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Mercedes is committed to F1, but wants to cut costs

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FRANKFURT – Mercedes proprietor Daimler is committed to Formula One but is working to slash costs and cut the environmental affect of motor racing, Chief Executive Ola Kaellenius on Wednesday.



“We have as little reason to step out of Formula One as Bayern Munich has to step out of football,” he mentioned throughout a digital roundtable dialogue with journalists on Wednesday.

The carmaker is growing a plan to make the game emissions impartial, together with via the usage of artificial fuels, and wants to enhance the costs of competing in motor racing.

“The net financial impact will be halved in the next three years. We have an even more aggressive cost reduction target in Formula One than for the rest of the company,” Kaellenius mentioned.

Separately Kaellenius reiterated that Daimler is “within striking distance” of assembly its carbon dioxide emissions discount targets in Europe.

Mercedes-Benz has ramped up gross sales of electrical and hybrid vehicles within the third quarter and can proceed to achieve this for the remainder of the 12 months, he mentioned.

Reuters



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