© Lennart Preiss/GettyThe German giant is spinning off the world's biggest truck and bus maker.
Welcome to The Grid, R&T's quick roundup of the auto industry and motorsports news you should know this morning.
Daimler Spinning Off Truck Business
Daimler, the parent company of Mercedes-Benz, is restructuring itself. Seeking to court investors looking for a pure luxury automaker and electric vehicle play, it's spinning off its gigantic trucking unit, according to Reuters>>>P. Daimler Trucks, the largest commercial truck and bus manufacturer in the world, would see a majority of its shares divvied up between current Daimler shareholders. As a whole, the move may allow Mercedes-Benz to position itself on the market as a direct Tesla rival, perhaps attracting investors scared off by a Tesla valuation that's higher than the 10 largest automakers put together. The new company will be called Mercedes-Benz, replacing the Daimler name, according to Automotive News.
Gallery: GM Carbon Neutral Announcement (motor1)
The Chip Shortage Is Going to Stunt the Auto Industry's Recovery, Bosch Says
There's a worldwide microchip shortage that's threatening the auto industry. Many automakers have already had to cut production, leading to a group of U.S. senators asking the White House to move to alleviate the issue>>>P. They argued that the shortage could dampen the auto industry's recovery, among other key industries. Bosch, the world's largest automotive supplier, thinks the same. As Automotive News reports>>>P, the German supplier believes that 85 million cars will be sold this year. That's above last year's 78 million, but below 2019's 92 million. That's because, in Bosch's estimation, the pandemic and the shortage will still weigh down sales this year.
GM Cuts Output at Four Plants Due to Chip Shortage
Speaking of which, General Motors is reducing output at four plants due to chip shortages, Automotive News reports>>>P. Faced with a stunted supply of semiconductors used in its cars, the giant is trimming output at four factories in Kansas, Canada, Mexico, and South Korea. Production cuts will affect the supply of the Chevy Malibu, Chevy Equinox, Buick Encore, Cadillac XT4, and GMC Terrain. GM says its focus is on keeping production running at full speed for its most profitable products, like the Silverado and Corvette>>>P.