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Daimler: Shift to electric cars non-negotiable despite virus

Germany virus 2020 crisis Coronavirus
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FRANKFURT – Germany's Daimler AG, maker of Mercedes-Benz luxury cars, made only a small profit in the first quarter of 2020 as the company shut down factories and shifted into cash preservation and cost management mode during the coronavirus crisis.

The company's CEO said Wednesday the Stuttgart-based automaker was now engaging in a gradual re-start of production — and would continue its investment in electric cars and digitalization.

He called the shift to new technologies “non-negotiable” despite the severe disruption from the virus outbreak. Net profit was 168 million euros ($182 million), down from 2.1 billion euros in the same quarter a year earlier.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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