Following the successful stock market launch of Daimler Truck, Daimler AG became the ‘Mercedes-Benz Group AG’ on Monday, emphasizing its renewed concentration on the automotive industry.
The automaker’s stock exchange symbol has now been changed from DAI to MBG as a result of the rebranding, while its shares will continue to trade on Germany’s DAX stock index.
Its chairman Ola Källenius said,
The renaming… underlines our renewed strategic focus. In doing so, we want to make clear where we see the core of our company – building the most desirable cars in the world. The Mercedes star has always been a promise for the future: changing the present in order to improve it. We want to continue this legacy of our founders by taking the lead in electric mobility and vehicle software.
The luxury brand Mercedes-Benz was a result of the amalgamation of its predecessor companies Carl Benz and Gottlieb Daimler in 1926.
Mercedes-Benz Mobility AG (formerly Daimler Mobility AG) now offers Mercedes-Benz passenger cars and vans, buyer financing, leasing, and insurance, besides rental and subscription services, fleet management, and digital charging and payment services.
The historic realignment of the automaker began last year and was approved by the majority of its shareholders. Daimler Truck Holding was launched as an independent business on the Frankfurt stock exchange on 10 December 2021, while the new MBG focuses on passenger car brands and vans. However, the MBG still owns 35 percent of Daimler Truck, five percent of which is maintained in its pension assets.
