Lorries and cars of the group will pass to independent companies
Daimler announced the corporate separation of the related industrial businesses to the trucks and other vehicles of the group with the creation of two independent companies.
The trucks and buses of the car manufacturer that includes the Mercedes brand will become part of the new Daimler Truck, which will have independent management and governance and will be listed on the Frankfurt Stock Exchange.
Daimler thus revealed in the same instance that it will be renamed “at the appropriate time” Mercedes-Benz, covering the passenger cars and commercial vehicles of the group.
“We are confident in the financial and operational strength of our two vehicle divisions. And we are convinced that independent management and governance will allow them to operate even faster, invest more ambitiously, aim for growth and cooperation and, thus, be more agile and competitive ”, said Ola Kallenius the chairman of the board of directors
Daimler Truck will assume the objective of developing ‘zero emission’ technologies to accelerate strategic plans and reinforce profits. The company + and owns seven brands: BharatBenz, Freightliner, Fuso, Mercedes-Benz, Setra, Thomas Built Buses and Western Star.
This separation between companies will be submitted to the approval of an extraordinary meeting of shareholders in the third quarter of this year.
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