- Completion of transaction expected in 2019
- Anticipated earnings effect at Daimler Financial Services to be recognized in 2019
The planned joint mobility company with the BMW Group is expected to be established at the beginning of next year. This has been agreed by Daimler AG and BMW Group. Following the approval of the project by the EU Commission, the two partners are continuing talks with the US antitrust authorities. Completion of the transaction, which was originally planned for 2018 and continues to be pursued by both partners, can no longer be achieved in the remaining weeks of this year.
In this context, the expected significant positive valuation and earnings effects at Daimler Financial Services will be realized in 2019. Accordingly, the earnings forecast for the Daimler Financial Services division has been reduced for 2018. The division now expects EBIT to be significantly lower than in the previous year. The forecast for the Daimler Group’s EBIT in the 2018 financial year remains unaffected and unchanged. As previously announced, the transaction will not have any cash-flow impact on the industrial business.
With their joint venture, Daimler AG and BMW Group plan to combine their mobility services in the fields of car sharing, ride hailing, parking, charging and multimodality, and to create one of the leading providers of innovative mobility services. Both automobile manufacturers want to shape the future of mobility in order to offer their customers unique experiences and to support partners such as cities and municipalities along the way to achieving sustainable urban mobility. In the future, customers will have a holistic, intelligent and seamlessly linked ecosystem of mobility services at their disposal at the touch of a button. In this way, the two partners are addressing the challenges of urban mobility as well as customers’ requirements and, together with cities, municipalities and other interest groups, are helping to improve the quality of life in metropolises.
This document contains forward-looking statements that reflect our current views about future events. The words “anticipate,” “assume,” “believe,” “estimate,” “expect,” “intend,” “may,” “can,” “could,” “plan,” “project,” “should” and similar expressions are used to identify forward-looking statements. These statements are subject to many risks and uncertainties, including an adverse development of global economic conditions, in particular a decline of demand in our most important markets; a deterioration of our refinancing possibilities on the credit and financial markets; events of force majeure including natural disasters, acts of terrorism, political unrest, armed conflicts, industrial accidents and their effects on our sales, purchasing, production or financial services activities; changes in currency exchange rates and tariff regulations; a shift in consumer preferences towards smaller, lower-margin vehicles; a possible lack of acceptance of our products or services which limits our ability to achieve prices and adequately utilize our production capacities; price increases for fuel or raw materials; disruption of production due to shortages of materials, labor strikes or supplier insolvencies; a decline in resale prices of used vehicles; the effective implementation of cost-reduction and efficiency-optimization measures; the business outlook for companies in which we hold a significant equity interest; the successful implementation of strategic cooperations and joint ventures; changes in laws, regulations and government policies, particularly those relating to vehicle emissions, fuel economy and safety; the resolution of pending government investigations or of investigations requested by governments and the conclusion of pending or threatened future legal proceedings; and other risks and uncertainties, some of which we describe under the heading “Risk and Opportunity Report” in the current Annual Report.
If any of these risks and uncertainties materializes or if the assumptions underlying any of our forward-looking statements prove to be incorrect, the actual results may be materially different from those we express or imply by such statements. We do not intend or assume any obligation to update these forward-looking statements since they are based solely on the circumstances at the date of publication.
Daimler at a Glance
Daimler AG is one of the world’s most successful automotive companies. With its divisions Mercedes-Benz Cars, Daimler Trucks, Mercedes-Benz Vans, Daimler Buses and Daimler Financial Services, the Daimler Group is one of the biggest producers of premium cars and the world’s biggest manufacturer of commercial vehicles with a global reach. Daimler Financial Services provides financing, leasing, fleet management, insurance, financial investments, credit cards, and innovative mobility services. The company’s founders, Gottlieb Daimler and Carl Benz, made history with the invention of the automobile in the year 1886. As a pioneer of automotive engineering, it is a motivation and commitment of Daimler to shape safely and sustainably the future of mobility: The Group’s focus is on innovative and green technologies as well as on safe and superior automobiles that appeal and fascinate. Daimler consequently invests in the development of efficient drive trains with the long-term goal of locally emission-free driving: from hightech combustion engines about hybrid vehicles to electric drive trains powered by battery or fuel cell. Furthermore, the company follows a consistent path towards intelligent connectivity of its vehicles, autonomous driving and new mobility concepts. This is just one example of how Daimler willingly accepts the challenge of meeting its responsibility towards society and the environment. Daimler sells its vehicles and services in nearly all the countries of the world and has production facilities in Europe, North and South America, Asia, and Africa. Its current brand portfolio includes, in addition to the world’s most valuable premium automotive brand, Mercedes-Benz (Source: Interbrand-Study, 10/4/2018), as well as Mercedes-AMG, Mercedes-Maybach and Mercedes me, the brands smart, EQ, Freightliner, Western Star, BharatBenz, FUSO, Setra and Thomas Built Buses, and Daimler Financial Services’ brands: Mercedes-Benz Bank, Mercedes-Benz Financial Services, Daimler Truck Financial, moovel, car2go and mytaxi.
