Daimler Trucks, which is being spun off by its parent group later this year, should invest much of a 1.5 billion euro ($1.8 billion) fund for cleaner technologies in Germany, works council chief Michael Brecht said on Saturday. Daimler announced the fund on Feb. 3 alongside plans to spin off the world’s largest truck and bus maker, as it seeks to increase its appeal to investors as a focused electric, luxury cars business.
Daimler Trucks has operations around the world and last April announced a fuel joint venture with Sweden’s Volvo Trucks.
Daimler Trucks chief executive Martin Daum told Reuters on Tuesday that a full line of zero-emission commercial vehicles could be ready by 2027, but deploying them needed fresh investments. He also highlighted growth opportunities in China, India and other markets such as Indonesia.
($1 = 0.8252 euros)
Reporting by Vera Eckert. Editing by Mark Potter
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