On Tuesday (02/01/2022) Daimler AG will officially say goodbye to its previous company name. From then on, the Stuttgart car manufacturer trades as "Mercedes-Benz Group AG" in the commercial register.
With the renaming, the CEO Ola Källenius completes the comprehensive restructuring of the group, which began at the end of 2021 with the spin-off of the truck division. The two separate companies Daimler Truck and Mercedes Benz Group are both listed on the stock exchange. As part of the renaming to Mercedes-Benz Group AG, the company's stock market abbreviation also changed from "DAI" to "MBG". There will be no further changes for the shareholders. The shares of Mercedes-Benz Group AG remain a member of the German share index DAX.
Daimler Mobility as a financial and mobility service provider will be divided between the two companies. Under the name Mercedes-Benz Mobility AG, the company offers mobility services for cars and vans in the areas of financing, leasing and insurance. In addition, the finance and mobility division enables Mercedes-Benz customers to use their vehicles flexibly through rental and subscription models, fleet management and digital services related to charging and payment.
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Renaming already completed for the anniversary
The group had already completed the renaming on Saturday, January 29th, 2022 and updated its websites, among other things. On this date, exactly 136 years ago – i.e. on January 29, 1886 – the patent for the first motor vehicle was filed.
With the renaming to the Mercedes-Benz Group, the car manufacturer wants to strengthen the Mercedes brand and establish it as a luxury brand. CEO Källenius said last week: "We see that attention to Mercedes has increased over the past 12 to 18 months." The CEO sees "a lot of potential" in the stock, according to the news agency dpa.
Mercedes is the second most valuable brand in the world
The Mercedes brand is also quite valuable. The US market research company Interbrand ranked it 8th among the most valuable brands worldwide in 2021, especially as it is constantly increasing in value. Interbrand currently values the car manufacturer at 50.866 billion US dollars, around 45 billion euros. Only Toyota is one place ahead of the Stuttgarters with a value of 54.07 billion dollars.
In the 1990s, under the then CEO Jürgen Schrempp, the Stuttgart-based company formed DaimlerChysler AG with the US car manufacturer Chrysler. When the majority stake in Chrysler was sold again, Daimler AG was formed in 2007.
Conclusion
With the renaming to the Mercedes-Benz Group, the car manufacturer has completed its restructuring and at the same time is strengthening the brand name "Mercedes". From February 1st, 2022, the name will be officially entered in the commercial register. However, the renaming was completed - on a date that is particularly historically charged. The patent for the motor vehicle was filed 136 years ago.
