Daimler warns of job cuts to support e-car program

BERLIN - Mercedes-Benz owner Daimler AG has warned that e-cars will cut into the company's profits and cost jobs.

Electric Mercedes models will initially be just half as profitable as conventional alternatives, the German group warned, which would result in layoffs.

"In-house production is almost irrelevant to the consumer," Dieter Zetsche, chairman at Daimler, said earlier this week at the Frankfurt International Motor Show.