(Frankfurt) The German manufacturer Daimler, a century-old automotive pioneer, officially renamed itself Mercedes-Benz on Tuesday, the final stage of its transformation after the stock market listing of its heavy-duty subsidiary in order to focus on sedans of luxury.
Posted yesterday at 5:03 p.m.
Announced several months ago, the effective name change to Mercedes-Benz Group AG “underlines our strategic direction,” said Ola Källenius, CEO, in a statement. It focuses on the manufacturer’s star product: Mercedes-Benz luxury cars.
The Stuttgart group is the fourth name in its history: the former Daimler-Benz AG launched in 1926, by merging the companies of inventors Carl Benz and Gottlieb Daimler, became Daimler-Chrysler after the merger in 1998 of Daimler- Benz and the American Chrysler, then Daimler in 2007 after their divorce, and now Mercedes-Benz.
“We want to continue the legacy of our founders by taking the lead in electromobility and vehicle software,” says Källenius.
Mercedes-Benz received approval in December for its “level 3” autonomous driving system, which allows the driver to look away from the road in certain situations, with a view to marketing it from 2022, before the American Tesla.
Mercedes-Benz shares will remain in the German Dax stock index, the group said.
The manufacturer of the S-Class limousine, which presents itself as “the most valuable luxury car brand in the world”, weighs nearly 75 billion euros on the stock market, 15 billion more than more than its Bavarian rival BMW, but about a tenth of competitor Tesla.
It will now focus on passenger cars of the Mercedes-Benz, Mercedes-AMG, Mercedes-Maybach and Mercedes-EQ brands, as well as on vans.
The group still holds a 35% minority stake in Daimler Truck, its truck branch introduced in early December on the Frankfurt Stock Exchange.