Daimler balances profit and EV push

• The huge electrification push by Daimler (OTCPK:DDAIF) has created an "extreme challenge" in balancing investments, according to CEO Dieter Zetsche.
• The global automaker will pull back on some capital spending on plants and new equipment in order to hit a capex spending target of €12B-€13B from €14B last year,
• At least ten new EV models are planned by the company under the Mercedes and Smart nameplates, while a whole new EV sub-brand is also in the mix.