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Luxury car : Mercedes-Benz is banking on luxury and electric cars

Luxury car : Mercedes-Benz is banking on luxury and electric cars

Mercedes-Benz has unveiled a new strategy that aims at profitable growth in the luxury sector while establishing its leadership in the field of automotive electrics and software.

 

At the virtual investor and analyst conference Mercedes-Benz Strategy Update on October 6, 2020, the Chairman of the Board of Directors of Daimler AG and Mercedes-Benz AG, Ola Källenius, announced a new plan for the future of the brand.

 

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In recent years we have done a lot of things right … but we have not yet reached our full potential in terms of turning volume success into profit growth. This is why we have refocused and are launching our new strategy. It is about leveraging our strengths as a luxury brand to increase economic value and improve the composition and positioning of our product range. We will unleash the full potential of our subsidiaries – AMG, Maybach, G and EQ. Our strategy is designed to stop non-core activities in order to focus on what really matters: dedicated electric vehicles and automotive software. We will take action on structural costs and aim for strong and sustainable profitability.”

 

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