Daimler AG – parent company of Mercedes-Benz cars, Mercedes-Benz Commercial Vehicles, Mercedes-Maybach, and Mercedes-AMG – has announced it will split its truck and automobile divisions into two distinct entities.
According to the circa-€68 billion (AU$107 billion) German conglomerate, Daimler Trucks will be independently listed on the Frankfurt stock exchange before the year’s end.
In the hours following the announcement Daimler stock surged approximately eight per cent, peaking at €64.97 (AU$260).
Daimler chairman, Ola Källenius, said of the decision: “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,” he added.
“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, equipped with strong net liquidity and free from the constraints of a conglomerate structure.”
CarAdvice has contacted the brand's local division for comment on the decision, and how it could affect Australian consumers. This story will be updated with its response.