Sunday, June 23, 2024

Daimler Embarks on a New Era as Mercedes-Benz Group

BusinessDaimler Embarks on a New Era as Mercedes-Benz Group

Daimler AG became Mercedes-Benz Group AG on February 1, 2022. Following the stock market debut of Daimler Truck, the Group’s renewed focus on the automotive business is being underlined with a new name. The world-famous brand Mercedes-Benz was created in 1926 when the predecessor companies of Carl Benz and Gottlieb Daimler were merged with the aim of revolutionizing automobile production. The two pioneers had already presented their ground-breaking inventions independently of each other in 1886, heralding the beginning of the automotive age. In the course of the renaming of Daimler AG to Mercedes-Benz Group AG, the company’s stock exchange symbol also changes from »DAI« to »MBG«. There will be no further changes for the shareholders. The shares of the Mercedes-Benz Group AG will remain listed on Germany’s blue-chip DAX stock index.

Ola Källenius, Chairman of the Board of Management of Mercedes-Benz Group AG: “The renaming to Mercedes-Benz Group AG underlines our renewed strategic focus. In doing so, we want to make clear where we see the core of our company – building the most desirable cars in the world. The Mercedes star has always been a promise for the future: Changing the present in order to improve it. We want to continue this legacy of our founders by taking the lead in electric mobility and vehicle software.”

Parallel to the renaming of Daimler AG, Daimler Mobility AG is also adapting its brand. Under the name Mercedes-Benz Mobility AG, doing business as Mercedes-Benz Financial Services in the U.S., the company offers mobility services for passenger cars and vans in the areas of financing, leasing and insurance.

With the renaming of Daimler, the company completes its historic realignment that began last year and has been approved by the shareholders with an overwhelming majority. On December 10, 2021, Daimler Truck Holding AG was launched as an independent company on the Frankfurt Stock Exchange. The new Mercedes-Benz Group is thus fully concentrating on its passenger car brands Mercedes-Benz, Mercedes-AMG, Mercedes-Maybach and Mercedes-EQ as well as vans. As a focused manufacturer with the most valuable luxury automotive brand in the world, the Group will be able to fully develop its economic potential in the future and better exploit its competitive strengths. Following the realignment of the original Daimler Group, Mercedes-Benz Group still holds a minority stake of 35% in Daimler Truck Holding AG, of this, around 5% are held in its pension assets.

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