German automaker Daimler has announced that it will be laying off workers to save more than €1 billion by 2022, citing the global auto slowdown and the €870 million fine it had to pay in September for selling vehicles that exceeded emissions limitations. Daimler will also be channeling resources to expand its range of plug-in hybrids and all-electric vehicles, trying to keep up with Volkswagen, which is quickly becoming one of the largest stakeholders in the electrification landscape. With the now-announced entry of Tesla into the German market, the onus is on Daimler to get its foot in the door....
