Updated on Wednesday, 4 August 2021 – 08:58
The German group will keep 35% of Daimler Trucks, which will go public at the end of the year and manufacture fuel cells together with Volvo Trucks.
The first 100% electric, the eActros, will still arrive in the fall under the name Mercedes-Benz.
The October 1st, the German consortium Daimler will hold an extraordinary shareholders’ meeting which will give final approval to the division of the truck division to continue as an independent company. In fact, since last January 1 Daimler Trucks already operates as a company outside the passenger car division.
As a result of this spin off, as this operation is called in business terms, what we now know under the name of Daimler to be renamed Mercedes-Benz Group AG, while the commercial vehicle company will be called Daimler Truck Holding AG.
Following the decision taken by Daimler’s supervisory board, Mercedes-Benz Group will retain a 35% stake in the new trucking company and distribute the remainder to shareholders who will receive one Daimler Truck Holding AG share for every two Daimler AG shares they currently own. In addition, provide the new company with the industrial vehicle with a liquidity of 5,000 million euros for the development of the business.
The reason for the separation lies in the deep and growing differentiation between customers looking for a truck or a bus and those of tourism. With the spin-off, the two independent publicly traded companies will be able to fully focus on their different customer groups and therefore will be more efficient and successfulsaid the Chairman of the Supervisory Board, Bernd Pischetsrieder.
Here’s the key: separately, both companies will get more profitability from their developments, since the synergies between the two were no longer fruitful since Mercedes-Benz Passenger Cars and Vans will focus on the development of its electrified EQ range between now and 2025, without neglecting combustion vehicles in those countries and regions where emissions legislation continue to allow them.
Daimler Trucks accelerate towards the electrification of its range of industrial vehicles in a first step with the electric battery of up to 500 kilometers of autonomy in medium tonnage trucks – it has just presented the eActros-; and in a second step, combining the electric motor driven by the hydrogen fuel cell. In fact, Daimler Trucks, which will be the world leader in trucks and buses with its three divisions (America, Europe and Asia), is testing the GenH2, a hydrogen-powered tractor unit, capable of displacing 24 tons, with an autonomy of in around 1,200 km, which will refuel in about 15 minutes.
Also, at the end of last year I signed a agreement with Volvo Trucks to form a joint venture to develop the fuel cell for future heavy and long-haul trucks, with the aim of reducing costs. In fact, according to Daimler Trucks, the total cost of operating a large tonnage hydrogen truck will reach parity with an internal combustion truck in 2027; while those of medium tonnage and medium haul will break even with their diesel counterparts in 2025. Daimler and Volvo plan to have first fuel cell gigafactor ready by 2026. And the German company is working on having the first liquid hydrogen refueling station for trucks in 2023, which it develops together with the British chemical group Linde.
Finally, next to the oil company Shell, plans a 1,200 kilometer corridor by 2025 between Rotterdam (Netherlands), Cologne and Hamburg (Germany), with 150 H2 filling stations and a fleet of 5,000 trucks. In this project and within the H2 Accelerate program, Volvo Trucks and Iveco.
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