Daimler completes Mercedes-Benz rename after truck split
-
S.African activists push back on data centre rush
-
Billionaire Ambani's Jio jumps 21% in market debut after record India IPO
-
Billionaire Ambani's Jio to debut after record India IPO
-
Sri Lanka's Tamil farmers fight to reclaim land after civil war
-
UK set for cautious budget as borrowing costs climb
-
'They don't care about us': Trump food aid cuts leave Americans struggling and angry
-
US Fed expected to hold rates steady ahead of key midterm elections
-
Palestinian activist Khalil returns to Columbia after US detention
-
AI chip giant SK hynix says quarterly operating profit soars 630%
-
Youths testify about 'despair' in unprecedented Canadian climate trial
-
Charles tackles thorny legacy of slavery on Caribbean trip
-
Storied Paris department store seeks bankruptcy protection
-
UN nuclear watchdog chief urges Iran to grant access
-
Boeing shares tumble after it releases cautious growth forecast
-
Boeing releases cautious growth plan as shares fall sharply
-
Boeing reports smaller loss as it aims for stable output growth
-
Tech firms gain on Anthropic IPO optimism; HSBC slumps in London
-
Dangote, Nigeria's oil tycoon rewriting Africa's story
-
Tech firms track Wall St rally on mixed day for stock markets
-
Kane says Ballon d'Or win 'feels like a dream' as tributes pour in
-
HSBC profit jumps on higher rates, lower costs
-
Mercedes-Benz cuts 2026 profit outlook on tough China market
-
Reparations calls follow Charles on tough Caribbean trip
-
Wall Street faces earnings and Fed tests after turbulent technology-led week
-
China brands drop Mbappe for 'offending national sentiments'
-
Delhi grants minimum monthly pay and DA to about 4,000 MCD health workers
-
Critical coal inventories affect nearly half of India’s domestic power plants
-
FCNR(B) deposit drive puts sharper margin pressure on private banks
-
Gold ETF flows turn negative after 13 weeks as bullion loses 4%
Daimler completes Mercedes-Benz rename after truck split
German auto manufacturer Daimler officially changed its name to Mercedes-Benz on Tuesday after splitting with its truck subsidiary in a major corporate shakeup.
Re-branding under the name of the well-known luxury make reflects the group's new "strategic focus", chief executive Ola Kallenius said in a statement.
"We want to make clear where we see the core of our company –- building the most desirable cars in the world," Kallenius said.
The former Daimler group revealed plans to spin off its heavy goods vehicles division in February last year, with the plans approved by shareholders in October.
The new company Daimler Truck rolled onto the Frankfurt Stock Exchange in December and is targeting an entry into the blue-chip DAX index, where it would join Mercedes-Benz.
Internally, Mercedes employees have been using the name since Saturday, the anniversary of Carl Benz's application to patent his motor vehicle in 1886.
The reorganisation was carried out with an eye to taking on the different technological challenges faced by the two companies as the auto sector moves away from combustion engines.
While battery technology is essential to the future of passenger cars, "hydrogen will play an important role in the truck department", Kallenius said when Daimler Truck launched on the stock market.
The Mercedes-Benz group continues to hold a 35-percent stake in Daimler Truck after the spin-off.
Ng.A.Adebayo--CPN
