Daimler AG DAI of Germany,
the company behind well-known car brands such as Mercedes Benz and the truck and bus manufacturer Freightliner and Thomas Built, said on Wednesday that it intends to split into two independent companies, which will feature Daimler Truck, which will focus on electric vehicles and self-driving. The other part of the business will be renamed Mercedes-Benz ‘at the right time’, ‘the company said, aiming to be’ the world’s leading luxury car company, committed to leading the way in the ‘ software for driving cars and cars’, he said. Daimler Truck “will accelerate its path to zero emissions as the world’s largest truck and bus manufacturer and technology leader,” Daimler said. The company’s board of directors will begin listing Daimler Truck on the Frankfurt Stock Exchange, with the intention of distributing a significant majority stake in Daimler Truck to Daimler shareholders, ‘he said. The two sides of the company “will be able to function effectively as independent entities, equipped with strong net liquidity and free from the constraints of a conglomerate structure,” said Ola Källenius, chairman of the board of directors of Daimler and Mercedes-Benz. , in a statement. Daimler share rose 7% after the news. Analysts at RBC Capital said later Wednesday that they were “applauding” the decision to list a majority stake in Daimler Trucks, as it was the key to getting a proper valuation. Future financial disclosures by Daimler Trucks could include region-specific details, which Wall Street would welcome, analysts say.
