Breaking News
Get 40% Off 0
👀 Reveal Warren Buffett's stock picks that are beating the S&P 500 by +174.3% Get 40% Off

Daimler Truck to start assembly of Mercedes-Benz electric bus in Brazil

Published Jul 13, 2022 10:42AM ET Updated Jul 14, 2022 10:25AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: The Mercedes-Benz logo is seen at the 43rd Bangkok International Motor Show, in Bangkok, Thailand, March 22, 2022. REUTERS/Athit Perawongmetha
 
BYDDF
+1.80%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

(This July 13 story clarifies company referred in the story is Daimler (OTC:DDAIF) Truck Holding AG, which assembles buses under the Mercedes-Benz brand in Brazil)

SAO PAULO (Reuters) - German manufacturer Daimler Truck Holding AG is set to start the assembly of its first Mercedes-Benz electric bus in Brazil between November and December as demand grows in Latin America's largest economy, an executive said on Wednesday.

The company sees demand for electric buses in Brazil reaching 3,000 vehicles by 2024, its Bus Sales & Marketing Director Walter Barbosa said in a press conference, from just over 1,000 buses in 2023.

The Mercedes-Benz brand is expected to join China-based BYD Co (OTC:BYDDF) Ltd and some local importers in the Brazilian market.

Most of the vehicles would be operated in Sao Paulo as the city aims to own 2,600 electric buses by 2024.

Mercedes-Benz's 84-passenger electric bus is called EO500U and has a 250-kilometer range, Barbosa said, noting that 100 million reais ($18.62 million) were invested in the project.

The vehicle will be equipped with two engines, with recharge taking between 2.5 and 3 hours. Daimler Truck did not reveal how much the electric bus would cost, but said prices are expected to be 3 to 3.5 times higher than those of a conventional diesel-fueled bus.

Considering the overall bus market in Brazil, the company said total sales are seen reaching 17,000 to 21,000 units this year, depending on how companies manage an ongoing auto parts shortage.

In 2021, bus sales totaled 14,000 in Brazil, almost the same level as in the year before, according to automakers association Anfavea.

"Last year was tough, with few customers able and willing to buy. This year is completely different, customers want to buy," Barbosa said.

($1 = 5.3717 reais)

Daimler Truck to start assembly of Mercedes-Benz electric bus in Brazil
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email