Luxury car manufacturer Daimler Group will officially change its name to Mercedes-Benz Group AG from February 1 this year. The analysis pointed out that the rebranding is aimed at emphasizing that the group will focus more on the electric vehicle business and compete with new car-making forces such as Tesla to attract more investors.
Daimler CEO Ola Kaellenius believes the move will help increase the company's value. Currently, the Daimler Group has a market capitalization of around $85 billion. Kang Linsong also said that the company will also enter the field of autonomous driving with great commercial potential in the future.
The name change is the third major change for the Daimler Group in nearly a century. Daimler's Board of Directors decided in February last year to make a fundamental adjustment to the group structure, spinning off the company's trucking division and listing it separately in December of the same year. In the year since the move was announced, Mercedes-Benz shares have risen to their highest level since 2015.
The Daimler Group will officially change its name to Mercedes-Benz to further focus on electric vehicles. Click on the video to see for yourself!
![That's it! On February 1, Daimler will officially change its name to Mercedes-Benz Group[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)