The company is listed on the stock exchanges of Frankfurt and Stuttgart (stock exchange symbol DAI). In 2017, the Group sold around 3.3 million vehicles and employed a workforce of more than 289,300 people. With application of IFRS 15 and IFRS 9 in financial year 2017, Group revenue would have amounted to €164.2 billion and Group EBIT would have amounted to €14.3 billion. Before application of IFRS 15 and 9, Group revenue in 2017 amounted to €164.3 billion and Group EBIT amounted to €14.7 billion, as previously reported.
SOURCE Daimler North America – Corporate Communications
BMW of Springfield hosts New York Yankee Mariano Rivera at the Reveal of Lightning M4
Worlds collide at BMW of Springfield when the New York Yankee legend stepped foot into Tom Maoli’s Celebrity Motor Car Company dealership. Baseball legend Mariano Rivera, played 19 seasons in the MLB for the New York Yankees, from 1995 to 2013 is known for being the greatest relief pitcher of all time and pitched in for a great cause!
On December 16, 2018 Mariano came to support Tom for the unveiling of the “Lightning M4,” which is owned by his son, Mariano Rivera Jr. Celebrity Motor Car Company’s BMW of Springfield hosted the reveal of the custom designed BMW “Lightning M4.” Rivera’s vehicle was showcased and unveiled by designer Corsa Auto Design and installer Moemodz.
The event was a “HOME RUN.”
All proceeds of the event went to the baseball legend’s charity which was St. Mary’s Healthcare System for Children in New York City.
CCC™ X Data Exchange Powers Telematics Innovations for State Auto
CCC Information Services Inc. and its affiliates (CCC) announced today that State Automobile Mutual Insurance Company (State Auto) is live on the CCC™ X data exchange, activating a broad range of telematics capabilities in support of the insurer’s vision to transform the policyholder experience through innovation. State Auto is using CCC X to connect with CCC ecosystem partners, including a major OEM, and to deliver usage-based insurance (UBI) programs and telematics-enabled claims, making it the first insurer in the industry to integrate crash event data into their CCC ONE® claims workflow. The CCC and State Auto relationship spans the carrier’s Personal and Commercial lines of business. State Auto is a leading digital provider of property and casualty insurance, exclusively through independent agents. CCC is a leading Software as a Service provider to the automotive, insurance, and collision repair industries.
“We’re excited to extend our partnership with CCC as we move forward together toward a more innovative future,” said Paul Stachura, Senior Vice President/Chief Claims and Risk Engineering (CARE) Officer, State Auto. “Telematics is a strategic imperative for us. CCC’s data exchange stands out as a way for us to quickly and easily access the data, providers, and applications needed to deliver exceptional experiences for customers, while creating efficiencies and bottom-line impact for our business.”
CCC X aggregates and normalizes connected data from a rich variety of sources including beacons, dongles, mobile applications, fleet and professional devices, and connected cars. Powered by the CCC ONE™ Platform, CCC X passes connected car data to customers on the CCC network through software-driven workflows that serve the automotive ecosystem. Data accessed via CCC X can be deeply integrated into existing insurer business operations for UBI programs, increased claims automation, and more.
For State Auto, CCC X:
- Receives data streamed from multiple sources, including a major OEM and a third-party device provider. Within the OEM program CCC has made available to the market, State Auto will use actual driving behavior to identify consumers to engage with by advertising discounted insurance policies.
