Daimler Truck has celebrated its first day as a listed company in its own right following its spinoff from parent company Daimler AG. Daimler Truck began trading on the Frankfurt Stock Exchange on the 10th December, and amid the ringing of the bell and the sounding of a Mercedes-Benz Actros truck horn to open trading, the new shares of Daimler Truck opened at $US44.42 (28 Euros).
Daimler Truck is arguably the world’s largest commercial vehicle manufacturer, employing more than 100,000 worldwide with its businesses structured into five key operations, including Daimler Trucks North America with Freightliner and Western Star and school bus brand Thomas Built Buses, Trucks Asia with Fuso and the Indian based BharatBenz brands, Mercedes-Benz; Daimler Buses, and Daimler Truck’s new financial services business.
In preparation for the spinoff, Daimler Truck said it has maintained its intent to increase the performance and profitability of its segments. The company also emphasised its intention to improve profitability and to lead the path to CO2-neutral transport.
The company said it plans to accelerate the development of battery-electric and fuel-cell vehicles, with electric vehicles accounting for up to 60 per cent of Daimler Truck sales by 2030 and plans to offer only CO2-neutral vehicles only by 2039.
The company anticipates its shares will be listed among the top 40 largest companies in the DAX index in the first quarter of 2022, pending free flow market capitalisation requirements.
“Today is a historic day for Daimler Truck: For 125 years, our truck and bus business was part of the Daimler Group—now we are becoming an independent, listed company,” said CEO of Daimler Truck AG. Martin Daum, at the Frankfurt Stock Exchange last week
Daum called the event a “starting line,” as the now-independent company looks ahead “for even more entrepreneurial success.”
“Today, we are completing our spinoff; we are becoming a publicly listed company,” Daum said.
“This is a big step because it means two things—independence and responsibility. Independence and responsibility—that is what truckers love about their job when they hit the road in their vehicles anywhere in the world, and at Daimler Truck we love that as well, the independence to take our future into our own hands and the responsibility that comes with that independence,” he added.