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1、Annual Report 2023Contents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Further Information Annual Report 2023|Mercedes-Benz Group2Contents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements F

2、urther Information Annual Report 2023|Mercedes-Benz Group2 5 TO OUR SHAREHOLDERS 30 COMBINED MANAGEMENT REPORT 162 CORPORATE GOVERNANCE 194 CONSOLIDATED FINANCIAL STATEMENTS 336 FURTHER INFORMATIONTO OUR SHAREHOLDERS Contents To Our Shareholders Combined Management Report Corporate Governance Consol

3、idated Financial Statements Further Information Annual Report 2023|Mercedes-Benz Group5TO OUR SHAREHOLDERS 6 Letter from the CEO 8 The Board of Management 9 Report of the Supervisory Board 18 The Supervisory Board 20 Objectives and Strategy 21 Mercedes-Benz Cars Strategy 24 Mercedes-Benz Vans Strate

4、gy 26 Mercedes-Benz Mobility StrategyContents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Further Information Letter from the CEO Annual Report 2023|Mercedes-Benz Group6Letter from the CEO Ola KlleniusChairman of the Board of Management of Me

5、rcedes-Benz Group AG Letter from the CEOthe year 2023 was characterized by challenging geo-political developments and volatile markets.We were able to assert ourselves strongly in this environment.This is also reflected in our balance sheet.We also continued to make progress in the implementation of

6、 our strategy.Our company has shown that we can achieve solid financial results even under difficult conditions.In 2023 sales of all-electric cars of the Mercedes-Benz brand increased by 73%.The proportion of electrified vehicles in total car sales was 20%.Mercedes-Benz Group AG has also initiated i

7、mportant projects to expand the charging infrastructure in our core markets.The direct sales model was rolled out in additional markets.Fol-lowing the introduction of our conditionally automated driver assistance system in the United States,we also received approval to test the technology for motorw

8、ay use in Beijing.Moreover,we were able to achieve another significant part of our targeted reduction in fixed costs.These successful developments are also reflected in our annual results.Our revenue amounted to 153 billion.However,EBIT fell by 4%to 19.7 billion.Our net liquidity in the industrial b

9、usiness was 31.7 billion.The bottom line was a net profit of 14.5 billion.The Board of Management and the Supervisory Board will recommend a dividend of 5.30 per share to the Annual General Meeting.These figures are the result of the exceptional commit-ment of our employees.Without their dedication

10、and ability the successes of the year 2023 would not have been possible.The thanks of the entire Board of Man-agement goes to all of our colleagues.Looking ahead,what topics are on our agenda?We want to take our customers brand experience to the next level.To this end,we are redesigning our showroom

11、s all over the world.We are also expanding our global network of exclusive locations,through which we want to make our brands even more tangible.To ensure maximum convenience and full transparency for car purchasing,we are continuing to roll out our direct sales model.For an outstanding product Dear

12、 Shareholders,Contents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Further Information Letter from the CEO Annual Report 2023|Mercedes-Benz Group7experience with electric vehicles,the charging infra-structure is crucial.Thats why we are build

13、ing our own fast-charging network.We want to install more than 10,000 charging points in our core markets by the end of the decade.The aim of all these measures is to fulfil our brand promise at all points of contact with our customers and create special Mercedes moments.In our view,our most importa

14、nt task is to build the worlds most desirable vehicles.The focus is on the upper end of the segments in which we are represented.Thats why we are taking targeted steps to strengthen our portfolio in 2024.The premire of our electric G-Class will be a highlight.We are also launching the Maybach versio

15、n of the EQS SUV in key markets.At AMG,we are presenting further variants of our new top-of-the-line AMG GT model.And at Mercedes-Benz,we are further enhancing the substance of our electric cars in the luxury segment in areas ranging from efficiency and comfort to design.The pace of the transformati

16、on to electric mobility is determined by market conditions and our customers requirements.We will be prepared for every kind of market scenario.The motto for the production of our vehicles with combustion engines is“tactical flexibility”.When it comes to electric mobility,our strategic course is to

17、create the preconditions for becoming all-electric.We have laid the foundations for this course.The devel-opment of multiple new vehicle platforms is in full swing.This will take our electric cars and vans to the next level.We will start in the entry-level segment in 2025 with the new electric CLA.T

18、his will set new stand-ards in terms of range,efficiency and charging speed.At the same time,our own operating system MB.OS will celebrate its premire.Thus we will also reach an important milestone in terms of software.Our custom-ers can now look forward to an even more natural,more personal and mor

19、e extensive interaction with their Mercedes-Benz.In 2023 we made our company even more resilient and achieved significant strategic progress.In addition,we can build on an outstanding brand and a powerful team.All of these are excellent prerequisites for our ongoing promotion of the profitable,all-e

20、lectric and software-driven future of Mercedes-Benz.We would be delighted to have you accompany us on this journey.Sincerely yours,Ola KlleniusContents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Further Information The Board of Management An

21、nual Report 2023|Mercedes-Benz Group8The Board of Management w Further information on the members of the Board of Management of Mercedes-Benz Group AGOla KlleniusChairman of the Board of Management Appointed until May 2029Markus SchferChief Technology Officer,Development&ProcurementAppointed until M

22、ay 2026Dr Jrg BurzerProduction,Quality&Supply Chain Management Appointed until November 2029Britta SeegerMarketing&Sales Appointed until December 2029Renata Jungo BrnggerIntegrity,Governance&Sustainability Appointed until December 2025Hubertus TroskaGreater ChinaAppointed until December 2025Sabine K

23、ohleisenHuman Relations&Labour Director Appointed until November 2025Harald WilhelmFinance&Controlling/Mercedes-Benz Mobility Appointed until March 2027Contents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Further Information Report of the Sup

24、ervisory Board Annual Report 2023|Mercedes-Benz Group9Report of the Supervisory Board2023 was a year full of challenges for Mercedes-Benz Group and the entire automotive industry.The market environment was demanding,and a large number of external factors influenced the economy,presenting employees w

25、ith complex tasks.Against this backdrop,the past year has clearly proven that the true strength of a team only becomes apparent when the headwinds increase.The team at Mercedes-Benz Group has once again proven that it is one of the best and I would like to take this opportunity to express my sincere

26、 gratitude to all employees for their out-standing commitment and dedication.In 2024,the company will continue to drive the trans-formation in line with its sustainable business strategy.Whether equipped with a all-electric drivetrain or a combustion engine Mercedes-Benz Group is commit-ted to offer

27、ing its customers the most desirable cars in the world.And I am convinced that such cars will continue to be recognized by the Mercedes star in the future.Supervisory and advisory activities of the Supervisory BoardIn the 2023 financial year,the Supervisory Board of Mercedes-Benz Group AG again perf

28、ormed,in full,the duties incumbent upon it by law,the articles of associa-tion and the rules of procedure.In this context,the Supervisory Board continuously advised and monitored the Board of Management in the management of the company and provided support on strategically important issues for the f

29、urther devel-opment of the company.The Supervisory Board reviewed whether the individual company and Consolidated Financial Statements,the Combined Management Report including the Non-Financial Declaration and the other financial reporting complied with the applicable requirements.Furthermore,after

30、careful review and consultation,it approved numerous business transactions subject to its consent.This related in particular to the approval of the establishment of a Europe-wide high-performance charging network under the Mercedes-Benz brand.It also included financial and investment planning,produc

31、t Dr Ing.e.h.Dipl.-Ing.Bernd PischetsriederChairman of the Supervisory Board of Mercedes-Benz Group AGDear Shareholders,Contents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Further Information Report of the Supervisory Board Annual Report 202

32、3|Mercedes-Benz Group10projects,cooperation projects and the con clusion of contracts of particular importance to the company.The Board of Management informed the Supervisory Board about a large number of other measures and business transactions and discussed them intensively and in detail with the

33、Supervisory Board;for example,the effects on the company of supply bottlenecks for certain battery systems as well as the initiated counter-measures.The Board of Management regularly informed the Supervisory Board about all significant business devel-opments of the Group and the divisions.During the

34、 reporting period,it kept the Supervisory Board continu-ously informed about all fundamental issues regarding corporate planning,including financial,investment,sales and personnel planning;current developments at Group companies;the development of revenue;the sit-uation of the company and the divisi

35、ons;the economic and political environment;and the current status and assessment of significant legal proceedings.In addition,the Board of Management continuously reported to the Supervisory Board on the profitability and liquidity situ-ation of the company,the development of sales and procurement m

36、arkets,the overall economic situation and developments on the capital markets and in the financial services sector.Other topics included the fur-ther development of the product portfolio,securing the long-term competitiveness of the company and the further implementation of measures to ensure sustai

37、na-ble,future-oriented mobility.The Supervisory Board also dealt in detail with the political developments and conflicts in the main sales markets and the reaction to them in terms of business policy,the shareholder struc-ture,the share-price development and its background,as well as the expected ef

38、fects of the strategic projects on the share-price development.Working culture and areas of Supervisory Board activityIn the 2023 financial year,the Supervisory Board held seven meetings.Six meetings were held in person,with the option of participation in virtual form or via tele-phone,and one meeti

39、ng was held as a video confer-ence.Meeting attendance by the members was at a very high level,as can be seen in the detailed overview at the end of this report.The work of the Supervisory Board was characterized by open and intensive dia-logue.The members of the Supervisory Board regularly prepared

40、for upcoming resolutions using documents provided in advance by the Board of Management.The employee and shareholder representatives also regu-larly prepared the meetings in separate discussions,which were also attended by members of the Board of Management.In addition,the Supervisory Board was supp

41、orted in depth by its Committees.At the meetings of the Supervisory Board,its members discussed the measures and transactions to be resolved in detail with the Board of Management.Executive sessions were regularly scheduled for the meetings so that topics could be discussed also in the absence of th

42、e Board of Management.The Supervisory Board was informed of special events outside the regular meetings.In addition,some members of the Supervisory Board and the Board of Management held bilateral meetings to exchange views.The Board of Management also informed the Super-visory Board of the key indi

43、cators of the business development and of existing risks by means of written reports.The members of the Supervisory Board assume respon-sibility for their training and further education measures in areas such as changes in the legal framework and new,forward-looking technologies that are required fo

44、r the performance of their tasks and are supported in this by the company.In the reporting period,for example,the company held information events on sustainable corporate governance and sustainability reporting as well as on the Mercedes-Benz operating system MB.OS.Both internal and external experts

45、 were involved in these events.In addition,new members of the Supervi-sory Board have the opportunity to meet the members of the Board of Management and senior executives with specialist responsibility in a specifically designated onboarding programme for a bilateral exchange on fun-damental and cur

