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Daimler moves to separate car, truck biz

Daimler shares rose as much as 1.5% to £68.94 and were up 0.4% at 1:24 pm in Frankfurt

Elisabeth Behrmann | Bloomberg 

Daimler is firming up plans for its biggest corporate overhaul in a decade, granting its cars and trucks operations more independence in bid to become more nimble as the auto industry confronts the disruptive shift to self-driving electric vehicles. Under the plan, the German automotive giant would break up its conglomerate structure by transforming itself into a holding company with three units: Mercedes-Benz Cars & Vans, Daimler Trucks & Buses and the financial services unit, which is already legally independent, the Stuttgart, Germany-based company said Monday in a ...

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First Published: Tue, October 17 2017. 02:20 IST
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