Daimler is currently reevaluating all investment plans and if they do not directly contribute to improving the competitiveness of the company they will be cut.
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According to dpa press agency, the Daimler AG board has ordered its senior managers to carry out ‘absolute cost discipline’ in the light of the currently collapse in vehicle sales.
“Everyone must make their contribution,” wrote the board in a letter reported by the Stuttgarter Zeitung. The letter went on to say that recently agreed cost cuts will not be enough.
Investment in green technologies are being prioritsed, as well as investments in India, Russia and China.
Anything that does not contribute directly to improve Daimler’s financial condition will not be continued. The board wrote further that nobody could have foreseen events of the last few months.
