Automotive

UK's Bentley pouring billions into electric car overhaul

Luxury automaker Bentley said Wednesday it is pouring billions into upgrading manufacturing to accelerate its electric vehicle development plan, joining other auto brands shifting away from gasoline engines.

Internet

'Metaverse' hype fuels booming digital property market

The idea of spending millions on non-existent land may sound ludicrous—but feverish predictions of a virtual reality future are pushing investors to bet big on digital real estate.

Automotive

Daimler's trucks, luxury cars to go their separate ways

Shareholders in Daimler AG, maker of Mercedes-Benz luxury cars, on Friday approved the spinoff of the company's truck division, a move intended to let the world's largest maker of trucks react faster to change and focus on ...

Automotive

Daimler: $4.3 billion quarterly profit despite chip shortage

German auto maker Daimler reaped strong profits in the second quarter as demand for its Mercedes luxury cars continued to rebound from the depths of the pandemic, generating cash that the company can invest in its shift to ...

Business

Study: Hope for US boost pushes global luxury goods recovery

Luxury brands are already cashing in on promises of a 21st-century version of the "Roaring '20s" in the United States, where hefty stimulus packages and an advanced vaccine campaign are accelerating post-pandemic recovery ...

Business

Cost controls, luxury sales help Daimler weather pandemic

Car and truck maker Daimler increased its profits by 48% to 4.0 billion euros ($4.8 billion) in 2020 thanks to extensive cost-cutting and a sales recovery in the second half for its highly profitable Mercedes-Benz luxury ...

Automotive

Daimler to spin off trucks, change name to Mercedes-Benz

German automaker Daimler will split itself into two independent companies by spinning off its truck and bus division, a move the company said would give both the freedom to operate more nimbly in a fast-changing environment ...

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