Now Daimler, name change timeline not yet announced
Daimler will become Daimler Trucks and Mercedes-Benz
In one of the most surprising automotive changes in recent memory, Daimler is splitting up its heavy truck business from its passenger car efforts, and the company will be dropping Daimler from its name for the first time since the company was founded back in 1926.
“This is a historic moment for Daimler. It represents the start of a profound reshaping of the company. Mercedes-Benz Cars & Vans and Daimler Trucks & Buses are different businesses with specific customer groups, technology paths and capital needs,” said Ola Källenius, Chairman of the Board of Management of Daimler and Mercedes-Benz.
Daimler has for decades run two largely separate businesses. One the cars, crossovers and vans sold under the Mercedes-Benz brand, and the other its commercial truck business, the largest truck and bus producer in the world, which includes Mercedes-Benz branded trucks and coaches, as well as Western Star, Freightliner, Mitsubishi Fuso, and Detroit Diesel.
Daimler Truck will get its own independent management group and will be listed on the Frankfurt Stock Exchange. Most of the shares of the new entity will be distributed to current Daimler shareholders.
The passenger car side of the business will be renamed from Daimler to Mercedes-Benz, though it’s not clear when the transition will happen. The company said just that it would be “at the appropriate time.
Daimler-Benz was first founded in 1926 when Karl Benz’s Benz & Cie formally merged with Gottlieb Daimler and Wilhelm Maybach’s Daimler Motoren Gesellschaft to become Daimler-Benz. The comapny kept that name through the 1998 merger with Chrysler to become DaimlerChrysler and became Daimler AG after the two split in 2007.