46、rent topics in respect of the relevant areas of the Board of Management,thus gaining an overview of the topics relevant to the company and of the governance structure.ESG(environmental,social and governance)and sustainability-related thematic blocks are also an integral part of this programme.Fur-th

47、ermore,the members of the Supervisory Board are regularly informed about the regulatory environment relevant to their work on the Supervisory Board and other legal developments affecting them.Contents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statemen

48、ts Further Information Report of the Supervisory Board Annual Report 2023|Mercedes-Benz Group11At its meeting on 16 February 2023,the Supervisory Board was first informed about the current financial status,volumes and prices of the vehicle clusters in the current and future Mercedes-Benz Cars portfo

49、lio.In the presence of representatives of the auditor,the Supervi-sory Board then discussed the preliminary key figures of the 2022 company and Consolidated Financial State-ments as well as the preliminary proposal to the 2023 Annual General Meeting for the appropriation of profits and noted them wi

50、th approval.The Supervisory Board determined that there were no objections to their publi-cation.The preliminary key figures for the 2022 financial year and the preliminary proposal for the appropriation of profits were published at the annual press confer-ence on 17 February 2023.The Supervisory Bo

51、ard also passed resolutions relating to a number of other meas-ures subject to its approval.To optimize the capital structure,the Supervisory Board approved the Board of Managements plan to buy back up to 4 billion worth of the companys own shares via the stock exchange over a period of up to two ye

52、ars and subsequently can-cel them.This was done on the basis of the authoriza-tion granted by the Annual General Meeting on 8 July 2020.In addition,the Board of Management provided information on the status of the fulfilment of the settle-ment in connection with diesel emissions agreed with the US a

53、uthorities.Moreover,the body dealt with the remuneration of the Board of Management on the basis of the remuneration system to be approved by the Annual General Meeting.At the meeting on 13 March 2023,the Supervisory Board discussed the Annual Financial Statements,the Consolidated Financial Statemen

54、ts and the Combined Management Report,including the Non-Financial Dec-laration for the 2022 financial year of Mercedes-Benz Group AG and the Group,each of which had been issued with an unqualified audit opinion by the auditor,as well as the Declaration on Corporate Governance,the Remuneration report

55、,and the proposal for the appropriation of profits.The members of the Supervi-sory Board were provided with extensive documenta-tion for their preparation.The Audit Committee and the Supervisory Board reviewed these documents in detail and discussed them intensively in the presence of the auditors,w

56、ho reported on the results of their audit and also addressed the key audit matters and the relevant audit procedures,including the conclusions drawn,and were available for additional questions and information.Following the final result of the review by the Audit Committee and its own review,the Supe

57、rvisory Board concurred with the result of the audit by the auditor.It determined that there were no objections to be raised and adopted the Annual Financial Statements prepared by the Board of Management and the Com-bined Management Report,including the Non-Financial Declaration.The 2022 company fi

58、nancial statements of Mercedes-Benz Group AG were thus adopted.On this basis,the Supervisory Board endorsed the proposal of the Board of Management for the appropriation of dis-tributable profits.The Supervisory Board also adopted the Report of the Supervisory Board,the Declaration on Corporate Gove

59、rnance and the Remuneration Report,as well as its proposed resolutions on the agenda items for the 2023 Annual General Meeting.In order to meet the expectations of investors to improve shareholder participation,it was decided,among other things,to again publish a letter from the Supervisory Board Ch

60、airman to shareholders concerning a number of gov-ernance issues in the run-up to the Annual General Meeting.At its meeting on 28 April 2023,the Supervisory Board received reports on the supply situation for certain bat-tery systems and the measures that were taken.The Board of Management also provi

61、ded information on the positive reactions to the companys ESG conference for investors and analysts,which was held on 30 March 2023.The Supervisory Board also received a status update on vehicle IT security and discussed findings from cyber incidents at other commercial enterprises.The Chief Officer

62、 Corporate Data Protection also reported on the Data Compliance Management System,the opportunities and risks of using artificial intelli-gence and dealing with digital risks.The Supervisory Board then discussed ESG management within the company in detail,in particular the further integration of sus

63、tainability into the companys structures and core processes.The Supervisory Board subsequently approved the development of a wind farm project as part of a power purchase agreement at the test site in Papenburg in northern Germany.Finally,the Supervi-sory Board also discussed current legal issues.Co

64、ntents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Further Information Report of the Supervisory Board Annual Report 2023|Mercedes-Benz Group12At the virtual Annual General Meeting on 3 May 2023,the candidate proposed by the Supervisory Board

65、,Ste-fan Pierer,was elected to the Supervisory Board as a shareholder representative.At the subsequent Supervi-sory Board meeting,I proposed to the Supervisory Board,in the interests of long-term,orderly succession planning,that Dr Martin Brudermller be elected Chair-man of the Supervisory Board aft

66、er my term of office expires at the end of the Annual General Meeting in 2024.Ergun Lmali was confirmed as Deputy Chairman of the Supervisory Board.This was done in view of the election of employee representatives that was held before the 2023 Annual General Meeting.In addition,elections were held t

67、o fill vacancies on the committees of the Supervisory Board.The Supervisory Board held another meeting at the end of July 2023.At this meeting,the Supervisory Board and the Board of Management discussed in detail the course of business and the results of the first half of the year.In addition,the bo

68、dy decided to adjust the remuneration of the Board of Management on the basis of the remuneration system approved by the Annual General Meeting.Moreover,the Supervisory Board was informed about current legal issues and the status of the fulfilment of the settlement in connection with die-sel emissio

69、ns agreed with the US authorities.Strategy meeting of the Supervisory BoardAt the start of the two-day strategy meeting on 27/28 September 2023,the Supervisory Board was informed about the current situation of the company.As part of the ESG reporting,the Board of Management then reported on overarch

70、ing topics,the latest devel-opments,objectives and selected key topics related to“E”,“S”and“G”.The Supervisory Board also decided on product projects and an investment project subject to its approval.The meeting focused on the companys strategy and,in particular,its implementation.Topics discussed i

71、ncluded the product and innovation strategy,offering a holistic customer experience along the entire customer journey,transforming and empowering the workforce for the future and securing industrial com-petitiveness.With the involvement of the responsible executives,the members of the Supervisory Bo

72、ard and the Board of Management discussed in a constructive and open dialogue how the Mercedes-Benz Group will adapt to new challenges and which opportunities are to be exploited.Sustainability-related aspects,such as challenges in the implementation of human rights due diligence in the supply chain

73、s for production materials,were an integral part of the discussions.The capital market perspective was also taken into account.By way of resolution with the aid of other customary means of communication,on 23 October 2023 the Supervisory Board approved the Board of Manage-ments plans to establish a

74、Europe-wide high-perfor-mance charging network under the Mercedes-Benz brand.Corporate planning meeting (Mercedes-Benz business planning)At the meeting on 13 December 2023,the Supervisory Board discussed and approved the Mercedes-Benz business planning on the basis of comprehensive docu-mentation an

75、d discussed existing opportunities and risks in connection therewith.The agenda also included the Board of Managements report on the current finan-cial status,volumes and prices of the vehicle clusters in the current and future Mercedes-Benz Cars portfolio and the Supervisory Boards resolution on se

76、veral measures subject to its approval.The body also dis-cussed the Board of Managements report on the devel-opment of current and completed acquisitions and collaborations and was informed about the results of the employee survey conducted in 2023.Other topics discussed at the meeting included remu

77、neration issues,corporate governance matters and legal issues.Corporate governance and declaration of complianceDuring the 2023 financial year,the Supervisory Board continuously addressed the standards of good corpo-rate governance.In order to take account of the constantly growing com-plexity and i

78、ncreasing legal relevance of sustainabili-ty-related issues and to create a central point of con-tact for all relevant stakeholders,the Supervisory Board decided in July 2023 to establish a cross-divisional steering and coordination function for sustainability management in the company at the Board

79、of Manage-ment level.Renata Jungo Brngger took over Contents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Further Information Report of the Supervisory Board Annual Report 2023|Mercedes-Benz Group13responsibility for this on 1 August 2023,and

80、her division has since been designated Integrity,Governance&Sus-tainability(previously:Integrity&Legal).Responsibility for the management of division-specific sustainability issues remains with the respective Board of Manage-ment divisions.In my function as Chairman of the Supervisory Board,I held d

81、iscussions with investors and proxy advisors on Supervisory Board-specific topics such as Board of Management remuneration and the work and composi-tion of the Supervisory Board and its committees as part of the investor dialogue in the run-up to the Annual General Meeting.In December 2023,the Super

82、visory Board adopted the regular 2023 declaration of compliance.With the exceptions explained there,all recommendations of the Code have been and are being complied with.In the interests of good corporate governance,the members of the Supervisory Board of Mercedes-Benz Group AG are required to discl

83、ose to the Supervisory Board as a whole any conflicts of interest,in particular those that could arise as a result of an advisory or board function with customers,suppliers or lenders of Mercedes-Benz Group AG or other third parties.There were no indications of actual conflicts of interest during th

84、e 2023 financial year.The Supervisory Board regularly assesses how effec-tively the Supervisory Board and its committees perform their duties.In the reporting period,a compre-hensive self-assessment of the Supervisory Board and its committees took place with the involvement of an external consultant

85、 on the basis of an extensive ques-tionnaire and additional interviews carried out.The Board of Managements perspective was also included in this assessment.The results of the audit,which the Supervisory Board dealt with extensively at its meeting on 21 February 2024,confirm that the members of the

86、Supervisory Board cooperate very effectively and pro-fessionally with one another and with the Board of Management and do so on a basis of great trust.The Audit Committee also conducted a self-evaluation of its activities on the basis of a comprehensive compa-ny-specific questionnaire in 2023.The po

87、sitive results of this self-assessment were presented and discussed at the Audit Committee meeting on 21 February 2024.German Act on the Equal Participation of Women and Men in Leadership PositionsFor supervisory boards of listed companies subject to codetermination and equal representation of share

88、-holders and employees on the supervisory board,such as that of Mercedes-Benz Group AG,the German Stock Corporation Act(AktG)prescribes a mandatory gender quota of at least 30%.The quota is to be met by the Supervisory Board as a whole.As at 31 December 2023,women make up 30%of the shareholder side

89、of the Supervisory Board of Mercedes-Benz Group AG(Liz Centoni,Dame Polly Courtice and Professor Dr Helene Svahn),while the remaining 70%are men.On the employee side,Nadine Boguslawski,Gabriela Neher and Monika Tielsch make up 30%women and the remaining 70%are men.Thus the Supervisory Board as a who

