March 23, 2020 / 1:30 PM / 9 days ago

Daimler CEO says carmaker has no need for state aid - Handelsblatt

FRANKFURT, March 23 (Reuters) - 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, Chief Executive Ola Kaellenius told German newspaper Handelsblatt.

“Daimler currently has no need for state aid. Generally speaking, the industry had a very good order intake before the crisis,” Kaellenius is quoted telling the paper.

Upon being asked whether Daimler would help suppliers that are in trouble, Kaellenius 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 is shutting production at its plant in Tuscaloosa, Alabama, Kaellenius said. The carmaker has however reopened its factory in China and is seeing demand for cars recovering in the world’s biggest car market, Kaellenius told the paper. (Reporting by Edward Taylor Editing by Michelle Martin)

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