The Stuttgart-headquartered company said Wednesday that a significant majority stake in the truck business would be distributed to current shareholders, and that Daimler would "at the appropriate time" be renamed Mercedes-Benz, the brand name under which it sells luxury cars.
"We are in a very dynamic entrepreneurial environment," Kallenius said in a conference call with journalists. "Speed of decision making... is something that can be enhanced in a pure play structure." Company officials said that despite the spinoff the two companies would still be open to co-operating on new technology.
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