90、le also fulfils the statutory quota.At its meeting on 13 December 2023,the Supervisory Board decided on the recommendation of the Nomina-tion Committee,to propose to the 2024 Annual General Meeting that Dr Doris Hpke be elected to the Supervi-sory Board for the first time.If the proposed female cand

91、idate is elected,the proportion of women on the shareholder side will increase to 40%.The statutory gender quota would remain fulfilled both on the share-holder side and for the Supervisory Board as a whole.On 3 December 2020,the Supervisory Board set a tar-get for the proportion of women on the Boa

92、rd of Man-agement of at least 25%by 31 December 2025.Since August 2022,a legally mandated minimum participation requirement must be complied with when appointing members of the Board of Management.This require-ment stipulates that at least one woman(and at least one man)must be a member of the Board

93、 of Manage-ment in listed companies with parity participation and more than three members on the Board of Management.Companies that are subject to the minimum proportion requirement are no longer obliged to set a target quota for the proportion of women on the board of manage-ment.Nevertheless,withi

94、n the framework of the overall requirements profile for appointments to the Board of Management,the Supervisory Board has decided to go beyond the stipulations of the minimum proportion Contents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Fur

95、ther Information Report of the Supervisory Board Annual Report 2023|Mercedes-Benz Group14requirement and maintain the target quota for the pro-portion of women on the Board of Management that was set in 2020.As at 31 December 2023,three of the eight members of the Board of Management are women:Renat

96、a Jungo Brngger,Sabine Kohleisen and Britta Seeger.The proportion of women on the Board of Management is now 37.5%,which means it exceeds the target that was set.Corporate governance at the Mercedes-Benz Group is explained in detail in the Declaration on Corporate Gov-ernance.Work in the committeesT

97、he Presidential Committee held four meetings in the past financial year.Two of the meetings were held in person and two meetings were held as video confer-ences.In particular,the Committee discussed person-nel matters and succession planning for appointments to the Board of Management.Furthermore,th

98、e Presi-dential Committee discussed the acceptance by mem-bers of the Board of Management of board positions at other companies and institutions,corporate govern-ance issues,D&O insurance and remuneration issues.The Audit Committee held six meetings in the year 2023.Five meetings were held in person

99、,with the option of participation in virtual form or via telephone,and one meeting was held as a video conference.Fur-ther details of the Audit Committees work can be found in the Report of the Audit Committee.The Legal Affairs Committee held four meetings in the year 2023.One meeting was held in pe

100、rson,with the option of participation in virtual form or via telephone,and three meetings were held as video conferences.In those meetings,the Committee was informed in detail about legal matters relating to emissions and cartels and discussed these matters in the presence of the legal advisers of t

101、he Supervisory Board.It discussed the continuing further development of the technical compliance management system,also with respect to future technologies.The Committee received reports on the progress of the review of potential responsibilities in connection with diesel emissions and anti-trust ma

102、t-ters from the legal advisers engaged for this purpose by the Supervisory Board.The Committee regularly reported to the Supervisory Board on its work and,after discussing and weighing the relevant aspects,made recommendations for resolutions to the Supervisory Board,taking the Groups best interests

103、 into account.The Committee also discussed the risks of a limitation of possible liability and took appropriate measures in the cases in point.As part of the settlement reached with the US authorities in connection with diesel emis-sions,the Committee was assigned specific tasks and decision-making

104、competences with regard to the fulfil-ment of the obligations assumed in the settlement.The Committee also fulfilled these tasks in full and with great care.The Nomination Committee held two meetings in the 2023 financial year,both of them as video conferences.The Committee specifically considered t

105、he recommen-dations for the proposals of the Supervisory Board to the Annual General Meeting regarding the election of shareholder representatives to the Supervisory Board.In this context,it was guided by the interests of the company,taking all circumstances of the individual case into account,and s

106、triving to fulfil the overall pro-file of requirements,along with the diversity concept and competence profile for the entire Supervisory Board.During the reporting period,there was no reason to convene the Mediation Committee.Changes in the Supervisory Board and the Board of ManagementSeveral membe

107、rs of the Board of Management were reappointed in the course of the financial year.The reappointment periods are in line with the Supervisory Boards guidelines on the appointment and reappoint-ment of members of the Board of Management.At its meeting on 16 February 2023,the Supervisory Board appoint

108、ed Renata Jungo Brngger as a member of the Board of Management of Mercedes-Benz Group AG with effect from 1 January 2024 for a further one-year term.At the virtual Annual General Meeting on 3 May 2023,the candidate proposed by the Supervisory Board on the recommendation of the Nomination Committee,S

109、tefan Pierer,was elected to the Supervisory Board.Sari Baldauf on the shareholder side and Michael Brecht and Elke Tnjes-Werner on the employee side left the Supervisory Board at the end of the Annual General Contents To Our Shareholders Combined Management Report Corporate Governance Consolidated F

110、inancial Statements Further Information Report of the Supervisory Board Annual Report 2023|Mercedes-Benz Group15Meeting.In the elections of employee representatives held prior to the Annual General Meeting,Gabriela Neher and Michael Peters were elected as members of the Supervisory Board for the fir

111、st time,in addition to the re-elected employee representatives,with effect from the end of the Annual General Meeting.In the Supervisory Board meeting that followed the Annual General Meeting,Ergun Lmali was confirmed as Dep-uty Chairman of the Supervisory Board and thus Deputy Chairman of the Media

112、tion and Presidential Commit-tees.Elections were also held for other committee appointments.At the Supervisory Board meeting on 27 July 2023,Ola Kllenius was reappointed as Chairman of the Board of Management for a further five years with effect from 22 May 2024 and Markus Schfer was reappointed as

113、Chief Technology Officer,Development&Procurement in line with the Supervisory Boards guidelines on the appointment and reappointment of members of the Board of Management for another two years,also with effect from 22 May 2024.In December 2023,the Supervisory Board decided to appoint Sabine Kohleise

114、n as a member of the Board of Management responsible for Human Resources and Labour Director in line with the Supervisory Boards guidelines on the appointment and reappointment of members of the Board of Man-agement for a further year with effect from 1 December 2024 and Dr Jrg Burzer as a member of

115、 the Board of Management responsible for Production,Quality&Sup-ply Chain Management for a further five years,also with effect from 1 December 2024.At the meeting of the Supervisory Board on 21 February 2024,Britta Seeger was appointed as a member of the Board of Manage-ment with responsibility for

116、Marketing&Sales with effect from 1 January 2025 for a further five-year term and Renata Jungo Brngger as a member of the Board of Management with responsibility for Integrity,Govern-ance&Sustainability with effect from 1 January 2025 in line with the Supervisory Boards guidelines on the appointment

117、and reappointment of members of the Board of Management for a further one-year term.Audit of the individual company and Consolidated Financial StatementsThe Annual Financial Statements of Mercedes-Benz Group AG and the Combined Management Report for Mercedes-Benz Group AG and the Group for 2023 were

118、 duly audited by KPMG AG Wirtschaftsprfungs-gesellschaft,Berlin,and issued with an unqualified audit opinion.This also applies to the 2023 Consoli-dated Financial Statements compiled in accordance with IFRS.In a meeting of the Supervisory Board on 21 February 2024,the preliminary key figures of the

119、2023 company and Consolidated Financial Statements as well as the preliminary proposal to the 2024 Annual General Meet-ing for the appropriation of profits were discussed and noted with approval in the presence of representatives of the auditor.The Supervisory Board determined that there were no obj

120、ections to their publication.The pre-liminary key figures for the 2023 financial year and the preliminary proposal for the appropriation of profits were published at the annual press conference on 22 February 2024.In the same meeting,the Supervisory Board also approved the further share buyback pro-

121、gramme proposed by the Board of Management.In March 2024,the Supervisory Board discussed the Annual Financial Statements,the Consolidated Finan-cial Statements and the Combined Management Report,including the Non-Financial Declaration for Mercedes-Benz Group AG and the Group as well as the Declara-t

122、ion on Corporate Governance,the Remuneration report,and the proposal for the appropriation of profits.The members of the Supervisory Board were provided with extensive documentation for their preparation,including the Annual Report with the Consolidated Financial Statements compiled in accordance wi

123、th IFRS,the Combined Management Report including the Non-Financial Declaration for Mercedes-Benz Group AG and the Group,as well as the Declaration on Corporate Governance,the Remuneration report,the Annual Financial Statements of Mercedes-Benz Group AG,the proposal of the Board of Management for the

124、 appropri-ation of profits,the audit opinions of KPMG AG Wirtschaftsprfungsgesellschaft for the Annual Finan-cial Statements of Mercedes-Benz Group AG and the consolidated financial statements,in each case includ-ing the Combined Management Report and information on the accounting-related internal c

125、ontrol system,as well as drafts of the reports of the Supervisory Board and the Audit Committee.The Audit Committee and the Supervisory Board reviewed these documents in detail and discussed them intensively in the presence of the auditors,who Contents To Our Shareholders Combined Management Report

126、Corporate Governance Consolidated Financial Statements Further Information Report of the Supervisory Board Annual Report 2023|Mercedes-Benz Group16reported on the results of their audit and,in particular,addressed the key audit matters and the relevant audit procedures,including the conclusions draw

127、n,and were available for additional questions and information.Following the final result of the review by the Audit Committee and its own review,the Supervisory Board concurred with the result of the audit by the auditor.It determined that there were no objections to be raised and adopted the financ

128、ial statements prepared by the Board of Management and the Combined Management Report,including the Non-Financial Declaration.The 2023 Annual Financial Statements of Mercedes-Benz GroupAG were thus adopted.On this basis,the Super-visory Board endorsed the proposal of the Board of Management for the

129、appropriation of distributable prof-its.The Supervisory Board also adopted the Report of the Supervisory Board,the Declaration on Corporate Governance and the Remuneration report,as well as its proposed resolutions on the agenda items for the 2024 Annual General Meeting.AppreciationThe Supervisory B

130、oard would like to thank the Board of Management members and all employees of the Mercedes-Benz Group for their dedicated contribution to the results of the 2023 financial year.The Supervisory Board would also like to thank Sari Baldauf,Elke Tnjes-Werner and Michael Brecht,who closely supported the

131、company through their dedicated work on the Supervisory Board and left the Supervisory Board last year.Stuttgart,March 2024The Supervisory Board Dr Bernd Pischetsrieder ChairmanContents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Further Info

132、rmation Report of the Supervisory Board Annual Report 2023|Mercedes-Benz Group17Individualized disclosure of attendance at meetings by members of the Supervisory Board of Mercedes-Benz Group AG in the 2023 financial yearPlenary Supervisory BoardPresidential CommitteeAudit CommitteeNomination Committ

