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<blockquote data-quote="Weather Man" data-source="post: 16535089" data-attributes="member: 137766"><p><span style="font-size: 22px"><strong>Daimler to invest €70B from 2021-2025 towards electrification and digitization</strong></span></p><p>Dec. 3, 2020 12:58 PM ET|About: <a href="https://seekingalpha.com/symbol/DMLRY" target="_blank">Daimler AG (DMLRY)</a>|By: <a href="https://seekingalpha.com/user/32439325/profile" target="_blank">Niloofer Shaikh</a>, SA News Editor </p><p></p><p></p><p>To accelerate ongoing transformation <a href="https://seekingalpha.com/pr/18108778-daimlers-supervisory-board-gives-full-backing-to-business-plan-2021minus-2025?source=news_body_link" target="_blank">towards electrification and digitization</a>, Mercedes-Benz’s parent company Daimler AG (<a href="https://seekingalpha.com/symbol/DMLRY?source=news_body_link" target="_blank">OTCPK<img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite8" alt=":D" title="Big Grin :D" loading="lazy" data-shortname=":D" />MLRY</a> -0.8%) confirms €70B investment for business plan from 2021 through 2025.</p><p></p><p>Within this business plan period, Mercedes-Benz Cars' R&D expenditure and capex to decrease more than 20% in 2025 than in 2019 and Daimler Trucks will be able to accelerate its plans towards emission free transportation.</p><p></p><p>Michael Brecht, Chairman of the General Works Council of Daimler AG: "After controversial discussions in recent weeks, we have achieved that, in addition to the Daimler investment plan, a transformation fund of €1 billion is to be established. The General Works Council has called for this transformation fund in order to enable additional investment in the ongoing development of our sites. In this way, we can mitigate the disruption of the transformation and send an important signal to our colleagues. The additional funding gives us more opportunities to implement new technologies and products in our plants, thus protecting jobs and know-how. The fund is therefore an important element to make the transformation at Daimler a fair one."</p></blockquote><p></p>
[QUOTE="Weather Man, post: 16535089, member: 137766"] [size=6][b]Daimler to invest €70B from 2021-2025 towards electrification and digitization[/b][/size] Dec. 3, 2020 12:58 PM ET|About: [URL='https://seekingalpha.com/symbol/DMLRY']Daimler AG (DMLRY)[/URL]|By: [URL='https://seekingalpha.com/user/32439325/profile']Niloofer Shaikh[/URL], SA News Editor To accelerate ongoing transformation [URL='https://seekingalpha.com/pr/18108778-daimlers-supervisory-board-gives-full-backing-to-business-plan-2021minus-2025?source=news_body_link']towards electrification and digitization[/URL], Mercedes-Benz’s parent company Daimler AG ([URL='https://seekingalpha.com/symbol/DMLRY?source=news_body_link']OTCPK:DMLRY[/URL] -0.8%) confirms €70B investment for business plan from 2021 through 2025. Within this business plan period, Mercedes-Benz Cars' R&D expenditure and capex to decrease more than 20% in 2025 than in 2019 and Daimler Trucks will be able to accelerate its plans towards emission free transportation. Michael Brecht, Chairman of the General Works Council of Daimler AG: "After controversial discussions in recent weeks, we have achieved that, in addition to the Daimler investment plan, a transformation fund of €1 billion is to be established. The General Works Council has called for this transformation fund in order to enable additional investment in the ongoing development of our sites. In this way, we can mitigate the disruption of the transformation and send an important signal to our colleagues. The additional funding gives us more opportunities to implement new technologies and products in our plants, thus protecting jobs and know-how. The fund is therefore an important element to make the transformation at Daimler a fair one." [/QUOTE]
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