Daimler Truck, a global leader in the trucking manufacturing industry, has announced ambitious goals both operationally and financially. Presented by the Chief Executive Officer Martin Daum at the inaugural Strategy Day conference, the company looks to be a leader in the electric vehicle market and provide strong financial returns globally.
Daimler Truck, well recognized for its brands such as Mercedez-Benz, FUSO, Freightliner, and BharatBenz, has a strong market position in North America; 40% of the market share in the heavy-duty trucking segment belongs to Daimler Truck. However, performance oversees is not up to expectations, especially in regions such as Europe, Brazil, and Asia.
“We will target the benchmark in each region. Every region must deliver competitive performance and we are willing to implement the measures necessary to achieve this goal. We are willing to take hard decisions to lower our breakeven and raise our performance," said Daum.
Financially, the company is setting out to increase profitability, raise returns, and deliver strong shareholder returns. Daimler truck anticipates reaching benchmark profitability in all regions, and has a goal of overall double digit return of sales by 2025. The company is also seeking to cut costs, with an emphasis on reducing fixed costs, R&D spending, and reducing the complexity of the process.
The development of electric trucks is a key trend in the automobile industry, and Daimler Truck is ready to lead the way to zero emissions. The company plans to reduce internal combustion engine powertrain spending and shift its investments into battery-electric and hydrogen technologies. The company has also entered partnerships in the fields of battery technology and charging infrastructure.
Daum stated, "Our mission as an independent company is clear: Our ambition is to lead the way to zero emissions in the trucking business by accelerating the development of battery and fuel cell vehicles.”