Mercedes 2012 Annual Report Download - page 133

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Furthermore, the upcoming fundamental changes in auto-
motive technology are on the one hand a risk factor, but
on the other hand can present considerable opportunities.
If we succeed in our aim of playing a pioneering role for
motor vehicles and concepts for sustainable mobility with
innovative technologies, this should give us additional
growth potential in terms of both unit sales and earnings.
We also see opportunities going beyond our planning
in the area of innovative mobility services. A large and fast-
growing market is being created in which we are already
very well positioned with car2go. We will significantly expand
our offering in this field of business and intend to participate
to an above-average extent in the growth of this market.
New perspectives are also opening up through pioneering
cooperations that we have agreed upon in various areas.
We combine our expertise with that of our partners, which
allows us to bring new technologies to market maturity more
quickly and more cost effectively. It also enables us to
produce on a larger scale and therefore less expensively.
Capital expenditure
In order to achieve our ambitious growth targets, we will expand
our product range in the coming years and develop additional
production and distribution capabilities. We also want to make
sure that we can play a leading role in the far-reaching tech-
nological transformation of the automotive industry. For this
purpose, we will invest a total of approximately €10.2 billion
in property, plant and equipment in the years 2013 and 2014.
 3.47  3.48 We will thus exceed the already very high
level of the past two years by €1.2 billion. In addition to capital
expenditure, we are developing our position in the emerging
markets by means of targeted financial investment in joint ven-
tures and equity interests. These include our joint ventures
with BAIC and Foton in China as well as Engine Holding with
Rolls-Royce.
At the Mercedes-Benz Cars division, the focus of our capital
expenditure will be on renewing and expanding our product
range. The main projects include the expansion of our model
range in the A-/B-Class segment, preparations for the new
S-Class at the plant in Sindelfingen and preparations for the
new C-Class family. But substantial investment is planned also
for the modernization and expansion of engine and transmission
production at the plant in Untertürkheim, as well as for the
expansion of our production capacities in the United States.
After last year’s high level of capital expenditure, Daimler
Trucks will mainly invest in successor generations of existing
products and new global component projects in the coming
years. At Mercedes-Benz Vans, the focus is on the further devel-
opment of the existing model range and the expansion of
the sales and service organization outside Western Europe,
especially in the United States, Russia, Latin America and
China. The key projects at Daimler Buses are advance expen-
diture for new model versions, future emission technology
and alternative drive systems.
Investment in property, plant and equipment 2013 – 2014
In %
3.47
Mercedes-Benz Cars 71%
Daimler Trucks 20%
Mercedes-Benz Vans 7%
Daimler Financial Services 0.3%
Daimler Buses 2%
Investment in property, plant and equipment
2011 2012 2013 -2014
In billions of euros
Daimler Group 4.2 4.8 10.2
Mercedes-Benz Cars 2.7 3.5 7.3
Daimler Trucks 1.2 1.0 2.0
Mercedes-Benz Vans 0.1 0.2 0.7
Daimler Buses 0.1 0.1 0.2
Daimler Financial Services 0.02 0.02 0.03
3.48
Research and development expenditure 2013 – 2014
In %
3.49
Mercedes-Benz Cars 70%
Daimler Trucks 21%
Mercedes-Benz Vans 6%
Daimler Buses 3%
Research and development expenditure
2011 2012 2013 -2014
In billions of euros
Daimler Group 5.6 5.6 10.8
Mercedes-Benz Cars 3.7 3.9 7.6
Daimler Trucks 1.3 1.2 2.3
Mercedes-Benz Vans 0.4 0.4 0.6
Daimler Buses 0.2 0.2 0.3
3.50