Daimler to Spend $2 Billion on Mercedes Factory at Sindelfingen
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Daimler AG, the third-biggest maker of luxury vehicles, will spend 1.5 billion euros ($2 billion) through 2020 upgrading its largest car plant after employees agreed to more flexible working terms.
The Mercedes-Benz factory in Sindelfingen, Germany, will generate at least 100 million euros in savings through the labor agreement, which gives the company greater flexibility to assign production shifts, especially during the ramp-up and phase-out of a model, Daimler said in a statement distributed at a press conference at the plant.