133、eeLegal Affairs CommitteeParticipation inmeetingsParticipation rate(in%)Participation inmeetingsParticipation rate(in%)Participation inmeetingsParticipation rate(in%)Participation inmeetingsParticipation rate(in%)Participation inmeetingsParticipation rate(in%)Dr Bernd Pischetsrieder1(Chairman)7/7100

134、4/41002/2100Sari Baldauf(until 3 May 2023)3/3100-Michael Bettag7/7100Ben van Beurden 7/71004/41002/2100Nadine Boguslawski 6/786Michael Brecht(until 3 May 2023)3/31003/3100Dr Martin Brudermller7/71002/2100Liz Centoni 6/7863/475Dame Veronica Anne(“Polly”)Courtice7/71004/4100Marco Gobbetti 7/7100Michae

135、l Hberle7/71004/4100Timotheus Httges7/71005/683Olaf Koch2 7/71006/61004/4100Ergun Lmali7/71004/41006/61004/4100Gabriela Neher(from 3 May 2023)4/4100Michael Peters(from 3 May 2023)4/4100Stefan Pierer(from 3 May 2023)4/4100Roman Romanowski 6/7863/31004/4100Prof.Dr Helene Svahn 7/7100Monika Tielsch 7/7

136、100Elke Tnjes-Werner(until 3 May 2023)3/3100Dr Frank Weber7/7100Roman Zitzelsberger5/7714/41001 Chairman of the Presidential Committee and the Nomination Committee2 Chairman of the Audit Committee and the Legal Affairs CommitteeContents To Our Shareholders Combined Management Report Corporate Govern

137、ance Consolidated Financial Statements Further Information The Supervisory BoardAnnual Report 2023|Mercedes-Benz Group18Dr Bernd PischetsriederChairman of the Supervisory Board of Mercedes-Benz Group AG Elected until 2024Ergun Lmali*Deputy Chairman of the Supervisory Board of Mercedes-Benz Group AG;

138、Chairman of the Group Works Council of Mercedes-Benz Group AG;Chairman of the General Works Council of Mercedes-Benz Group AG;Chairman of the Works Council of Mercedes-Benz Sindelfingen PlantElected until 2028Michael Bettag*Chairman of the Works Council of the Mercedes-Benz Nuremberg Own Retail Bran

139、ch Elected until 2028Ben van BeurdenFormer Chief Executive Officer Shell plcElected until 2025Nadine Boguslawski*Head Treasurer of IG MetallElected until 2028Dr Martin BrudermllerChairman of the Board of Executive Directors,BASF SE Elected until 2025Liz CentoniExecutive Vice President,Chief Strategy

140、 Officer and GM,Applications,Cisco,Inc.Elected until 2025Dame Veronica Anne(“Polly”)CourticeFormer Director of the University of Cambridge Institute for Sustainability LeadershipElected until 2026Marco GobbettiChief Executive Officer of Salvatore Ferragamo S.p.A.Elected until 2026Michael Hberle*Depu

141、ty Chairman of the Group Works Council of Mercedes-Benz Group AG;Deputy Chairman of the General Works Council of Mercedes-Benz Group AG;Chairman of the Works Council at the Mercedes-Benz Untertrkheim PlantElected until 2028The Supervisory Board *Employee representativesw Further information on the m

142、embers of the Supervisory Board of Mercedes-Benz Group AGContents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Further Information The Supervisory BoardAnnual Report 2023|Mercedes-Benz Group19Timotheus HttgesChairman of the Board of Management

143、 of Deutsche Telekom AG Elected until 2025Olaf KochPartner and Managing Director of Zintinus GmbH Elected until 2025Gabriela Neher*Member of the Works Council at the Mercedes-Benz Rastatt PlantElected until 2028(since 3 May 2023)Michael Peters*Chairman of the Works Council of Mercedes-Benz Bremen Pl

144、ant Elected until 2028(since 3 May 2023)Stefan PiererChairman of the Board of Management of Pierer Industrie AGElected until 2027(since 3 May 2023)Roman Romanowski*In-house Legal Conunsel to the Board of Management of IG Metall Elected until 2028Prof.Dr Helene SvahnProfessor in Nanobiotechnology at

145、the Royal Institute of Technology,Sweden Elected until 2025Monika Tielsch*Member of the Works Council at the Mercedes-Benz Sindelfingen Plant(RD)Elected until 2028Dr Frank Weber*Center Manager BodyTEC,Mercedes-Benz AG;Chairman of the Management Representatives Committee,Mercedes-Benz Group Elected u

146、ntil 2028Roman Zitzelsberger*Former IG Metall District Manager Baden-Wrttemberg Elected until 2028Retired from the Supervisory BoardSari BaldaufChair of the Board of Directors of Nokia Oyj Retired on 3 May 2023Michael Brecht*Chairman of the Works Council of the Mercedes-Benz Gaggenau PlantRetired on

147、 3 May 2023Elke Tnjes-Werner*Deputy Chairwoman of the Works Council of the Mercedes-Benz Bremen Plant Retired on 3 May 2023*Employee representativesw Further information on the members of the Supervisory Board of Mercedes-Benz Group AGContents To Our Shareholders Combined Management Report Corporate

148、 Governance Consolidated Financial Statements Further Information Objectives and Strategy Annual Report 2023|Mercedes-Benz Group20Objectives and StrategyAs a pioneer in automobile manufacturing,the Mercedes-Benz Group has set itself the objective of shaping the future of mobility in a safe and susta

149、inable manner.In doing so,the company focuses on innovative and forward-looking technologies and safe high-quality vehicles that fascinate and excite.The Mercedes-Benz Group comprises the automotive business units Mercedes-Benz Cars and Mercedes-Benz Vans as well as Mercedes-Benz Mobility.Each busin

150、ess unit pursues a strategy that is specifically targeted at the market and customers it serves.The strategy in question is based on the principles of sustainability,integrity and diversity and is supported by a highly qual-ified and motivated team.Sustainability,integrity and diversity are the basi

151、s of our conduct at the Mercedes-Benz GroupSustainability at the Mercedes-Benz Group means creating permanent value for all of our stakeholders for our customers,investors and employees and for our business partners and society as a whole.In this pro-cess,economic,environmental and social responsibi

152、lity belong together along the entire value chain.In order to live up to this responsibility,the Mercedes-Benz 1 Net carbon-neutral means that no CO2 emissions are caused or that any CO2 emissions arising are compensated for by certified offset projects.Group utilizes a holistic ESG(environmental,so

153、cial and governance)concept throughout all of its divisions.One of the companys goals here is to reduce CO2 emis-sions per passenger car over the entire vehicle life cycle by the end of this decade by up to 50%as compared to 2020 levels.In addition to the comprehensive use of recycling materials and

154、 renewable energy in production,the integration of renewable energy sources for charg-ing the vehicles and electrification of the vehicle fleet is an important tool for accomplishing this.This is why the Mercedes-Benz Group is taking the necessary steps to go all electric.Customers and market condit

155、ions will set the pace of the transformation.The Mercedes-Benz Group plans to be in a positionto cater to different cus-tomer needs,whether its an all-electric drivetrain ora combustion engine,until well into the 2030s.In addi-tion,the companys factories are retooled to follow demand and can capture

156、 the tipping point into an all-electric era.The Mercedes-Benz Group expects its high power charging network to ease the ramp-up of electromobility.The Group will expand battery produc-tion and open a battery recycling factory to close the loop.The Mercedes-Benz Groups ambition is to make the entire

157、new vehicle fleet net carbon-neutral1 across all stages of the value chain by 2039.This holistic ESG approach is accompanied by social and governance aspects such as the transformation of the workplace and upholding human rights.The Mercedes-Benz Group is convinced that long-term success can only be

158、 achieved by acting in an ethically and legally responsible manner.Integrity is therefore very important to the company.For the Mercedes-Benz Group,ethical behaviour means doing what is right,complying with external and internal rules,following our moral compass and aligning our activities with shar

159、ed values.Diversity is the third foundation of our conduct at the Mercedes-Benz Group.The Group is convinced that sustained success can only be achieved with diverse teams.Through the use of appropriate measures and activities,the Mercedes-Benz Group seeks to foster a work environment that offers eq

160、ual opportunities to all employees.Contents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Further Information Objectives and Strategy Annual Report 2023|Mercedes-Benz Group21Mercedes-Benz Cars StrategyOur goal:we will build the worlds most desi

161、rable carsDriven by a highly qualified and motivated teamSustainability,integrity and diversity as our foundationThinkand act like a luxury brandFocuson profitable growthExpandcustomer base by growing Top-End LuxuryEmbracecustomers and grow lifetime revenuesLeadin electric drive and digital experien

162、ceLowercost base,improve industrial footprint and increase supply chain resilienceSuccessful together with a highly qualified and motivated teamThe commitment of the employees plays a key role in the Mercedes-Benz Groups global success.Indeed,if the transformation is to be successfully shaped,a team

163、 that is ready and willing to embrace change and contin-uously extend its knowledge and skills needs to be in place.The company therefore puts lifelong learning and the further education of employees at the centre of its sustainable personnel development approach.As an attractive employer,the compan

164、y also offers flexible working conditions,varied assignments and a variety of development opportunities in the context of a culture of cooperation based on trust.With its People Princi-ples,the company defines how to communicate,lead and collaborate.Mercedes-Benz Cars StrategyMercedes-Benz Cars goal

165、 is to build the worlds most desirable cars.The division aligns its actions in pursuit of this goal with six strategic pillars.Think and act like a luxury brandLuxury has always been part of Mercedes-Benz DNA,and the companys thoughts and actions will focus even more strongly on it in the future.Mer

166、cedes-Benz Cars claim is to offer the most desirable vehicles on the basis of a combination of pioneering technologies,exceptional aesthetics and integrated sustainability.Contents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Further Informati

167、on Objectives and Strategy Annual Report 2023|Mercedes-Benz Group22In this manner,the company also makes a connection between two essential characteristics its strong roots as an automaker that has created numerous style-de-fining icons,and the pioneering spirit with which Mercedes-Benz Car is drivi

168、ng the further development of the automobile.Mercedes-Benz underscores its role here through its standing as the worlds most valuable luxury automotive brand in the latest Best Global Brands ranking from 2023.With the improvement from eighth to seventh place in the rankings of the worlds most import

169、ant brands,the company has once again boosted the brand value by nine per cent as compared to the previous year.Our goal for the future is a brand that embodies the many facets of the lives of our customers from life-style and technology to the digital realm,mobility and culture and does this by wor

