Daimler’s trucks, luxury cars to go their separate ways

Published October 1, 2021 7:50 am

By DAVID McHUGH
AP Business Writer

FRANKFURT, Germany (AP) — Daimler’s truck and luxury car businesses are going their separate ways. Daimler AG shareholders made the decision at an extraordinary meeting on Friday. The move gives the separate businesses the freedom to pursue different technologies as the push toward zero emission vehicles transforms the industry. The independent Daimler Truck Holding AG plans to develop hydrogen powered long-haul trucks, while Daimler’s Mercedes-Benz luxury car business is more focused on battery power. The move means that Daimler will rename itself Mercedes-Benz Group after the spinoff goes through later this year.

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