Automobile

Daimler is expected to spin off its truck division by the end of the year

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Berlin-German car manufacturer Daimler The world’s largest Daimler truck is being divested as planned truck And the bus manufacturer, by the end of the year, its treasurer quoted it as saying on Sunday.

Chief Financial Officer Harald Wilhelm said: “We have made detailed preparations for this complex project as planned and hope to list Daimler Trucks on the stock exchange as an independent company before the end of this year.” Car week weekly.

“We believe in the industrial logic and benefits of Daimler’s planned restructuring and the spin-off of Daimler Trucks.”

A Daimler spokesperson said on Sunday that the company had no further comment on the report.

The plan was announced in February and aims to increase Daimler’s attractiveness as an investor focused on electric vehicles. Luxury cars Business as Benz Brand challenge Tesla, Porsche, BMW And others.

LBBW analyst Frank Buehler told the magazine that Daimler Trucks may join the German DAX Blue Chip Index in March next year.

In the truck market, Daimler faces traditional competitors such as Sweden Volvo, Volkswagen Unit Traton and Paccar.

According to the planned spin-off, the majority of Daimler Trucks’ shares will be distributed to Daimler shareholders.

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