Economy

Daimler will become Mercedes, a subsidiary of trucks – Mondo Auto

Ola Callinius It marked the first major revolution since his appointment as CEO of the German group: once the division of the truck division was completed, it would become Daimler Mercedes BenzAnd it is a large part of the broader restructuring plan that investors have also pushed for some time. Under the name of the three-pointed star, so the division that will deal with the cars will be determined while the rest of the company falls under the name Daimler Trucks and Buses.

Mercedes-AMG Project One, F1 Road shown in a video

“This is a historic moment for Daimler because it marks the beginning of a deep renewal of the company.”Callinius saidMercedes-Benz Cars and Trucks, Daimler Trucks and Buses, are different companies with specific customer groups, technical trips, and capital needs. This process is designed to unlock the full potential of various activities. According to the German group, DaimlerTrack will have a fully independent management team in addition to its corporate governance, including a chair of an independent supervisory board. The new company is expected to be listed on the Frankfurt Stock Exchange, and a “substantial majority stake” will be distributed to Daimler shareholders. Lo spin off It will allow the bus and truck division to continue to grow, with the transition to electric and hydrogen powered vehicles.

Has a truck division Delivery of nearly half a million trucks And buses for customers in 2019, with sales of more than 40 billion euros. The deal is expected to be completed soon, with Mercedes-Benz retaining a minority stake in the new Daimler trucks, with the possibility of a representative on the Supervisory Board.More information on the separation will be presented at an extraordinary shareholder meeting in the third quarter. The plan is expected to be approved by shareholders around the same time and listing is expected by the end of the year.

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