Saudi Press

Saudi Arabia and the world
Sunday, Jun 01, 2025

World’s oldest automaker changing name

World’s oldest automaker changing name

Daimler restores corporate name Mercedes-Benz for the first time in nearly 25 years
From February 1, German car manufacturer Daimler AG is formally changing its name to Mercedes-Benz Group AG. The rebranding, announced last week, is the latest in a string of structural changes for the automaker.

Last year, the company announced that its truck and bus business would be spun off as Daimler Truck AG. The new company is now listed separately on the Frankfurt Stock Exchange. The move, approved by Daimler AG stockholders in October, resulted in creating two independent companies, each with their own management and chairman.

The step is expected to help the company to unlock shareholder value for both divisions and tap into the full potential of its business in a zero-emissions, software-driven future.

“We have a real chance to raise the multiple,” Daimler CEO Ola Kaellenius said last week, providing no details on a specific target valuation for the company, which is currently worth just under €77 billion ($87 billion).

Last year, the company reportedly sold over 2.4 million cars, CUVs, SUVs, and vans despite the supply crunch that led to major chip shortages across the industry. Moreover, Daimler reportedly set sales records for HEVs, PHEVS, and EVs, as well as high-end Maybach, AMG, and G-Class vehicles.

The automaker is now seeking to change its car line-up to one powered entirely by electric motors by 2030, and gradually shift toward a direct sales model to better control pricing, and increase net revenue per vehicle as well as from digital services. It is also planning to spend some $68 billion on its transformation between 2022 and 2026.

As part of the new strategy, the producer will keep developing electric vehicles, vans, SUVs, luxury cars, and self-driving cars. Meanwhile, Daimler is expected to focus on zero-emission drivelines for trucks and buses, and integration of autonomous driving technology into its heavy-duty vehicles.

The Daimler-Benz alliance traces its origins to Carl Benz, who founded Benz & Cie in 1883, and to Gottlieb Daimler and Wilhelm Maybach, who launched Daimler Motoren Gesellschaft in 1890. Daimler first used the Mercedes name in 1902, and is named for the daughter of Daimler dealer Emil Jellinek. The first Mercedes-Benz branded vehicles were produced in 1926, shortly after the merger of the two companies into Daimler-Benz.

In 1998, Daimler-Benz AG merged with the Chrysler Corporation to become DaimlerChrysler. When Daimler sold Chrysler to Cerberus in 2007, the corporation changed its name to Daimler AG.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
UAE Offers Free ChatGPT Plus Subscriptions to Citizens
Lebanon Initiates Plan to Disarm Palestinian Factions
Iran and U.S. Make Limited Progress in Nuclear Talks
The Daily Debate: The Fall of the Dollar — Strategic Reset or Economic Self-Destruction?
Trump Administration's Tariff Policies and Dollar Strategy Spark Global Economic Debate
OpenAI Acquires Jony Ive’s Startup for $6.5 Billion to Build a Revolutionary “Third Core Device”
Turkey Weighs Citizens in Public as Erdoğan Launches National Slimming Campaign
Saudi-Spanish Business Forum Commences in Riyadh
Saudi Arabia and Spain Sign MoU to Boost SME Sectors
UK Suspends Trade Talks with Israel Amid Gaza Offensive
Iran and U.S. Set for Fifth Round of Nuclear Talks Amid Rising Tensions
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
A Chinese company made solar tiles that look way nicer than regular panels!
Indian jet shootdown: the all-robot legion behind China’s PL-15E missiles
The Chinese Dragon: The True Winner in the India-Pakistan Clash
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
The Spanish Were Right: Long Working Hours Harm Brain Function
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
Saudi Arabia Emerges as Global Tech Magnet with U.S. Backing and Trump’s Visit
This was President's departure from Saudi Arabia. The Crown Prince personally escorted him back to the airport.
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
Trump takes a blow torch to the neocons and interventionists while speaking to the Saudis
US and Saudi Arabia Sign Landmark Agreements Across Multiple Sectors
Why Saudi Arabia Rolled Out a Purple Carpet for Donald Trump Instead of Red
Elon Musk Joins Trump Meeting in Saudi Arabia
Trump says it would be 'stupid' not to accept gift of Qatari plane
Quantum Computing Threatens Bitcoin Security
Michael Jordan to Serve as Analyst for NBA Games
×