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Daimler AG to rebrand as Mercedes-Benz on February 1

The change is the latest in a string of structural reshuffles for the carmaker that began its life as Daimler-Benz AG in 1926. The Mercedes brand, named after the daughter of an automobile entrepreneur, was officially adopted by Daimler AG in 1902.

January 29, 2022 / 04:18 PM IST
Representative image

Representative image

 Daimler AG will be formally renamed Mercedes-Benz Group AG on Tuesday - nearly a year after the spin-off of its truck and bus division was announced - in a move its boss hopes will unlock shareholder value for the premium carmaker.

The change is the latest in a string of structural reshuffles for the carmaker that began its life as Daimler-Benz AG in 1926. The Mercedes brand, named after the daughter of an automobile entrepreneur, was officially adopted by Daimler AG in 1902.

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"We have a real chance to raise the multiple," CEO Ola Kaellenius told reporters on Friday, without naming a specific target valuation for the firm now worth just under 77 billion euros ($85.70 billion).