170、king together with cul-tural pioneers in a manner that is as inspired as it is unexpected.We intend to achieve this goal by creating an emotional bond with the Mercedes-Benz Cars brands and getting people excited about them in con-nection with every product and in every encounter we have with custom

171、ers and anyone who is interested in or is a fan of the brand.Focus on profitable growthMercedes-Benz Cars wants to make the transformation towards an all-electric future profitable and to continue its growth in the lucrative market segments.A clear positioning as a luxury brand helps to maintain hig

172、her profitability across all product categories Entry,Core and Top-End.Along with a clear focus on the customer,the important ways in which this can be accomplished are focusing and further developing the portfolio,achieving strong pricing,and securing the margins.These means will also be employed f

173、or the systematic electrification of our models throughout the entire Mercedes-Benz brand portfolio.Further profitable growth is also being targeted in the highly profitable product categories in particular.The consistent posi-tioning as a luxury brand will also be used to achieve Mercedes-Benz Cars

174、 goal of sustainable high profitabil-ity as a division that can rely on its resilient business system,even in challenging times.Expand customer base by growing Top-End LuxuryIn the Top-End segment,Mercedes-Benz Cars boasts an extraordinary brand portfolio that goes beyond the Mercedes-Benz core bran

175、d.This portfolio also includes the Mercedes-AMG and Mercedes-Maybach brands,as well as the iconic G-Class product brand.The Mercedes-Benz Cars Strategy will be used to unfold the full potential of the Mercedes-Benz brand portfolio,accelerate the development of the Top-End product category and achiev

176、e additional EBIT growth.Brand-specific formats and customer experiences are also to be used to address new target groups.At the same time,even stronger interrelationships are to be established between the brands,in order to exploit synergies in customer communications,for example.Embrace customers

177、and grow lifetime revenues In order to intensify and further boost customer loyalty,the division is systematically creating unique customer experiences along its entire customer journey and addressing customers in an individualized and data-driven manner within the Mercedes-Benz ecosystem.One of the

178、 basic preconditions for this is comprehen-sively digitalized sales and service processes that,for example,are enabled by the stepwise transformation of sales to the agency model.In this way,all channels online and offline,and from consulting to service are to be adapted to the dynamic customer requ

179、irements and flexibly developed further.Moreover,customers are to be provided with tailored and market-specific offers that enthuse them about more than just the pur-chase of vehicles.These offers include such things as after-sales services and spare parts as well as over-the-air(OTA)updates and dig

180、ital extras.In this way,Mercedes-Benz Cars intends to continuously enhance the attractiveness of its products,safeguard their value retention and increase the companys revenue through-out the product life cycle.Contents To Our Shareholders Combined Management Report Corporate Governance Consolidated

181、 Financial Statements Further Information Objectives and Strategy Annual Report 2023|Mercedes-Benz Group23Lead in electric drive and digital experience Mercedes-Benz Cars is endeavouring to become a leader for electric mobility and the digital experience.The division is creating the essential precon

182、ditions for becoming all-electric,with ambitious product develop-ment goals and the market launch of new locally emis-sion-free and software-driven technologies.The elec-tric-first platform MMA which will be launched next year,marks the next step into the electric future of Mercedes-Benz Cars.The pl

183、atforms MB.EA and AMG.EA will follow.Thus,Mercedes-Benz Cars will offer our customers an all-electric alternative for each model.Mercedes-Benz Cars expertise in the field of electric mobility is to be extended,and the vertical integration will also be increased by insourcing drive-system tech-nologi

184、es for electric vehicles.To ensure efficient pro-duction and promote the future development of battery cells and modules,the division plans to work together with partners to build various battery cell production plants worldwide.Mercedes-Benz also purchases battery cells from various partners on the

185、 world market to supply its global production network.The company thus has access to the latest technologies on the market.In order to further underscore the claim to leadership with regard to the digital experience,and to meet cus-tomers needs even better in future,Mercedes-Benz Cars plans to intro

186、duce its own data-based and updata-ble Mercedes-Benz Operating System(MB.OS)when it launches the MMA platform.In this way,the customers will be able to access a unique brand experience that includes special new digital extras and product features while control of the interface with customers can rem

187、ain in the Mercedes-Benz ecosystem.MB.OS will create the basis for an even faster and more flexible response to customer requirements in the future,including during a products life cycle.Another aim is to establish smart connectivity between the vehicle,the cloud and the IoT world(Internet of Things

188、).Data secu-rity and data protection play a key role for Mercedes-Benz Cars here.Mercedes-Benz Cars is also striving to establish leader-ship in assistance technologies and customer experi-ence in conditional driving automation.Customers are offered not only enhanced ride comfort and safety but also

189、 an increasing reduction of driver stress and the freedom to carry out certain activities while driving.Today,with DRIVE PILOT,Mercedes-Benz Cars already meets the demanding legal requirements for condi-tional driving automation according to SAE Level 3(pur-suant to UN R157)the first automotive comp

190、any in the world to do so.Mercedes-Benz Cars has even gone one step further where parking is concerned:the INTELLIGENT PARK PILOT preinstallation is a series-production system that already enables com-pletely automatic driverless parking(Automated Valet Parking)according to SAE Level 4 in Germany.Lo

191、wer cost base,improve industrial footprint and increase supply chain resilienceThe continued systematic pursuit of our profitability and cash-flow objectives is a fundamental component of the successful and sustained transformation of the company.Mercedes-Benz Cars seeks to further opti-mize its bre

192、ak-even point and take additional steps towards reducing the cost base and improving the industrial footprint.To this end,work is also proceeding on further reducing fixed and variable costs as well as on lowering the investments in property,plant and equipment.Mercedes-Benz Cars is also shifting it

193、s capital alloca-tion with its sustainable business strategy.The imple-mentation of further cost reductions by standardizing battery platforms and creating scalable vehicle archi-tectures is planned.Mercedes-Benz Cars also aims to play a more active role along its supply chains in order to safeguard

194、 and increase the resilience of these busi-ness activities.Contents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Further Information Objectives and Strategy Annual Report 2023|Mercedes-Benz Group24Targetpremium segments and focus on profitable

195、 growthEmbracecustomers and grow lifetime revenuesLeadin electric drive and digital experienceLowerthe total cost base and improve the industrial footprintMercedes-Benz Vans StrategyOur Goal:we offer the worlds most desirable vans and servicesGuided by economic,environmental and social sustainabilit

196、yAccelerated by digitalization and data-driven businessDriven by a highly qualified and motivated teamMercedes-Benz Vans StrategyThe goal of Mercedes-Benz Vans is to offer the most desirable vans and services worldwide.We want the vans from Mercedes-Benz to represent far more than a capital investme

197、nt and to continue arousing enthusi-asm.The strategy is based on four pillars:Target premium segments and focus on profitable growthMercedes-Benz Vans has extensively shaped the van market worldwide since the very beginning.As part of the Mercedes-Benz brand family,the division continu-ously sharpen

198、s its profile as a supplier of future-ori-ented transport solutions for commercial and private customers.Vans in the private segment are aligned with the luxury positioning strategy of Mercedes-Benz Cars,while commercial vans are marketed within the frame-work of a premium strategy.In both the comme

199、rcial and the private segments,Mercedes-Benz Vans stands for the highest levels of quality,reliability and sustainability.A key element of the strategy is the increased focus on high-sales and high-margin markets and segments.In parallel with the expansion of its activities in Europe,the division al

200、so intends in future to further intensify its efforts in China and North America.In addition,Mercedes-Benz Vans plans to focus more strongly on the growing premium segments in the most profitable sectors and to enter into attractive segments at the upper end of the port-folio through partnerships wi

201、th body manufacturers.Embrace customers and grow lifetime revenuesMercedes-Benz Vans plans to ensure a high level of profitability by means of a modified business model for sales and a customer-focused service portfolio.The focus here will be on pushing direct sales in order to reduce selling expens

202、es.With regard to the new-vehicle business,Mercedes-Benz Vans is increasingly making use of online sales channels.This involves using the existing Mercedes-Benz Cars Online Store platform and expanding it to include van-specific features.One measure here will make it possible for customers to place

203、follow-up orders quickly and easily directly online.Another goal is to generate additional revenue poten-tials at all points of customer contact:from advice to sales and after-sales services.Contents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statement

204、s Further Information Objectives and Strategy Annual Report 2023|Mercedes-Benz Group25Lead in electric drive and the digital experienceWith the eCitan,EQT(WLTP:combined energy con-sumption 100 kWh/km:20,7-19,3;combined CO2 emis-sions:0 g/km;CO2 class:A),eVito,eVito Tourer,EQV and eSprinter,Mercedes-

205、Benz Vans offers each model also as an all-electric version since 2023.Starting in 2026,the VAN.EA is a new,electric-only architecture which is intended to provide the basis for all future mid-size and large vans for both private and commer-cial use.Mercedes-Benz is currently developing its own oper

206、at-ing system MB.OS a flexible,modular and ser-vice-based chip-to-cloud architecture that will enable B2B-specific software solutions.Mercedes-Benz Vans expects that MB.OS will also enable it to quickly expand and optimize its digital extras and services.In addition,the operating system will serve a

207、s the foundation for the development of automated driving functions for Society of Automotive Engineers(SAE)Level 2 and up.On the basis of MB.OS and the technical possibilities it offers,the division plans to achieve conditional driving automation for private customers in accordance with SAE Level 3

208、 by the end of the decade.The objective is to be able to offer partially automated driving in accordance with SAE Level 2 with the introduction of vehicles based on VAN.EA.With regard to the commer-cial segment,Mercedes-Benz Vans is looking to achieve highly automated driving in accordance with SAE

209、Level 4 by the end of the decade in order to exploit the busi-ness potential of fully automated(driverless)transport.Lower the total cost base and improve the industrial footprintMercedes-Benz Vans has launched a comprehensive cost initiative at company,production and product level in order to maint

210、ain profitability at a high level and to improve competitiveness.The goals here include signif-icantly optimizing production processes and lowering production costs.This is to be achieved mainly by reducing the complexity of the product portfolio and focusing on efficiency in core production process

211、es.Mercedes-Benz Vans is also reorganizing its production network in order to become more efficient and flexible and to prepare the network for an electric future.The first manufacturing plant solely for all-electric vans in Jawor,Poland,will set new standards worldwide for productivity,lean process

212、es and sustainability.The reorganization of the production network will enable Mercedes-Benz Vans to react quickly to changing mar-ket conditions in the future while at the same time opti-mizing its cost structure.The strategic actions follow three principles:Guided by economic,environmental and soc

