Personnel measures in production-related and administrative areas in the years 2020 to 2022
In January 2020, Daimler agreed with the General Works Council on a general company agreement that, among other things, regulates voluntary agreements on termination of employment primarily for employees in indirect areas (i.e. in administration and production-related areas). Discussions with employees on voluntary agreements on termination of employment will begin in the second quarter of 2020.
Establishment of joint venture smart Automobile Co., Ltd.
Mercedes-Benz AG and Zhejiang Geely Holding Group established the joint venture smart Automobile Co., Ltd. in December 2019. The two companies are expected to contribute equal shares of RMB 2.7 billion each to the equity of the joint venture in the first half of 2020. The equity interest of Mercedes-Benz AG will mainly consist of the contribution of the smart brand, which will have a positive impact on earnings before taxes of approximately €0.1 billion to €0.2 billion at the future Mercedes-Benz Cars & Vans segment.
Sale of 30 % of the shares in HERE
In December 2019, There Holding B.V. (THBV) and HERE International B.V. (HERE) and other companies signed an agreement on the basis of which 30 % of the shares in HERE are to be sold to a joint venture between Mitsubishi Corporation and Nippon Telegraph and Telephone Corporation. The transaction is expected to be completed in the first half of 2020 after receiving the approval of the relevant authorities. The completion is expected to lead to a gain of €0.1 billion.