Tag: Daimler

Daimler reports second-quarter 2019 results

STUTTGART, Germany, July 24, 2019 /PRNewswire/ — Revenue up 5% to €42.7 billion (Q2 2018: €40.8 billion) Group EBIT of minus €1.6 billion (Q2 2018: plus €2.6 billion) Net loss of €1.2 billion (Q2 2018: net profit of €1.8 billion) Portfolio review and efficiency programs intensified Significant improvement of EBIT and free cash flow in… Continue reading Daimler reports second-quarter 2019 results

Daimler and Bosch obtain approval for world’s first SAE level 4 driverless valet parking

BERLIN, July 23 (Xinhua) — Carmaker Daimler and Germany's largest automotive supplier Bosch have obtained the official approval for an automated valet parking system in the Mercedes-Benz museum parking garage in the city of Stuttgart, the two companies announced on Tuesday.
The project was supervised by experts of the technical inspection association TUEV Rheinland and would be the world's first fully automated driverless parking function according to SAE Level 4 “to be officially approved for everyday use”, Daimler and Bosch stated.
Autonomous driving according to SAE level 4 enables a car to drive without a driver in a geographically defined area such as the parking garage in the pilot project of Bosch and Daimler.
“Driverless driving and parking are important building blocks for tomorrow's mobility,” said Markus Heyn, chief executive officer (CEO) of Bosch.
For the pilot project, Bosch is providing the infrastructure and sensors installed into the parking garage whil..

BAIC acquires stake in Daimler

China’s BAIC Group has acquired a 5 percent stake Mercedes-Benz owner Daimler AG, the State-owned company announced on Tuesday.Daimler also owns 9.55 percent stake in BAIC.In early 2018, Zhejiang Geely Holding Group acquired 9.7 percent of the German carmaker, becoming its largest shareholder in the world.

Tuesday Morning Auto News, Jul 23, 2019

Disruption, corruption loom over UAW union talks with Big Three Detroit automakers – CNBC: Uncommon issues during this year’s talks include technological changes threatening traditional union jobs and an ongoing federal corruption probe that has already led to eight convictions.
Tesla’s ‘Anemic’ High-Margin Model Sales Extends Profit Struggle – Bloomberg: Tesla Inc. is delivering more cars than ever because of the emergence of Model 3 customers like Mike Land. His view of the relative weakness of Elon Musk’s …
Daimler and Bosch get green light for ‘world’s first’ automated valet parking system – CNBC: Daimler said that the system was the “world’s first fully automated driverless SAE Level 4 parking function to be officially approved for everyday use.”
Once Feared Dead, Globalization Is Still Very Much Alive – Bloomberg: Car failure | Germany’s Continental AG cut its earnings outlook as the car-parts giant emerges as the latest industrial victim of trade woes tied to …

Ford faces lawsuit over allegations of false mpg ratings – Automotive News: The federal lawsuit seeks class-action status and follows two other lawsuits in consecutive months over the same issue in Ford Ranger trucks.
Continental’s Warning on Car Slump Shows Reality Is Hitting Home – Bloomberg: Continental joined French car-parts supplier Faurecia SA — which is … As part of a broader overhaul to brace for the industry’s shift to self-driving and …
All-electric Ford-150 is revealed – The Detroit News: Linda Zhang, chief engineer of the Ford F-150, shows the capability of a prototype all-electric F-150 by towing 10 double-decker rail cars and 42 2019-model year F-150s, weighing more than 1 million pounds
Germany’s Continental, Jungheinrich hit brakes as auto sector slows – Reuters: A slowing auto sector prompted profit warnings from supplier Continental and paint systems producer Duerr late on Monday.
Apple hires another Tesla engineer – Automotive News: Apple has hired Steve MacManus, at least the third Tesla engineering executive to join the technology giant in the last year. MacManus, a Tesla vice …
AMS re-opens door on Osram bid as recovery continues – Reuters: Apple supplier AMS (AMS. … VCSELs, used in the auto industry, are an infrared laser technology that helps to provide a large field …
France’s Faurecia holds course in ‘tougher than expected’ auto market – Reuters: French auto parts maker Faurecia (EPED.PA) said it maintained first-half profitability despite a China-led decline in auto production, …
China Sees Something in Daimler We’ve All Missed – Bloomberg: The company’s shares are still struggling to recover from an emissions scandal. But Asian suitors are interested in its electric-vehicle future.
Semiconductor supplier STMicroelectronics sees big gains from electrification shift – Automotive News: We recently shipped the first prototypes of the EyeQ5 chip for Level 4 autonomous driving applications, with mass production expected in 2020.
Seat’s Cupra teases high-performance EV – Automotive News: The production version is likely to use Volkswagen Group’s MEB electric architecture, which will underpin EVs for the VW, Audi, Seat and Skoda …
Beijing Auto Buys Stake in Daimler, Deepening Their Alliance – New York Times: The deal will tighten the German automaker’s ties to China, which has become an important market but where overall sales are falling.
The Robot Apocalypse Has Been Postponed – New York Times: The delay of self-driving cars is another sign that stagnation still trumps acceleration.
China’s BAIC Takes 5% Stake in Daimler to Boost Partnership – Bloomberg: Beijing Automotive Group Co. is poised to get a 5% stake in Daimler AG, the automaker’s long-standing partner in China to affirm their cooperation.
China’s BAIC buys 5% Daimler stake; Daimler welcomes investment – Reuters: Beijing Automotive Group Co Ltd said on Tuesday that it had purchased a 5% stake in Germany’s Daimler.
Staffing firm Randstad’s earnings hit by slowdown at German carmakers – Reuters: Netherlands-based staffing group Randstad on Tuesday said its underlying earnings fell 4% in the second quarter, below analyst forecasts, due to a slowdown …
China exports first batch of second-hand commercial vehicles – Xinhuanet: A ceremony was held Monday in north China’s Tianjin Municipality for the export of 60 second-hand commercial vehicles, …
Breaking Down Hyundai Earnings – Bloomberg: KJ Hwang, director at CGS-CIMB Securities, discusses Hyundai Motor earnings and his outlook for the South Korean auto sector. He speaks on …