213、ial sustainability Mercedes-Benz Vans has also made sustainability an integral part of its strategy.One of the main goals for-mulated in Ambition 2039 is to make the fleet of new private and commercial vans net carbon-neutral over the entire life cycle by 2039.Accelerated by digitalization and data-

214、driven business Mercedes-Benz Vans intends to use the comprehensive digital strategy to exploit the potential of the digital transformation as effectively as possible.Among other things,this includes the optimal design of the digital customer experience,the expansion of the digital prod-uct and serv

215、ice portfolio as well as the digitalization of internal business processes all while ensuring that data is used responsibly.In all of its activities,Mercedes-Benz Vans aims for the maximum networking and synergy effects with Mercedes-Benz Cars.We are the key to our success The Mercedes-Benz Vans Peo

216、ple Principles place peo-ple and the team at the centre of our transformation.These principles create the framework for communica-tion,leadership and collaboration and require the com-mitment and the innovative power of our employees.In addition,Mercedes-Benz Vans offers its employees qualification

217、measures for future-oriented topics.Contents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Further Information Objectives and Strategy Annual Report 2023|Mercedes-Benz Group26Mercedes-Benz Mobility StrategyMercedes-Benz Mobility has a clear amb

218、ition:we are the number one financial and mobility service provider for luxurious driving in the all-electric era.The contri-bution that Mercedes-Benz Mobility makes to the success of the Mercedes-Benz Group is not only finan-cial.Mercedes-Benz Mobility also helps to increase brand loyalty,improve t

219、he customer experience,sup-port the Groups strategic transformation and boost sales figures.The basis for this success lies in the fact that Mercedes-Benz Mobility is present in every phase of the customer journey and puts customers at the centre of its strategy.It all begins with the bundling of pr

220、oducts such as financing and leasing contracts including insurance and extends to offering systems for seamless payment methods,and the planned expansion of its charging infrastructure to include more than 10,000 new charg-ing points by 2030.The goal here is to offer customers an extraordinary and l

221、uxurious brand experience and to keep them in the Mercedes-Benz ecosystem by offering customized follow-up contracts and solutions.Mercedes-Benz Mobility has defined five key areas within its strategy.These make it possible for the com-pany to continuously improve its products and services and remai

222、n an attractive employer.Mercedes-Benz Mobility StrategyOur goal:by 2025,we will be the number one financial and mobility service provider for luxurious driving in the electric eraElectrify our futureWe support the sustainable transformation to electric mobility with tailored prod-ucts and servicesE

223、xcite our customersOur services are 100%digital and seamlessly inte-grated into the world of Mercedes-BenzPower up our business We are digitalising our processes end-to-end,supported by strategic partner-ships in technology and operationsGo for data We are developing into a data-driven companyImagin

224、e it,do it,live itWe are strengthening our high-perfor-mance cultureContents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Further Information Objectives and Strategy Annual Report 2023|Mercedes-Benz Group27Electrify our future:Mercedes-Benz Mo

225、bility is supporting the transformation to electric mobility with tailored products and services Mercedes-Benz Mobility makes it as easy and conven-ient as possible for customers to switch to electric mobility.Various rental and subscription services make it possible for people to use electric vehic

226、les without committing to long-term ownership.When a leasing contract expires,Mercedes-Benz Mobility supports cus-tomers who decide to switch to an electric vehicle.Using the existing charging infrastructure as a basis,Mercedes-Benz Mobility is setting up a high-power charging network that will prov

227、ide fast and easy charg-ing.The high-power charging network will enable cus-tomers to charge using green electricity.Wherever pos-sible,the preference is to use power purchase contracts for green electricity,or to use accredited pro-viders green power certificates for charging.Charging in public are

228、as,at home and for business purposes will be transformed into a convenient,reliable and seam-less experience.Excite our customers:Mercedes-Benz Mobility is seamlessly integrating itself into the Mercedes-Benz ecosystemAt Mercedes-Benz Mobility our customers are our focus.Mercedes-Benz Mobility suppo

229、rts its customers by helping them to simply choose their preferred product and service options with seamlessly integrated prod-ucts and services.Mercedes-Benz Mobility does all this by providing an excellent service experience that is seamless and digital and includes rapid personal con-sultation in

230、 those areas where digital solutions reach their limits.The goal here is to not merely meet expec-tations but to exceed them both online and offline.Power up our business:Mercedes-Benz Mobility is automating and digitalizing internal processes in order to increase efficiency Mercedes-Benz Mobility i

231、s harmonizing internal pro-cesses and system landscapes to deliver fast and relia-ble contact with customers in a manner that focuses on their specific requirements.Here Mercedes-Benz Mobil-ity also relies on technology partnerships that enable it to continuously develop its digital services and sol

232、u-tions.Efficient processes and a highly motivated team form the foundation of the excellent service that Mercedes-Benz Mobility offers.Go for data:Mercedes-Benz Mobility is evolving into a data-driven companyMercedes-Benz Mobility is constantly optimizing its own products and services with the aim

233、of being able to offer tailored customer solutions at all times.Mercedes-Benz Mobility uses data analysis and artificial intelligence to achieve this goal.The top-of-the-line financial and mobility products and services the com-pany offers are based on data,because data reflects the lifestyles and p

234、references of its customers.Data security and customer consent for the usage of the data are paramount for Mercedes-Benz Mobility.Mercedes-Benz Mobility develops and promotes teams and skills that are needed to establish a data-driven way of think-ing throughout the entire organization.Imagine it,do

235、 it,live it:Mercedes-Benz Mobility is strengthening a high-performance cultureThe employees at the Mercedes-Benz Group achieve success together as a highly qualified and motivated team.Mercedes-Benz Mobility has a high-performance culture in which the employees speak up,empower each other,hold each

236、other accountable and continu-ally learn.All of these aspects are based on an impor-tant foundation:trust.To enable all employees to iden-tify with the company,Mercedes-Benz Mobility also focuses on emotionalizing its strategy through targeted communication measures.COMBINED MANAGEMENT REPORTContent

237、s To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Further Information Annual Report 2023|Mercedes-Benz Group30COMBINED MANAGEMENT REPORT 31 Corporate Profile 31 Business model 35 Important events 40 Performance measurement system 42 Declaration o

238、n Corporate Governance 43 Economic Conditions and Business Development 43 The world economy and automotive markets 45 Business development 47 Investment and research activities 48 Profitability,Liquidity and Capital Resources,and Financial Position 48 Profitability 56 Liquidity and capital resources

239、 66 Financial position 72 Mercedes-Benz Group AG(Condensed version according to HGB)76 Non-Financial Declaration 76 Sustainability as a driver of change 83 Environmental issues 90 Employee issues 98 Social issues 103 Integrity and compliance 114 EU Taxonomy 127 Overall Assessment of the Economic Sit

240、uation 130 Takeover-Relevant Information and Explanation 135 Outlook 135 The world economy and automotive markets 136 Outlook for the key performance indicators 138 Dividend 139 Overall statement on future development 140 Risk and Opportunity Report 140 Risk and opportunity management system and int

241、ernal control system 145 Risks and opportunities 159 Overall assessment of the risk and opportunity situationContents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Further Information Corporate Profile Annual Report 2023|Mercedes-Benz Group31Co

242、rporate ProfileBusiness model OverviewThe Mercedes-Benz Group can look back on a tradition covering more than 135 years a tradition that goes back to Gottlieb Daimler and Karl Benz,the inventors of the automobile and features pioneering achieve-ments in automotive engineering.Today,the company is a

243、car manufacturer that operates globally and is one of the largest suppliers of luxury vehicles and commer-cial vans in the premium segment.The Groups range of products and services is supplemented by financing and leasing products for end customers and dealers,fleet management services,insurance bro

244、kerage,inno-vative and digital mobility services,charging infrastruc-ture and systems for seamless payment.The Mercedes-Benz Cars,Mercedes-Benz Vans and Mercedes-Benz Mobility divisions manage the business operations of the Mercedes-Benz Group.1 Study by the US brand consulting company Interbrand in

245、 November 2023.The reconciliation of the segments to the Group(recon-ciliation)presents the functions and services provided by the Groups headquarters.In addition,the reconcilia-tion includes equity investments that are not allocated to the segments,gains and/or losses at the corporate level and the

246、 effects of eliminating intra-Group transac-tions between the segments.Mercedes-Benz Group AG is the parent company of the Mercedes-Benz Group and has its headquarters in Stuttgart.Along with Mercedes-Benz Group AG,the Mercedes-Benz Group comprises all subsidiaries over which Mercedes-Benz Group AG

247、can exercise a con-trolling influence either directly or indirectly.Detailed information on this topic can be found in the statement of investments pursuant to Section 313 of the German Commercial Code(HGB)in the Notes to the Consoli-dated Financial Statements.Mercedes-Benz Group AG defines the Grou

248、p strategy,manages the Group and,as the Group parent company,ensures the effectiveness of legal,organizational and compliance-related func-tions throughout the Group.The management reports for Mercedes-Benz Group AG and for the Group are combined within this annual report.The Combined Management Rep

249、ort includes the combined Non-Financial Declaration of Mercedes-Benz Group AG and of the Group.The Mercedes-Benz brand is one of the most valuable brands in the world1.The diagram below provides an overview of the Groups brand world.Mercedes-Benz GroupMercedes-BenzCarsMercedes-BenzVansMercedes-BenzM

250、obilityThe brand world of the Mercedes-Benz GroupContents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Further Information Corporate Profile Annual Report 2023|Mercedes-Benz Group32Global production network of the Mercedes-Benz Group*GERMANYBr

251、emenRastattSindelfingenDsseldorfLudwigsfeldeUntertrkheimHamburgBerlinKlleda/ArnstadtKamenzKuppenheimTuscaloosaCharlestonAguascalientesVitoriaBuenos AiresEast LondonUSA/MEXICOEGYPTARGENTINIAJaworSPAINPOLANDCZECH REP.HUNGARYSLOVENIAROMANIACHINATHAILAND/VIETNAM/MALAYSIAINDIASOUTH AFRICAKairoPuneMostKec

252、skemtMariborSebeCugirBeijingFuzhouBangkokHo Chi Minh CityPekan*)including non-consolidated affiliated companies,associated companies,joint ventures and joint operationsVans plantwith EV-productionPowertrain plantwith EV-componentsBattery plantBattery-Recyclingplant(planned)grey:plannedCars plantwith

253、 EV-productionAffalterbachThe Mercedes-Benz Group sells vehicles and provides services in nearly every country in the world and has over 30 production facilities in Europe,North America and South America,Asia and Africa.The Group is continuously further developing its global production network on th

