U.S. automakers are facing mounting pressure amid slowing demand in the country, as Asian and European automakers aggressively ramp up vehicle production in North America, including a new investment by Daimler.
Daimler AG is investing an additional $1 billion in its U.S. factory in Vance, Ala., expanding the 20-year-old site to build fully electric utility vehicles under its EQ subbrand along with their battery packs.
The stadium sponsorship will put the Mercedes brand in front of millions of football, soccer and music fans. Those fans include many younger consumers who may not realize the breadth of the brand's expanding lineup.
UPS will be the first U.S. commercial customer for Daimler's new battery-powered eCanter truck, and the company will expand electric truck output as lower cost, longer-range batteries become available within two to three years.
Ferrari has introduced its new "entry-level" Portofino supercar that costs $234,000, while Mercedes has revealed the Project One concept, which will have a sticker price of $2.5 million, as the two automakers vie for the world's most lucrative customers.