The German automotive group announces the unbundling of the industrial vehicle business (trucks and buses) from the car business. Listing on the Frankfurt stock exchange by the end of the year
The Daimler car group, owner of Mercedes, has started the process to spin off the industrial vehicles division, which includes trucks and buses, from the business related to cars under the Mercedes brand. The announcement was made on the occasion of the presentation of the quarterly report. The transaction should be formalized by the end of the year, with approval, expected in the autumn, at the extraordinary shareholders’ meeting. According to the German auto group, this financial transaction will be able to generate “shareholder value and increase the group’s profits”. Part of the capital will be returned to shareholders in the form of shares and the rest will be listed on the Frankfurt Stock Exchange.
Daimler come Fca
Daimler therefore follows in the footsteps of what was done by the now former FCA, when in 2011, under the leadership of CEO Sergio Marchionne, Fiat Auto was separated from Fiat Industrial (Iveco), which two years later merged into CNH, division which also includes agricultural machinery, thus creating the giant CNH Industrial. Ola Kallenius, who has been with Daimler since 2019, therefore has the task of completing the operation initiated by former CEO Dieter Zetsche, who was positively impressed by what Sergio Marchionne did.
Daimler, strong quarter despite chip crisis
The German group closed the second quarter with revenues up 44% from 30.2 to 43.5 billion euros, with revenues up from 30.2 to 43.5 billion and profits from 1.9 to 3.7 billions. Sales, compared to 2020, the first year of Covid, increased by 35.9% from 541,800 to 736,400 units. The results were therefore good despite the shortage of semiconductors which penalized especially luxury cars such as the new S-Class.
The business of the future
With this operation, the German group therefore clearly separates the world of cars from that of industrial vehicles. Mercedes is moving towards a complete transformation as an automaker specializing in premium electric cars. On the other hand, a very important game is also being played in the sector of industrial vehicles, that of electric mobility. In fact, in a few years the center of large cities will be allowed to pass exclusively by electric vehicles. From this we understand the importance of electrification of heavy road transport. Heavy vehicles that will not only be electric. In fact, Mercedes also focuses on hydrogen, especially for long-distance journeys. An example of this is the recent participation in the H2 Accelerate project, which also sees the participation of Iveco, OMV, Shell and Volvo. This is a joint project, which also involves companies that deal with infrastructure, for the creation of a network of hydrogen distributors that can allow long-range travel.
July 22 – 16:35
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