Daimler changes name to focus on luxury sedans

Daimler is now Mercedes-Benz: announced several months ago, the effective change of name to Mercedes-Benz Group AG “underlines our strategic orientation”, explains Ola Källenius, chairman of the management board, in a communicated. It focuses on the manufacturer’s star product: Mercedes-Benz luxury cars. The Stuttgart group is on 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 last 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 world’s most valuable luxury car brand

The maker of the S-Class limousine, which bills itself as “the most valuable luxury car brand in the world”, is worth 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.

⋙ BMW, Mercedes… facing Tesla, the German auto giants “have all the cards in hand” to dominate the world market

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 minority stake of 35% in Daimler Truck, its truck branch introduced in early December on the Frankfurt Stock Exchange.



Reference-www.capital.fr

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