Daimler Trucks and Mercedes-Benz are no longer part of the same company. Daimler AG's truck division famously split from its passenger car division in early December. Now, the newly minted company has forged ahead with an initial public offering (IPO) at the Frankfurt Stock Exchange in Germany.
Despite its new status as an independent company, Daimler Trucks isn't as solitary as it appears. Its majority shareholder is Fuso, an offshoot of Mitsubishi. Chinese automotive giant, BAIC, also holds a 9.98 percent stake after investing in 2019.
With a successful IPO under its belt, the now-public Daimler Trucks aims to raise capital for its push towards battery-electric and fuel-cell commercial vehicles. The company shared that investors now have a rare opportunity to "invest directly in the shares of one of the largest commercial vehicle manufacturers in the world."
It's a new beginning for Daimler Trucks, one that could prove pivotal as it looks to enlarge its presence in the changing global truck market. CEO Martin Daum shared his thoughts on the IPO, citing a "new era" for the company.
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. Making this possible organizationally was a tour de force. My thanks, therefore, go to our entire team for their unparalleled commitment over the past weeks and months.
Daimler Trucks is one of the largest truck makers in the world. It has over 100,000 employees and 40 production facilities worldwide. With its split from Mercedes-Benz, the current goal is achieving profitability as quickly as possible. It plans to win the race to zero-emission vehicles fully committed to the endeavor. As it's now a public company, ordinary folks can now put their money on Daimler Trucks as it tries to make its way to the top.
