installing a corporate representative, the company will have someone on the ground to figure out how best to introduce new Mercedes products to the country. The rep will focus on examining and developing the market for trucks and buses, which Daimler should have all to itself for a while. |
Daimler to suspend production for one month: report
Saturday 19th of May 2012 04:45:23 AM
Posted by admin / Under Daimler 250
| BERLIN (AFP) – German carmaker Daimler, hit by falling demand amid the global financial crisis, plans to suspend production for a month beginning in December, a newspaper said in report due to appear Sunday. The break in production would begin on December 11 and last until January 12, Frankfurter Sonntagszeitung reported, citing a company spokesman. Daimler, the first luxury car maker to present its quarterly results, unveiled big falls in profits on Thursday and issued a new profit warning owing to the global banking crisis. "The financial crisis is turning into an economic crisis," Daimler chairman Dieter Zetsche told a... |
GM, Daimler, Honda Betting on Hydrogen Fuel Cells
Saturday 19th of May 2012 04:45:23 AM
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| GM, Daimler, Honda Betting on Hydrogen Fuel Cells Posted: Apr. 08, 2008 10:04 a.m. Car and Driver reports, “Fuel-cell vehicles -- where hydrogen is converted to electricity onboard and there are no emissions -- are real today and even more feasible tomorrow under a carefully scripted development plan at General Motors that culminates in as many as one million affordable FCVs by 2020.” GM has nearly completed development on a fuel cell propulsion system “that has been reduced to half the size for half the materials, less weight, and less cost” that previous models. “The next-gen fuel-cell stack will hit... |
Daimler expects huge US demand for tiny Smart car
Saturday 19th of May 2012 04:45:23 AM
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| German car maker Daimler said Tuesday that next month's launch of its tiny Smart car in the United States will unleash such stiff demand the company will have trouble meeting it. We will not be able to meet demand thus far" for 2008, Daimler chairman Dieter Zetsche said here at a news briefing. More than 30,000 US customers have put down 99-dollar deposits to reserve one of the fuel-saving, two-seat Smart Fortwo, which will begin arriving in the massive US market in January, he said. "Down payments are going far beyond the production capacity we have," the chairman said,... |
(FORBES PICKS) The Year's Poorest-Performing Cars
Saturday 19th of May 2012 04:45:23 AM
Posted by admin / Under Daimler 250
| Whether it's the tried-and-true Butterball, the more enigmatic Tofurkey or pricey "pastured" birds, turkey is simply what we eat for Thanksgiving. But we've come to know another type of turkey--vehicles that, for some reason or another, have been problematic or simply haven't found their place in the market. Most have make-or-break issues with shoppers: recalls, reliability, resale value and safety. In compiling our fourth annual list of "Automotive Turkeys," we looked at four factors, all pertaining to 2007 model-year vehicles: number of recalls to date, according to the National Highway Traffic Safety Administration (NHTSA) database; reliability ratings from Consumer Reports;... |
Daimler pays to dump Chrysler
Saturday 19th of May 2012 04:45:23 AM
Posted by admin / Under Daimler 250
| NEW YORK (CNNMoney.com) -- DaimlerChrysler moved to undo the most expensive and one of the least successful mergers in auto industry history Monday as it agreed to essentially pay to dump the money-losing Chrysler unit which it paid $37 billion for nine years ago. DaimlerChrysler (Charts) announced it will sell an 80 percent stake in its U.S. brand to Cerberus Capital Management, a private equity investment firm that will pay $7.4 billion. But the German automaker, which will be renamed simply Daimler, will not actually get most of the money that Cerberus is paying for the once proud automaker. Instead... |
Disgruntled investors seek Chrysler spin-off [From Daimler-Benz]
Saturday 19th of May 2012 04:45:23 AM
Posted by admin / Under Daimler 250
| STUTTGART/FRANKFURT, Nov 28 (Reuters) - Growing ranks of shareholders in DaimlerChrysler are calling for a spin-off of loss-making U.S. arm Chrysler, which they say is dragging down the group and damaging management's credibility. But that pits them directly against Chief Executive Dieter Zetsche and his executive team, who remain determined to hang on to Chrysler and restore it to profit. "I would welcome a separation of Daimler from Chrysler," said Ingo Speich, portfolio manager for car stocks at German fund manager Union Investment, which with nearly 14 million shares is among the biggest German investors in the group. "Cooperation between... |
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