Daimler Truck will prioritize investment over profit once the margin target is reached

The Daimler logo is seen ahead of the annual meeting of Daimler shareholders in Berlin, Germany on April 5, 2018. REUTERS / Hannibal Hanschke / File Photo

FRANKFURT, Dec. 10 (Reuters) – New truck maker Daimler Truck (DTGGe.DE) will prioritize investing in future technologies over increasing profits if it hits double-digit margin he’s aiming for, CEO Martin Daum said in a panel discussion on Friday.

“The fact that we still exist is due to two things: because the company has always made money, and there were difficult times in between, and second, because we have always invested in the future, ”Daum said, speaking to reporters hours after the company was listed on the Frankfurt Stock Exchange.

CFO Jochen Goetz added that while he hoped the worst of the chip supply chain crisis passed in the third quarter of this year, the uncertainty over the issue would continue to have “serious consequences. “for Daimler Truck until 2022.

Daum told German newspaper Automobilwoche last month the company would sell a “five-digit average number” of fewer vehicles than it could have due to the lack of chips, resulting in a loss of billions in revenue. euros.

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Reporting by Ilona Wissenbach, Victoria Waldersee, editing by Miranda Murray

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