Daimler has no need for state aid, CEO tells paper

Europe

FRANKFURT — Daimler currently has sufficient funding and sees no need to apply for state aid, despite halting production at its major plants in Europe to contain the coronavirus, CEO Ola Kallenius told a German newspaper.

“Daimler currently has no need for state aid. Generally speaking, the industry had a very good order intake before the crisis,” Handelsblatt quoted Kallenius as saying.

Asked whether Daimler would help suppliers that are in trouble, Kallenius said: “We are in permanent discussions with our suppliers and consult them. Until now there has not been a case where liquidity was an issue.”

Daimler has reopened its factory in China and is seeing demand for cars recovering in the world’s biggest car market, Kaellenius told the paper.

“The vast majority of our dealerships have reopened, the customers are returning,” Kallenius said. “Every day more people come to the car dealerships. Demand is picking up, which makes us optimistic.”

Daimler has halted most Mercedes-Benz production in Europe and in the U.S. because supply chains cannot be maintained.

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