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World first: Bosch and Daimler obtain approval for driverless parking without human supervision

Automated valet parking is the world’s first fully automated driverless (SAE Level 4)¹ parking function to be approved by the authorities System to be in daily use in the Mercedes-Benz Museum parking garage in Stuttgart Automated parking system collects and returns the vehicle completely independently Bosch supplies the infrastructure; Daimler the vehicle technology Special permit… Continue reading World first: Bosch and Daimler obtain approval for driverless parking without human supervision

UPDATE 3-China’s BAIC buys 5% Daimler stake to cement alliance

FRANKFURT/BEIJING (Reuters) – China’s Beijing Automotive Group Co Ltd (BAIC) has bought a 5% stake in Daimler (DAIGn.DE), cementing their long-standing alliance after China’s Geely emerged as a potential rival by also taking a stake in the German automaker. FILE PHOTO: An employee works on an assembly line producing Mercedes-Benz cars at a factory of… Continue reading UPDATE 3-China’s BAIC buys 5% Daimler stake to cement alliance

Daimler welcomes investment by BAIC Group

Ola Källenius, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars: “We are very pleased that our long-standing partner BAIC is now a long-term investor in Daimler.” Daimler and BAIC are linked in a long-term partnership Daimler has been shareholder of BAIC Motor since 2013 Stuttgart (Germany) – Daimler AG… Continue reading Daimler welcomes investment by BAIC Group

Choice of new BMW CEO solidifies automaker’s electric plans

BMW is doubling down on its strategy of building electric versions of its mainstream cars, rather than a separate line of EVs.

That strategy was pushed by Oliver Zipse, who will take over as CEO from Harald Krueger on August 16, and it gives the company more flexibility to produce electric cars—on the same assembly lines as internal-combustion and plug-in hybrid versions.

Incoming BMW CEO Oliver Zipse

The new approach has a template: BMW has built its battery production facility as part of a flexible space inside its main car factory in Dingolfing, in case demand for electric cars doesn't materialize. That also saves billions of dollars in engineering as the company faces the need to develop new self-driving cars (some in partnership with Daimler) alongside new electric powertrains and the surrounding support infrastructure.

According to its latest plans, BMW expects to build 25 new plug-in models, including 13 all-electric cars by 2023, the first of which will be the all-new 2020 Mini Cooper SE.

2018 BMW i3s

The approach is quite a course change from BMW's former electric-vehicle trajectory. With the i3 and i8, introduced in 2014 and 2015, respectively, BMW became an early leader in electric cars. It made grand plans for some of the ancillary points, laying plans to develop a support network of car-sharing programs, charging infrastructure, and apps to support them. But the weight-saving carbon-fiber bodies for these vehicles are expensive to build, and sales of the i3 have continued to lag early expectations.

Although little of the surrounding infrastructure came to be, critics have charged that the company squandered that early lead when it ceased developing new dedicated EVs after those models, and focused instead on developing slow-selling, short-range plug-in versions of its existing sedans and SUVs.

Perhaps with the flexibility to produce electric versions of nearly its entire lineup, the brand might regain some of that lost momentum.

Electric Pickup Trucks Will Soon Be A Solid Reality

At least this is what the MyEV.com editor believes. You already know that Canadian farmers in Alberta find it very funny that someone wants to sell electric pickups. Not our readers, for sure. Mainstream automakers don’t think that way either, what led Jim Gorzelany, MyEV.com’s editor, to write a very interesting article for Forbes on… Continue reading Electric Pickup Trucks Will Soon Be A Solid Reality