Latest News Updates From William Wilkes

Mercedes will offload part of its roughly 35% holding in Daimler Truck, CFO Harald Wilhelm said.  Even with extra cash from selling shares, Mercedes is bracing for a difficult year.

“Together, Mercedes-Benz, Nvidia and Uber will build a global platform that makes autonomous driving available to everyone,” Nvidia CEO Jensen Huang said.

In an interview with a German media outlet, Mercedes CEO Ola Källenius said Commerce Secretary Howard Lutnick made the overture roughly a year ago, dangling tax relief and other incentives.

Several parts makers face idle capacity and are under pressure from carmakers to lower prices.

Daimler’s Mercedes-Benz Special Trucks unit will offer complete logistics vehicles and long-term service in Europe, North America and other markets, Daimler said in a statement.

The steel division, which employs 26,000 people, has been weighed down by soaring energy bills, rising interest rates and chronically low steel prices. 

The manufacturer on Sept. 3 unveiled a camouflaged version of the ID. Polo, which is expected to be priced below €25,000 ($29,125) when it goes on sale next year.

The company’s top labor official, Daniela Cavallo, on Sept. 2 urged Blume to step aside as head of Porsche AG, where he has remained CEO even after taking the helm at Volkswagen in 2022.

Daimler Truck will buy back $2.34 billion of its own shares, continuing a policy of returning cash to shareholders while managing the transition to low-emission vehicles.

Parts supplier Robert Bosch GmbH plans to cut 5,500 jobs globally, mainly in Germany, as the car industry’s woes ripple through the supply chain.