Daimler AG is now Mercedes-Benz Group AG

KUALA LUMPUR: In Feb 2021, Daimler AG announced a fundamental change in its structure splitting up its business into two different companies - Mercedes Benz and Daimler Truck. The former is for passenger cars and the latter for trucks and buses. Now, after a year, the German auto group is renamed as Mercedes-Benz AG w.e.f. from Feb 1, 2022. 

The rebranding is the latest move in the series of structural reshuffles for the company, which started its journey as Daimler-Benz AG in 1926. The Mercedes brand was named after the daughter of an automobile entrepreneur and was officially adopted by Daimler AG in 1902.

The Chairman of the Board of Management of Mercedes-Benz AG, Ola Källenius expects that this rebranding will unlock shareholder value for the luxury marque, reports Reuters. "We have a real chance to raise the multiple," the company head said without mentioning a specific target valuation for the group, which is now worth under 77 billion euros (RM 360 billion).

The renaming leads to changing the company's stock exchange symbol from »DAI« to »MBG«, apart from that 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.

Mercedes-Benz AG fully concentrates on the Mercedes-Benz Cars (Mercedes-Benz, Mercedes-AMG, Mercedes-Maybach, Mercedes-EQ) and Mercedes-Benz vans with over 173,000 employees worldwide. Under the name Mercedes-Benz Mobility AG, it offers mobility services for passenger cars and vans in the areas of financing, leasing, and insurance.

The group sold 2.8 million vehicles in 2021. With its two business divisions, it is continually spreading its production network with over 40 sites across four continents. It is also aligning with the requirements of electric mobility and for that, it is involved in developing the global battery production network on three continents.

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