Mercedes 2009 Annual Report Download - page 71

Management Report |Business and General Conditions |67
Parallel to the technological further development of our prod-
ucts, we will also expand the range of services we provide in
connection with these products. In the cooperation between
Daimler Financial Services and the automotive divisions, we
develop ways of tapping into new business potential in the field
of services. One example of this is OMNIplus, a wide-ranging,
bus-specific service offering for buses of the Mercedes-Benz
and Setra brands. Some of the new services for bus operators
included in OMNIplus are the first fleet management system
specially developed for buses entitled “BusFleet” and a newly
graded service-card concept. Daimler Financial Services has
broadened its range of services offered to commercial clients
with “Business Leasing Plus” from Mercedes-Benz Bank; this
is a complete package of vehicle leasing and auto insurance for
a fixed monthly price. Daimler Trucks introduced “Truck Works,”
a new services brand. With “TruckWorks” services are effectively
tailored to customers’ requirements and are provi
ded com-
pletely from one source. An additional aspect is sup
port for
trailers, semitrailers and superstructures. And we will continue
to develop additional attractive services for our custo
mers in
the future.
–Development and implementation of new business activi-
ties in related areas. We will make targeted use of the results
of the work done by our research and development departments,
our attractive customer base and our strong brands to utilize
new business potential also in related areas. However, a precon-
dition for this is that the new business ideas are related to our
core business and contribute to our profitable growth. The
spe
cially created Business Innovation Team has the task of
devel
oping new business ideas and supporting their implemen-
tation
. The first important project is a new urban mobility con-
cept en
titled car2go, which has been launched successfully
in Ulm
and will be tested in a second phase in Austin, Texas.
Some other
initiatives are the marketing of used cars in the
Young Classics project and the rental of as-new, well-equipped
Mercedes-Benz
vehicles by special branches or dealerships
in the Mercedes-
Benz Rent project. The first Mercedes-Benz
Driving Academy is
making an important contribution to
traffic safety in London
by providing special driver training and
aiming at younger target
groups. As with the initiatives previ-
ously listed, this project is also in the pilot phase.
Portfolio changes. With the goal of strengthening our core
business and utilizing new growth potential, we further developed
our business portfolio in 2009:
In February 2009, the company Deutsche Accumotive GmbH was
founded, in which Daimler AG holds a 90% stake and our partner
Evonik Industries AG holds 10%. Within the framework of this
joint venture, Daimler is developing batteries for automotive appli-
cations and will produce and distribute them as of the year 2012.
In connection with an agreement signed on April 27, 2009 by
Daimler AG, Chrysler, Cerberus and the US Pension Benefit Guar-
anty Corporation (PBGC), Daimler disposed of its 19.9% equity
interest in Chrysler on June 3, 2009. In addition, Daimler commit-
ted to paying US $200 million into the Chrysler pension plans
each year from 2009 to 2011. The payment for the year 2009 was
made in June. The previous pension guarantee made to the PBGC
of US $1 billion was reduced to an amount of US $200 million and
continues to be effective until August 2012.
Due to the economic situation, we reorganized our business
operations in India in April 2009. In this context, the Hero Group
transferred its 40% interest in the joint venture Daimler Hero
Commercial Vehicles Ltd. to Daimler. Nonetheless, Daimler stands
by its plans to expand in the Indian market for commercial vehicles.
In May 2009, Daimler acquired a 10% equity interest in Tesla
Motors Inc. for US $50 million. In July 2009, Daimler sold 40% of
this holding to its new major shareholder, Aabar Investments
PJSC, Abu Dhabi, within the framework of the first joint strategic
project between the two companies. Tesla is the only producer to
distribute a high-performance battery-powered vehicle with a range
of more than 300 kilometers in both North America and Europe.
The two companies have already agreed to collaborate on installing
lithium-ion batteries and charging units in the first 1,000 units of
the smart fortwo electric drive. The agreement also calls for the
two partners to cooperate closely on the development of battery
systems, electric drive and individual vehicle projects.