Daimler Shareholders To Vote On Truck Spin-off
Frankfurt, Oct 1 (UrduPoint / Pakistan Point News – 1st Oct, 2021 ) :Shareholders in German auto giant Daimler will vote Friday on the spin-off of its trucks division, separating it from its van and luxury car business, which will bear the name Mercedes-Benz.
If investors agree, Daimler plans to list its trucks and bus business on the Frankfurt stock exchange as Daimler Truck by the end of the year.
The remaining car and van business would be renamed Mercedes-Benz after Daimler’s top-selling luxury vehicle from February 1, 2022.
Addressing an extraordinary general meeting, held virtually, chief executive Ola Kallenius said the landmark separation would allow each company to be more agile and focus on new technologies best suited to their individual needs.
“Trucks and cars are two completely different businesses,” he told investors.
Not only do they have different customers, he said, but in the industry transition away from…
