Daimler CEO: Toyota truck deal will make us less dependent on Chinese market
10:35 am Tuesday, May 30th, 2023
HAMBURG (Reuters) – A deal between Daimler Truck and Toyota Motor Corp to combine their truck units in Japan will give the German group a more “balanced” market position in Asia and reduce its reliance on China, Daimler Truck’s CEO said on Tuesday.
During a conference call, Martin Daum initially said the tie-up would have no effect on its operations in the Chinese market. But later when asked whether the deal hoped to achieve greater independence from China, he said: “You could see that as a consideration for the whole thing.”
(Reporting by Jan Schwartz; writing by Matthias Williams, editing by Kirsti Knolle)