254、ose continents and is aligning it to manufacture the portfolio of all-electric vehicles.A total of 12 electric vehicle models from Mercedes-Benz have been rolling off the assembly lines on three continents since 2023.The Group is also simultane-ously building up a global battery production network o

255、n three continents.The“Mercedes-Benz Group Global Production Network”graphic shows the Mercedes-Benz Cars and Mercedes-Benz Vans production sites around the world as of 31 December 2023.As part of the gradual realignment of sales operations through the implementation of an agency model,the Retail of

256、 the Future concept was launched in Germany and the UK in 2023.The new system has already been implemented in Sweden and Austria,which means that the new sales model is now being used for approxi-mately 50%of total unit sales generated in Europe.Plans call for the agency model to be introduced in ot

257、her regions as well over the next few years.As of the reporting date,six other countries,including Turkey,India and Australia,had switched over to direct sales.In addition,within the framework of the optimization of the sales model,it was possible to sell off retail activities in certain countries a

258、nd regions during the reporting year.Contents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Further Information Corporate Profile Annual Report 2023|Mercedes-Benz Group33Mercedes-Benz CarsAs a luxury automobile manufacturer,Mercedes-Benz Cars s

259、eeks to produce the most desirable vehicles in the world.Sustainability is a fundamental principle and a firm component of the Mercedes-Benz Cars business strategy a principle that characterizes all of our busi-ness activities.The Mercedes-Benz Group believes that the complete electrification of its

260、 product range is the most important means of making its entire new vehicle fleet net carbon-neutral1 across all stages of the value chain by 2039.Mercedes-Benz Cars is creating the essential preconditions for complete electrification and accelerating the transformation into a software-driven and al

261、l-electric future.To this end,the electric platform Electric Vehicle Archi-tecture(EVA)was introduced in 2021.Beginning in the middle of the decade,the Mercedes Modular Architec-ture(MMA)platform,which is primarily focussed on electric mobility with vehicles starting with the Entry segment,is to fol

262、low.In 2026,Mercedes-Benz Cars plans to introduce two more all-electric platforms(BEV platform generations)in the Top-End and Core seg-ments:the Mercedes-Benz Electronic Architecture (MB.EA)and the AMG Electronic Architecture(AMG.EA).Mercedes-Benz Cars offers a broad range of products that are sprea

263、d out among the three product categories of Top-End,Core and Entry.The Top-End2 portfolio 1 Net carbon-neutral means that no CO2 emissions are caused or that any CO2 emissions arising are compensated for by certified offset projects.2 The Top-End category comprises all AMG models,including the AMG m

264、odels of the various class model ranges and their derivatives in the Core and Entry segments.encompasses Mercedes-AMG,Mercedes-Maybach,the G-Class,the S-Class,the EQS Sedan,the GLS and the EQS SUV.Core represents the heart of the brand and comprises the Mercedes-Benz C-Class and E-Class model ranges

265、 and their derivatives.The Entry A-Class and B-Class models and their derivatives offer custom-ers a point of entry into the compact vehicle portfolio.In addition to the Mercedes-Benz brand,the brand portfolio encompasses the brands Mercedes-AMG and Mercedes-Maybach,as well as the G-Class product br

266、and.Mercedes me provides access to the digital ser-vices of Mercedes-Benz Cars.The division also continues to move ahead at a fast pace with the intelligent networking of its vehicles and the development of autonomous driving systems.In order to further underscore the claim to leadership with regard

267、 to the digital experience,Mercedes-Benz Cars plans to introduce its own data-based and updatable Mercedes-Benz Operating System(MB.OS)when it launches the MMA platform.Along with its production sites in Germany,Mercedes-Benz Cars also operates major manufacturing facilities in the United States,Hun

268、gary,Mexico and South Africa.Production operations in China are carried out by the associated company Beijing Benz Automotive Co.,Ltd.(BBAC).The most important markets for Mercedes-Benz Cars in 2023 were China with 36%of unit sales,the United States with 15%,Germany with 11%and the other Euro-pean m

269、arkets(European Union,United Kingdom,Swit-zerland and Norway)with 21%.Mercedes-Benz VansMercedes-Benz Vans is a global manufacturer of a com-prehensive van portfolio.The models offered in the commercial segment comprise the large van Sprinter,the mid-size van Vito and the small van Citan.The range o

270、f Mercedes-Benz vans in the private segment consists of the V-Class full-size multi-purpose vehicle,the V-Class Marco Polo camper and the T-Class.The small vans are offered in Europe(European Union,the UK,Switzerland,Norway),while the mid-size vans are offered in Europe and China and the large vans

271、are sold in Europe and the United States.Vans are also offered in specific segments in other markets.Mercedes-Benz Vans has anchored its aim to lead in electric drive in its strategy and has systematically elec-trified the complete product portfolio.Mercedes-Benz Vans already offers an electric vers

272、ion of each model today i.e.the eSprinter,the eVito and the eCitan in the commercial van segment.In addition,the EQV full-size multi-purpose vehicle and the all-electric EQT(WLTP:combined energy consumption 100 kWh/km:Contents To Our Shareholders Combined Management Report Corporate Governance Conso

273、lidated Financial Statements Further Information Corporate Profile Annual Report 2023|Mercedes-Benz Group3420,7-19,3;combined CO2 emissions:0 g/km;CO2 class:A)are now available for the private segment.Starting in 2026,all newly developed vans from Mercedes-Benz will be based on just one all-electric

274、 architecture:the innovative,modular and scalable Van Electric Architecture(VAN.EA).Like Mercedes-Benz Cars,Mercedes-Benz Vans also uses the modular MB.OS architecture in order to further develop and connect its digital services.The Mercedes-Benz Vans business unit has manufactur-ing facilities in G

275、ermany,Spain,the United States and Argentina.Production in China is managed via the Fujian Benz Automotive Co.,Ltd joint venture.The Citan and T-Class with the respective electric variants are produced in France through an alliance with Renault-Nissan-Mitsubishi.The planned facility in Jawor,Poland,

276、will be Mercedes-Benz Vans first purely electric vehicle plant in the world.The most important markets for Mercedes-Benz Vans in 2023 were Germany with 25%of unit sales,the other European markets(European Union,United Kingdom,Switzerland and Norway)with 37%,the United States with 17%and China with 7

277、%.Mercedes-Benz MobilityThe Mercedes-Benz Mobility division supports the sales of the Mercedes-Benz Groups vehicle brands world-wide with custom financial and mobility services.These services range from leasing and financing con-tracts for end customers and dealers to insurance solutions and fleet m

278、anagement services for business customers,with the latter primarily offered via the Athlon brand.Mercedes-Benz Mobility has around 4.3 million leased and financed vehicles in 34 markets,which is clear proof of its ability to offer outstanding services that meet a wide range of requirements.Mercedes-

279、Benz Mobility also brings together all activi-ties relating to electric vehicle charging.The Groups own charging service Mercedes me Charge enables easy and convenient access to more than 1.5 million public charging points within the Mercedes me Charge network.In addition,the Mercedes-Benz Group is

280、continuing to extend the existing range of charging pos-sibilities by building its own global Mercedes-Benz charging network and expanding high-power charging networks that are operated jointly with different con-tractual partners.Mercedes-Benz Mobility is also integrating its Mercedes pay digital e

281、lectronic payment platform into numerous applications at the Mercedes-Benz Group.The product range is rounded out by flexible subscrip-tion and rental models such as Mercedes-Benz Rent as well as investments in companies that offer mobility services,for example the premium chauffeur services platfor

282、m Blacklane.Contents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Further Information Corporate Profile Annual Report 2023|Mercedes-Benz Group35Important eventsLaunch of a Mercedes-Benz high-power charging networkOn 5 January 2023,the Mercedes

283、-Benz Group announced far-reaching plans to build its own global high-power charging network in China,North America,Europe and other core markets.The first Mercedes-Benz charging hub was opened in Chengdu,China,in October 2023.It was followed by the opening of a further Mercedes-Benz charging hub at

284、 the headquarters of Mercedes-Benz USA in Atlanta,Georgia in November 2023.The first German charging hub started operation at the Mercedes-Benz dealership in Mannheim at the end of November 2023.Plans call for more than 2,000 charging stations with over 10,000 high-power charging points to be built

285、worldwide by the end of the decade.With its own charging network,the Mercedes-Benz Group is seeking to establish new standards for the fast,convenient and reliable charging of electric vehicles.1 Society of Automotive Engineers(SAE).The automated driving system takes over certain driving tasks.Never

286、theless,a driver is still necessary.The driver must be ready to take control of the vehicle at any time when prompted by the vehicle to intervene.Certification for the SAE Level 3 system and sales approval for DRIVE PILOTOn 26 January 2023,the Mercedes-Benz Group became the worlds first automaker to

287、 receive SAE Level 31 certification for conditionally automated driving on US roads in the state of Nevada.In June 2023,it also received the certification for the state of California.The Mercedes-Benz Group subsequently introduced the production-ready version of DRIVE PILOT with a small fleet of SAE

288、 Level 31 EQS Sedans in the states of Cali-fornia and Nevada in late 2023.DRIVE PILOT was released for sale in Germany in May 2022 after the German Federal Motor Transport Author-ity issued the SAE Level 3 system a licence to operate on the basis of the internationally valid regulation UN-R157.Share

289、 buyback programme at Mercedes-Benz Group AGOn 16 February 2023,the Board of Management,with the approval of the Supervisory Board,resolved a share buyback programme on the basis of the authorization given by the Annual Shareholders Meeting on 8 July 2020.The acquisition of treasury shares on the st

290、ock exchange began on 3 March 2023.Treasury shares worth up to 4 billion(excluding incidental costs)are to be purchased over a period of up to two years and sub-sequently cancelled.Further information on this is provided in Note 20 of the Notes to the Consolidated Financial Statements.Partnership fo

291、r vehicle navigation between Mercedes-Benz and GoogleAs announced on 22 February 2023,the Mercedes-Benz Group plans to integrate innovative vehicle-related geo-spatial data and route planning capabilities from the Google Maps platform into the Mercedes-Benz Operat-ing System(MB.OS).With this partner

292、ship,the Group plans to become the first automaker to develop its own navigation experi-ence based on a new concept that combines new in-ve-hicle geospatial data and navigation features from the Google Maps platform.The system is to be introduced in the middle of the dec-ade.MB.OS was designed and d

293、eveloped in-house at Mercedes-Benz.The companys objective here is to retain complete control over the customer relationship while also ensuring data privacy and the unparalleled integration of all vehicle functions.Contents To Our Shareholders Combined Management Report Corporate Governance Consolid

