Daimler: ‘No state aid needed’

Daimler, the parent company of Mercedes-Benz, does not yet need state aid from the German government, says CEO Ola Kaellenius on Monday with Handelsblatt.

“There is currently no need for state aid at Daimler. The auto industry has generally recorded very good orders ahead of the coronavirus outbreak,” said Kaellenius. Daimler’s factories in Europe are largely shut down. Production in the US state of Alabama, where Mercedes’ successful SUVs are rolling off the production line, will soon also be temporarily halted. In China, on the other hand, work is being restarted, says Kaellenius.

Earlier on Monday, the German government announced it would allocate € 156 billion to fight the economic consequences of the coronavirus outbreak.

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