The German manufacturer is splitting its heavyweight division to better address the transition to electric.
Daimler Truck is eagerly awaited this Friday at the Frankfurt Stock Exchange, by investors with an insatiable appetite for any company manufacturing electric vehicles.
The IPO, long prepared and approved by the shareholders, marks the culmination of the largest restructuring of Daimler since the sale of Chrysler in 2007. It follows the split of the group into two entities, one for trucks and the other for sedans , under the name of Mercedes-Benz.
It should allow the two companies to better face the specific challenges linked to the end of combustion engines: trucks rather require hydrogen when cars are now electrified by batteries. Daimler closely follows Volkswagen, which had split into 2019 from its unit Traton, specialist in heavy goods vehicles.
Mercedes shareholders will receive one additional Daimler Truck share for every two shares they hold in the parent company. In total, 65% of the shares of Daimler Truck will be transferred to the current shareholders of Daimler, who will keep the 35% remaining.
Bus and cooperation
Daimler Truck, which employs some 100. people, launched production of its eActros electric truck in October and has since 2007 an electric city bus.
Its Freightliner brand, a benchmark in the United States, will launch an electric heavy truck model in 2022 in the face of Tesla’s “Semi” truck project , eagerly awaited.
The split should also make the two entities more flexible and allow cooperation with third parties.
Positioning on luxury
S-Class maker accused of falling behind in the electric shift, and should focus on luxury electric vehicles to compete with Tesla , the current leader of marc hey.
Its spearhead, the electric S class called EQS, is equipped with a 1.4m wide screen, displays up to 770 km of autonomy (according to the WLTP standard) and offers remote updates, like its American competitor.
Mercedes-Benz hopes to make it a benchmark as the brand prepares to turn the page on combustion engines before the end of the decade, “where the markets allow,” according to an announcement in July.
The manufacturer will invest from here 2030 35 billions of euros only in the electrification of its sedans. And aim for a “double-digit” sales rate of return from here 2025.
For 2021, Daimler Truck is content with a target of adjusted net profitability in a range between 6% and 8% as the shortage of semiconductors and the rise in commodity prices weigh on its margins.