It is intended that the majority shareholding in Daimler Truck will be transferred to the current Daimler shareholders. As a result, Daimler Truck will gain full entrepreneurial freedom and an independent corporate governance structure with an independent Chairman of the Supervisory Board. In addition, the aim is for Daimler Truck to fulfill the criteria for inclusion in the DAX. According to current planning, the transaction should be completed by the end of 2021, at which time Daimler Truck should be listed on the Frankfurt Stock Exchange for the first time. Daimler also intends to change its name to Mercedes-Benz at a later date.

Simplification of the Daimler structure

"This is a historic moment for Daimler and the beginning of a profound transformation of the company. Mercedes-Benz Cars & Vans and Daimler Trucks & Buses operate in different industries with specific customer groups, technology paths and capital requirements. Mercedes-Benz is the most valuable luxury car brand, offering discerning customers the most desirable cars in the world. Daimler Truck provides customers with a variety of industry-leading transportation solutions and services. Both companies operate in industries that are undergoing extensive technological and structural change. They can manage this change much more effectively if they operate as independent entities - with strong net liquidity and without the constraints of a conglomerate structure," says Ola Källenius, Chairman of the Board of Management of Daimler and Mercedes-Benz.

Daimler Truck intends to create value for its shareholders by accelerating the implementation of its strategic plans, increasing its profitability and advancing the development of zero-emission drive technologies for trucks and buses.

"This is a landmark moment for Daimler Truck. With independence, we gain new opportunities, visibility and transparency. We will continue to grow and want to remain a leader in alternative drive systems and automation. With our battery-electric and fuel cell-powered trucks and our strong position in the field of automated driving, we have already clearly defined what the future of our business will look like. With targeted partnerships, we will accelerate further technology development in order to quickly offer our customers first-class products," says Martin Daum, Member of the Board of Management of Daimler and Chairman of the Board of Management of Daimler Truck.

"Daimler Truck is already on a solid financial footing and our business model is robust. We will continue to work on our cash flow management and know how to deal with the usual market cycles in the industry. We have proven this once again during the sharp global market downturn related to COVID-19. We have clear strategies to improve our financial performance and accelerate our roadmap. We will leverage the power of our strong and well-known global brands as well as our economies of scale and technology expertise to be the industry leader in returns going forward," adds Daum.

Daimler Truck is the world's largest manufacturer of trucks and buses with leading market positions in Europe, North America and Asia and has more than 35 main locations around the world. With more than 100,000 employees, Daimler Truck unites seven brands under one roof: BharatBenz, Freightliner, Fuso, Mercedes-Benz, Setra, Thomas Built Buses and Western Star. In 2019, Daimler Truck delivered a total of around half a million trucks and buses to customers. Revenue in 2019 amounted to €40.2 billion at Daimler Trucks and €4.7 billion at Daimler Buses. EBIT amounted to €2.5 billion at Daimler Trucks and €283 million at Daimler Buses.

It is intended that Daimler will sell the majority of Daimler Truck to its shareholders as part of the planned transaction. The number of Daimler Truck shares that Daimler shareholders would then receive is based on the size of the existing shareholding. Daimler intends to retain a minority shareholding in Daimler Truck. Accordingly, Daimler's representation on the Supervisory Board of Daimler Truck will reflect the planned deconsolidation.

All further details of the planned division of the business are to be presented to Daimler shareholders at an Extraordinary General Meeting in the third quarter of 2021. At this meeting, the mandatory approval of the shareholders for the planned project will also be obtained.