Daimler’s boss Dieter Zetsche handed over the keys of the luxurious automotive brand after 13 years as the company’s CEO, during Daimler’s annual general meeting held in Berlin on Wednesday.

Facing challenges from the transition to electric cars and the use of digital transportation tech, Zetsche said that the 2019 figures weren’t satisfying.

"We cannot and will not be satisfied with the current level of profitability," he said, adding: "new car technologies come with a price. That means that in future mobility will be more expensive. It is our task as a company to limit the price increase for customers."

He concluded his speech by saying that the result of tomorrow’s European elections "has rarely been more uncertain," underscoring that Europe needs "reliable politics from the middle of society."

The 66-year-old Daimler-Benz boss will be succeeded by Ola Kallenius.

Code: 5be83e. 12% OFF Coupon for GitUp Sports Camera & Parts

More videos