Daimler Boards Move to Make Mercedes-Benz Cars and Daimler Truck Independent Companies

Credit: Daimler

Daimler AG’s Board of Management and Supervisory Board have approved the company’s historic realignment and ongoing roadmap. Daimler shareholders will decide on the realignment at an extraordinary October 1, 2021, general meeting, where a vote will be taken to rename Daimler AG as Mercedes-Benz Group AG as of February 1, 2022.

The name change is intended to emphasize the company’s future focus on the car and van business with the Mercedes-Benz brand as well as the sub-brands Mercedes-AMG, Mercedes-Maybach and Mercedes-EQ.

After the Daimler Truck planned spin-off by the end of 2021, Daimler AG shareholders will hold a 65-percent stake in the new Daimler Truck Holding AG. Daimler will retain a 35-percent minority interest in Daimler Truck Holding AG.

“Today is a milestone in the nearly 140-year history of this unique company. Throughout Daimler’s history, the courage to fundamentally reinvent the company has been the key to its success. With the spin-off, the two independent listed companies will be able to fully concentrate on their differing customer groups and therefore become more efficient and more successful,” said Bernd Pischetsrieder, chairman of the Daimler AG Supervisory Board.

“In the future, the car and van business will focus even more on the premium and luxury segment and will consistently utilize its growth and profitability opportunities. As the most valuable luxury car brand, Mercedes-Benz aims for leadership in electric drive and vehicle software,” said Ola Källenius, chairman of the Daimler AG and Mercedes-Benz AG Board of Management.

As an independent company, Daimler Truck Holding AG employs approximately 100,000 people at more than 35 main sites. Daimler Buses accounts for more than 17,000 of those employees. The truck business comprises Mercedes-Benz, Freightliner, Western Star, FUSO and BharatBenz; the bus brands include Mercedes-Benz, Setra, Thomas Built Buses and FUSO.

Daimler AG – to be renamed as Mercedes-Benz Group AG – will concentrate on the car and van business. The company’s global production network comprises 35 production sites on four continents, including the global battery production network, plus further research, development and design centers