Daimler has announced a plan to restructure its truck and car businesses. Mercedes-Benz Trucks will be renamed Daimler Truck, while parent company Daimler, focusing on cars and vans, will be known as Mercedes-Benz.
Further details of the restructure are expected at a shareholder meeting later in 2021. Under the separation, the Daimler Truck business will be a standalone company with an independent management team, chairman and supervisory board.
Ola Källenius, chairman of the Board of Management of Daimler and Mercedes-Benz, said, “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. Both companies operate in industries that are facing major technological and structural changes. Given this context, we believe they will be able to operate most effectively as independent entities.”
Daimler Truck would also be supported by its own, dedicated financial and mobility service offerings which, says the company, will “drive sales with tailor-made financing, leasing and mobility solutions.”
