Daimler is getting ready to split its car and truck companies apart.
Mercedes-Benz will no longer be responsible for developing both cars and trucks, with the three-pointed star to instead focus only on luxury cars.
The truck business will be spun off, and become Daimler Truck. The new business will “accelerate its path towards zero emissions as the world’s largest truck and bus producer and technology leader”.
The reshuffle is designed to allow both the truck and car teams to focus on the rapidly-changing needs of their respective businesses.
Daimler Truck will be listed as a standalone on the Frankfurt stock exchange before the end of 2021, with a majority stake to be distributed to among Daimler shareholders.
“This is a pivotal moment for Daimler Truck. With independence comes greater opportunity, greater visibility and transparency,” said Martin Daum, member of the board of management of Daimler, and chairman of the board of management of Daimler Truck.
“We will grow further and continue our leadership in alternative powertrains and automation. We have already defined the future of our business with battery-electric and fuel-cell trucks, as well as strong positions in autonomous driving.
“With targeted partnerships we will accelerate the development of key technologies to bring best-in-class products to our customers rapidly.”
On the passenger car side, Mercedes-Benz is preparing to aggressively expand its electric vehicle range and double down on its software development.
Mercedes-Benz is aiming to have electrified vehicles, including plug-in hybrids and all-electric vehicles, account for more than half its sales by 2030 and to have a CO2-neutral fleet by 2039.
Further details on the split will be outlined at an extraordinary shareholder meeting in the third quarter of 2021.