294、ated Financial Statements Further Information Corporate Profile Annual Report 2023|Mercedes-Benz Group36Foundation laid for sustainable battery recycling factoryOn 3 March 2023,the Mercedes-Benz Group laid the symbolic foundation stone for a battery recycling fac-tory at the Kuppenheim site.The comp

295、any is thus underpinning the goal of ensuring a sustainable closure of the recycling loop for batteries and significantly reducing resource consumption.The Group plans to invest an eight-digit euro sum in the construction of the net carbon-neutral1 plant.Construc-tion of the plant sections for mecha

296、nical dismantling has already begun and preparations for commissioning are under way.Once the sections for hydrometallurgical processing have been completed,the entire recycling facility will go into operation in mid-2024.Confirmation of the ESG commitment at the ESG ConferenceAt the ESG(Environment

297、al,Social and Governance)Conference on 30 March 2023,the Board of Manage-ment of the Mercedes-Benz Group emphasized to investors and analysts its measures for reducing its CO2 footprint and creating sustainable value for all stakeholders.1 Net carbon-neutral means that no CO2 emissions are created o

298、r any resulting CO2 emissions are offset by certified compensation projects.2 Scope 1 emissions are direct CO2 emissions from sources for which the company is directly responsible or that it directly controls.3 Scope 2 emissions are indirect CO2 emissions from purchased energy such as electricity an

299、d district heating that are generated externally but consumed by the company.4 In comparison to 2018.The key measures are to accelerate electrification with a growing portfolio and Mercedes-Benz high-power charging network,to promote supply chain decarboni-zation and resource conservation through th

300、e use of renewable energy sources and responsible sourcing of raw materials,and to forge ahead with the creation of a circular economy and the direct sourcing of raw materi-als.The company also aims to reduce CO2 emissions in production(scope 12 and 23)by 80%by 20304.Alongside other measures such as

301、 investments in social commitment and the environment,the company has added additional ESG metrics to the variable compo-nent of executive compensation and indicated the gov-ernance structures that were implemented.The participation of Supervisory Board member Dame Veronica Anne(“Polly”)Courtice rei

302、nforces the embed-ding of sustainability in the companys strategy,busi-ness processes and remuneration system.The Mercedes-Benz Group engaged CICERO Shades of Green,now part of S&P Global,an assessor,to review the Mercedes-Benz Group Green Finance Framework.The Mercedes-Benz Group framework received

303、 the highest rating of“Dark Green”from CICERO.Sale of shares in the Russian subsidiariesThe Groups intention to withdraw from the Russian market and sell its shares in the Russian subsidiaries to the local investor Avtodom AO was reported in the Annual Report 2022.In March 2022,the Mercedes-Benz Gro

304、up had already stopped exporting cars and vans to Russia and ceased local production in Russia.As of 31 December 2022,completion of the transaction was still subject to authorities approval and the imple-mentation of the contractually agreed conditions.With the closing of the transaction on 19 April

305、 2023,the shares of Russian subsidiaries were deconsolidated.Further information on this is provided in Note 3 of the Notes to the Consolidated Financial Statements.Contents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Further Information Corp

306、orate Profile Annual Report 2023|Mercedes-Benz Group37Annual General Meeting of Mercedes-Benz Group AGAt the Annual General Meeting of Mercedes-Benz Group AG on 3 May 2023,the shareholders approved a dividend of 5.20 per share for the 2022 year(2021:5.00).The total payout for 2022 was 5.6 billion(20

307、21:5.3 billion).At Mercedes-Benz Group AG,a position on the Supervi-sory Board was also newly filled:Sari Baldauf stepped down from the Board after 15 years at the end of the Annual General Meeting of Mercedes-Benz Group AG on 3 May 2023.Stefan Pierer was elected as Baldaufs suc-cessor on the Superv

308、isory Board.CO2 reduction in the aluminium supply chainThe Mercedes-Benz Group is working with its partners to decarbonize the aluminium supply chain.As pre-sented in the Annual Report 2022,Mercedes-Benz AG and the Norwegian aluminium producer Norsk Hydro ASA(Hydro)signed a memorandum of understandi

309、ng in December 2022 for a low-CO technology roadmap between 2023 and 2030.As a next milestone,the Group announced on 9 May 2023 that Hydro is to supply even more CO-reduced aluminium to the foundry at the Mercedes-Benz plant in Untertrkheim.With a minimum of 25%recycled mate-rial in Hydros tested al

310、uminium,the CO footprint is to be reduced.Following the completion of the successful test phase for the low CO2-emission aluminium,the Mercedes-Benz Group is now bringing sophisticated structural castings for the body-in-white made from the more sus-tainable material into series production.Mercedes-

311、Benz Vans:Strategy UpdateAt the Strategy Update on 16 May 2023,Mercedes-Benz Vans unveiled its strategy,which is geared towards profitable growth in both the private and commercial van segments.Key objectives include further strength-ening the brands position in the upper market seg-ments,increasing

312、 competitiveness in terms of costs,and leading the way in electric mobility and digital experiences.CO2 reduction in the steel supply chainThe Mercedes-Benz Group announced on 7 June 2023 that it had signed a supply agreement with the Swedish startup H2 Green Steel AB(H2GS)for approximately 50,000 m

313、etric tons of nearly CO-free steel per year for European stamping plants.At the same time,the two companies are deepening their partnership with a memorandum of understanding to jointly establish a sustainable steel supply chain in North America.Following the investment in H2GS in 2021,the new sup-p

314、ly agreement will enable Mercedes-Benz to use virtu-ally CO-free steel in series production.The strategic partner plans to start production in 2025.On 14 September 2023,the Mercedes-Benz Group signed a supply contract with Steel Dynamics,Inc.for delivery of CO-reduced steel to the production plant i

315、n Tuscaloosa,Alabama(USA).In this way,the company wants to set another milestone on the path to decar-bonizing the global steel supply chain.Access to Tesla Superchargers in North America for Mercedes-Benz customersOn 5 January 2023,the Mercedes-Benz Group had already announced the development of it

316、s own global high-power charging network with around 400 charging stations and more than 2,500 charging points in North America.In addition,the Mercedes-Benz Group announced on 7 July 2023 that Mercedes-Benz custom-ers will be able to use Tesla Superchargers in North America starting in 2024.Creatio

317、n of a joint high-power charging network with several automakers in North AmericaOn 19 October 2023,seven automakers the BMW Group,General Motors,the Honda Motor,the Hyundai Motor,Kia Motors,Mercedes-Benz Group and Stellantis established a joint venture to accelerate the transition to electric vehic

318、les in North America.The new joint ven-ture,which is known as Ionna LLC,is to establish a charging network with at least 30,000 charging points.The first stations are expected to open in the United States in 2024 and in Canada at a later stage.In line with the sustainability strategies of all seven

319、automak-ers,Ionna LLC has set itself the objective of powering the charging network with renewable energy.Contents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Further Information Corporate Profile Annual Report 2023|Mercedes-Benz Group38Decis

320、ions by the Supervisory Board of Mercedes-Benz Group AGAt its meeting on 27 July 2023,the Supervisory Board reappointed Ola Kllenius as Chairman of the Board of Management of Mercedes-Benz Group AG for the period until 21 May 2029 and Markus Schfer for the period until 21 May 2026.As Chief Technolog

321、y Officer,Markus Schfer is responsible for Development&Pro-curement on the Board of Management.The Supervisory Board also resolved to establish a cross-divisional steering and coordination function for sustainability management in the company at the Board of Management level.On 1 August 2023,Renata

322、Jungo Brngger took over responsibility for this function as part of the Integrity,Governance&Sustainability divi-sion(previously:Integrity&Legal Affairs).With this step,the Mercedes-Benz Group is taking into account the steadily increasing complexity and growing legal significance of this multi-face

323、ted topic.Responsibility for the management of division-specific sustainability issues remains with the respective Board of Manage-ment divisions.At its meeting,the Supervisory Board also resolved to change the name of Dr Jrg Burzers division to Produc-tion,Quality&Supply Chain Management(previously

324、:Production&Supply Chain Management).As a result of this change,the divisions name will also express the 1 In accordance with China National Standard GB/T 40429-2021“Taxonomy of driving automation for vehicles”,published in 2021 by the National Technical Committee of Auto Standardization.divisions c

325、omprehensive responsibility for quality as well as this topics great importance for the Mercedes-Benz brand.Sabine Kohleisens division was renamed Human Rela-tions(previously:Human Resources).This was done in order to show that human resources work in the Mercedes-Benz Group focuses on cooperation w

326、ith and between people.In the Supervisory Board meeting of 13 December 2023,the Supervisory Board decided to reappoint Sabine Kohleisen as the member of the Board of Man-agement responsible for Human Relations and Labour Director until 30 November 2025 and Dr Jrg Burzer as the member of the Board of

327、 Management responsible for Production,Quality&Supply Chain Management until 30 November 2029.At the meeting on 21 February 2024,the Supervisory Board reappointed Renata Jungo Brngger until the end of 2025 and Britta Seeger until the end of 2029.Renata Jungo Brngger is responsible for Integrity,Gov-

328、ernance&Sustainability and Britta Seeger is responsi-ble for Marketing&Sales on the Board of Management.Creation of a joint high-power charging network with BMW Brilliance Automotive in ChinaOn 30 November 2023,Mercedes-Benz Group China Ltd.and BMW Brilliance Automotive Ltd.agreed to set up a joint

329、venture for the establishment and operation of a joint high-power charging network in China in order to provide Chinese customers with pre-mium charging services.The joint venture aims to pro-cure electricity directly from renewable sources wher-ever this is possible.The joint venture plans to estab

330、lish a charging network of at least 1,000 stations with around 7,000 high-power charging points between the year 2024 and the end of 2026.Approval to test conditionally automated driving in BeijingOn 16 December 2023,the Mercedes-Benz Group became one of the first automakers to receive approval to t

331、est conditionally automated driving Level 31 in Bei-jing.The Mercedes-Benz Group will begin testing condi-tionally automated driving systems on designated high-ways in Beijing.The company is working with the responsible authorities on the development of Level 3 systems for the Chinese market in orde

332、r to be able to offer Chinese customers a safe and reliable automated driving experience.Contents To Our Shareholders Combined Management Report Corporate Governance Consolidated Financial Statements Further Information Corporate Profile Annual Report 2023|Mercedes-Benz Group39Review of future struc

333、ture of Own Retail in GermanyOn 19 January 2024,the Mercedes-Benz Group announced a comprehensive review of the structures of the Groups Own Retail in Germany.The review is open-ended as regards its outcome and will be con-ducted individually and step-by-step at each retail location.The company expects the transformation pro-cess to take several years.Contract negotiations with potential buyers ha