Daimler Truck, the world’s largest maker of commercial vehicles, began trading on the Frankfurt Stock Exchange on Friday, completing a split-off from Daimler AG.
The long-awaited independence, first discussed in 2014, was a stock listing rather than an initial public offering. Daimler AG, the parent company of luxury passenger carmaker Mercedes-Benz, retains ownership of 35% of Daimler Truck. Shareholders in Daimler received one share in Daimler Truck for every two Daimler AG (OTC: DDAIF) shares owned.
Watch now: Daimler Truck on electric work trucks
The separation of business units is in vogue. General Electric (NYSE: GE) is in the process of splitting into three businesses. Daimler Truck competitor Traton Group, made up of Scania, Man and most recently Navistar International, was spun off by Volkswagen AG in 2019.
“We are certain we will create value,” Daimler AG CEO Ola Källenius said at the Frankfurt Stock Exchange, according to Reuters. “Trucks and cars have different requirements. We are thus unleashing the full potential of both companies.”
DTG shares open higher
Daimler Truck shares traded Friday morning at $33.69, up from their opening price of $31.57. Daimler shares, which will be renamed Mercedes-Benz AG next year, traded 14.49% lower at $83.45.
Shares of Daimler Truck, trading under the ticker DTG, likely will be listed on the recently expanded 40-member DAX index as soon as February 2022.
Daimler Truck, which sells under seven brands globally, is targeting double-digit profit margins in 2025 compared to an expected 6-8% this year. Profits are better in North America, where Daimler Truck North America is the market leader with the Freightliner and Western Star brands.
If it hits its margin target, Daimler Truck will invest more in future technologies instead of growing profits, CEO Martin Daum said at a media roundtable after ringing the bell to open trading in Frankfurt.
The company has pledged to be carbon neutral in major markets by 2039. It is pursuing both battery-electric and hydrogen fuel cell powertrains to eventually replace diesel. The initial goal is 60% of trucks running on zero-emission technology by 2030.
Related articles:
Daimler Truck spinoff on track after parent company’s board vote
Daimler Truck pegs revenue loss from semiconductor shortage in billions
Freight Fraud Symposium
Double brokering. AI deepfakes. Identity theft. Freight fraud is an existential threat to the industry. Get ahead of it.
Supply Chain AI Symposium
Past the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
Future of Rail Symposium
Reshoring is rewriting freight demand. Join shippers, rail executives, and government officials to shape the next decade.
Double brokering. AI deepfakes. Identity theft. Freight fraud is an existential threat to the industry. Get ahead of it.
Rock & Roll Hall of Fame • Cleveland, OH Register NowPast the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
The Old Post Office • Chicago, IL Register NowReshoring is rewriting freight demand. Join shippers, rail executives, and government officials to shape the next decade.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now
Lori
I am making 💵 $200 to 💵$300per hour doing online work from home. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. if you interested…Go to this link, fill out a basic online form and hit submit at,Home Profit System And Follow The instructions as Home Profit System And Set Up your Account.. GOOD LUCK★★
↓↓↓↓THIS WEBSITE↓↓↓↓>>>>>>HERE☛ http://Www.PAYCASH1.com
Cathy Swigert
●▬▬▬▬ ✹ 𝐒𝐭𝐚𝐲 𝐀𝐭 𝐇𝐨𝐦𝐞&𝐖𝐨𝐫𝐤 𝐀𝐭 𝐇𝐨𝐦𝐞 ✹ ▬▬▬▬●
[ JOIN US ] I get paid more than $120 to $395 per hour for working online. I heard about this job 3 months ago and after joining this I have earned easily $24000k from this without having online working skills . Simply give it a shot on the accompanying site…
Here is I started.……GOOD LUCK…>> http://Www.NETCASH1.Com