In the context of our growth strategy, we aim to make good use of the opportunities presented by the global automotive markets. At the same time, we intend to play a major role in the fundamental technological change in the automotive industry, and to assume a leading role with digitization. This requires substantial investment in innovative products and new technologies as well as in the expansion of our worldwide production network. In 2015, we therefore once again increased our investment in property, plant and equipment – as already announced in Annual Report 2014 – from an already high level to €5.1 billion (2014: €4.8 billion).
At December 31, 2015, financial obligations of €2.2 billion exist in connection with future investments in property, plant and equipment.
B.30 Investment in property, plant and equipment by division
|In millions of euros||% change|
|in % of revenue||3.4||3.7|
|in % of revenue||4.3||4.9|
|in % of revenue||3.0||2.4|
|in % of revenue||1.8||3.0|
|in % of revenue||2.5||2.5|
|Daimler Financial Services||30||23||+30|
|in % of revenue||0.2||0.1|
At Mercedes-Benz Cars, investment in property, plant and equipment of €3.6 billion in 2015 was on prior year level. The most important projects included the GLC and GLE SUVs and the new E-Class family. We also made substantial investments in the reorganization of our German production facilities as competence centers and in the expansion of our international production network. Following the completion of the Euro VI product offensive, the main areas of investment at Daimler Trucks in 2015 were to extend technological leadership and to adapt production capacities to the high demand. Total investment in property, plant and equipment at Daimler Trucks increased to €1.1 billion. At the Mercedes-Benz Vans division, the focus of investment was on the next-generation Sprinter, the new midsize pickup and production preparations for the new Vito in Latin America. The main investments at Daimler Buses were in new products and the modernization and expansion of the production facilities.
In addition to capital expenditure on property, plant and equipment, we also invested in associated companies and joint ventures in 2015.
Together with Audi and BMW, we acquired the digital mapping business HERE in 2015. The digital maps from HERE are the basis for new assistance systems going as far as fully automated driving. Daimler’s share of the purchase price is approximately €0.7 billion.
Furthermore, we capitalized development costs of €1.8 billion in 2015 (2014: €1.1 billion); this is presented under intangible assets. (See Sustainability)