Daimler Group to split into two companies, the luxury carmaker Mercedes-Benz Group and Daimler Truck AG.
Mercedes-Benz Group AG will focus on brands like Mercedes-Benz, Mercedes-AMG, Mercedes-Maybach and Mercedes-EQ.
Daimler Truck will focus on truck manufacturers like Freightliner, Fuso, Western Star, and others.
Before now, Daimler controls Mercedes-Benz, Smart, Mercedes-Benz Trucks, Freightliner and Fuso.
Daimler also controls Western Star, Bharatbenz, Mercedes-Benz Vans, Mercedes-Benz Buses, Setra and Thomas Built.
Shareholders have agreed to split German autogiant Daimler AG into two separate companies, the Mercedes-Benz Group and the Daimler Trucks, with former focusing on passenger vehicles while the latter will focus on commercial vehicles.
99.89% of the votes cast the renaming of Daimler AG as Mercedes-Benz Group AG effective as of 1 February 2022. The new Mercedes-Benz Group AG will focus on cars and vans of the brands Mercedes-Benz, Mercedes-AMG, Mercedes-Maybach and Mercedes-EQ.
“Daimler is splitting into two strong and independent companies,” said Ola Källenius, Chairman of the Boards of Management of Daimler AG and Mercedes-Benz AG”
Daimler Truck AG will include Freightliner, Fuso, Western Star, and others. The current shareholders will have a 65% stake in the new Daimler Truck Holding AG, which will then be listed on the stock exchange as an independent company.
“Mercedes-Benz Cars & Vans and Daimler Trucks & Buses are different businesses with specific customer groups, technology paths and capital needs”
“Given this context, we believe they will be able to operate most effectively as independent entities, equipped with strong net liquidity and free from the constraints of a conglomerate structure”.
“By unlocking the full potential of both companies, we are establishing two undisputed innovation leaders who will set the pace in the transformation of their industries.”
Bernd Plschetsrleder, Chairman of the Supervisory Board of Daimler AG, added that :
“Our company is making the right decision at the right time to sustainably safeguard success,”
“Daimler Truck and Mercedes-Benz will be able to master the transformation of the industry even more successfully with full entrepreneurial freedom and an independent management structure.”
Before now, Daimler AG controls brands like Mercedes-Benz, Smart, Mercedes-Benz Trucks, Freightliner, Fuso, Western Star, Bharatbenz (India), Mercedes-Benz Vans, Mercedes-Benz Buses, Setra and Thomas Built.