- Ingests telematics data from enrolled vehicles and provides additional analytics to help identify when an enrolled State Auto-insured vehicle is involved in an accident. Information regarding the potential accident is shared automatically with a State Auto first notice of loss representative, initiating the first steps in a comprehensive claims experience. State Auto can use this data to inform its decision-making in real-time, including vehicle routing and preferred method of inspection (based on carrier guidelines).
“CCC is proud to serve as the engine for State Auto’s telematics and connected data efforts,” said Naved Siddique, Group VP, Insurance Services Group for CCC. “We share their commitment to technology innovation and its power and impact on transforming the way insurance is delivered and serviced. We’ve worked with State Auto successfully for many years and are excited to help bring the full power of telematics to life.”
CCC’s hyperscale platform has processed data for billions of trips. The company has also processed nearly 200 million claims, including vehicle total loss valuations and vehicle repair estimates, making CCC X uniquely capable of enriching connected data in ways that support new business opportunities for customers and new experiences for consumers. CCC solutions are in use by more than 350 insurers, numerous OEMs, 24,000 collision repairers, and a range of third-party data and service providers.
Learn more about the CCC X™ data exchange.
OXIS Energy Key Component of Safe Road Electrification Project to Launch in January
The Lithium Sulphur for Safe Road Electrification (LISA) 43 month project starts on the 1st January 2019. It is worth over €7.9m and consists of 13 European partners including OXIS Energy UK Ltd. The overall goal is to design and manufacture a lithium sulfur technology that will enable safe electrification of EV applications.
Electric vehicles (EVs) are a key technology for reducing the environmental impact of road transport and reaching the EU sustainability goals in terms of reducing CO₂ emissions and oil dependency. With stricter environmental regulations, automobile manufacturers are now urged to produce electric or hybrid vehicles, including a commitment to reduce emissions by 40% by 2030. One of the main challenges is to increase market acceptance and deployment of EVs on European and global roads. This requires new battery technologies to overcome the limitations of current EVs, particularly in terms of driving range, charging time, costs and safety.
Due to the fact that Li-ion batteries are still the limiting factor for mass scale adoption of electrified vehicles, there is a need for new batteries that enable EVs with higher driving range, higher safety and faster charging at lower cost. Li-S is a promising alternative to Li-ion – free of critical raw material (CRM) and non-limited in capacity and energy by material of intercalation.
LISA advances the development of high energy and safe Li-S battery cells with hybrid solid state non-flammable electrolytes validated at 20Ah cell level. LISA will solve specific Li-S bottlenecks on metallic lithium protection, power rate and volumetric energy density; together with cost which is the main selection criteria for EV batteries. The sustainability of the technology will be assessed from an environmental and economic perspective.
The technology will be delivered ready for use within the corresponding state of charge estimator facilitating battery pack integration. Today, Li-S is twice as light as Li-ion and has reached only 10% of the sulphur theoretical energy density (2600Wh/kg) at cell prototype level (250-300Wh/kg), with potentially 800Wh/l (600Wh/kg) achievable by improving materials, components and manufacturing. LISA is strongly oriented to the development of lithium metal protection and solid state electrolyte and will incorporate process concepts enabling integration in future manufacturing lines. Moreover, the outcome of the project in terms of new materials, components, cells, and processes will be transferable to other lithium-anode based technologies such as Li-ion and solid state lithium technologies. As such, LISA will have a large impact on existing and next-generation EV batteries, delivering technology with higher energy density beyond the theoretical capacities of chemistries using CRM – i.e. natural graphite and cobalt – or silicon-based chemistries inherently limited by their manufacturability.
Steve Rowlands, Deputy CTO at OXIS says, “The LISA project ties in perfectly with OXIS Energy’s future business strategy in entering into the electric automotive sector including trucks and buses. Continuing our collaborations with LEITAT, Arkema, Cranfield University, IWS Fraunhofer and Renault as well as working with new partners is an exciting prospect in taking OXIS technology to the next level in terms of safe automotive electrification.”
The partners involved in the LISA project are LEITAT (co-ordinators), OXIS Energy Ltd, Cranfield University, Varta Micro Battery GmbH, CIC Energigune, ARKEMA, Fraunhofer Gesellschaft Zur Förderung De Angewandten Forschung, Pulsedeon Oy, ACCUREC Recycling GmbH, Optimat Ltd, Technische Universität Dresden, VDL Enabling Transport Solutions BV and Renault.
This project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 814471.
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