Advertisement
Singapore markets open in 6 hours 21 minutes

  • Straits Times Index

    3,293.13
    +20.41 (+0.62%)
     

  • S&P 500

    5,064.02
    -6.53 (-0.13%)
     

  • Dow

    38,454.40
    -49.29 (-0.13%)
     

  • Nasdaq

    15,681.97
    -14.67 (-0.09%)
     

  • Bitcoin USD

    64,645.31
    -2,094.61 (-3.14%)
     

  • CMC Crypto 200

    1,397.79
    -26.31 (-1.85%)
     

  • FTSE 100

    8,040.38
    -4.43 (-0.06%)
     

  • Gold

    2,334.50
    -7.60 (-0.32%)
     

  • Crude Oil

    82.81
    -0.55 (-0.66%)
     

  • 10-Yr Bond

    4.6600
    +0.0620 (+1.35%)
     

  • Nikkei

    38,460.08
    +907.92 (+2.42%)
     

  • Hang Seng

    17,201.27
    +372.34 (+2.21%)
     

  • FTSE Bursa Malaysia

    1,571.48
    +9.84 (+0.63%)
     

  • Jakarta Composite Index

    7,174.53
    +63.72 (+0.90%)
     

  • PSE Index

    6,572.75
    +65.95 (+1.01%)
     

Daimler to focus Smart brand on electric cars in U.S., Canada - report

Reuters
Dietmar Exler, president and chief executive officer of Mercedes-Benz USA LCC speaks during the media preview of the 2016 New York International Auto Show in Manhattan, New York March 23, 2016. REUTERS/Eduardo Munoz

FRANKFURT (Reuters) - Daimler (DAIGn.DE) will stop selling cars under the Smart brand with combustion engines to focus on electric cars, Frankfurter Allgemeine Zeitung reported, citing a letter that Mercedes-Benz USA sent to dealerships.

Dietmar Exler, head of Mercedes-Benz USA, said in his letter that the sale of Smart cars with combustion engines would stop in September, the paper reported in its Tuesday edition.

It added that the carmaker would sell battery-powered versions of its Fortwo and Fortwo convertible models.

Daimler was not immediately available for comment.

Mercedes-Benz USA sold 6,211 Smart cars last year, compared with global sales of Smart branded vehicles of 144,479. Daimler's group deliveries, including its premium Mercedes brand, stood at 2.1 million in 2016.

(Reporting by Maria Sheahan; Additional reporting by Edward Taylor; Editing by Tom Heneghan)