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Daimler Sees EU1.5 Billion Savings by 2014, Automobilwoche Says

Daimler AG plans to save 1.5 billion euros ($1.9 billion) annually by 2014 by sharing common underpinnings among Mercedes-Benz models, Automobilwoche reported, citing an interview with research and development chief Thomas Weber.

Weber told Automobilwoche that his department aims to reduce its expenditure to around 4 percent of the company’s revenue.

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