Daimler to Invest Over $5 Billion in China, US

BY CHRISTOPH RAUWALD AND NICO SCHMIDT

FRANKFURT—Daimler AG’s Mercedes-Benz Cars division said Wednesday it will invest €2 billion ($2.67 billion in China and more than $2.4 billion in the U.S. as part of plans to reclaim the top spot in the global luxury-car segment by 2020.

«We safeguard the way to the top through extensive investments on the expansion of our…production network,» Daimler executive board member Wolfgang Bernhard said in a corporate newsletter.

Mr. Bernhard’s comments mark the first time the German automotive giant has quantified how much it plans to spend on its ambitious expansion program, though it has announced various projects to expand its …

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