Economy, Auto

Daimler Benz Starts Restructuring

Daimler Benz Starts RestructuringDaimler Benz Starts Restructuring

Daimler said it has taken the first steps towards a new structure that could see its Mercedes Benz cars and vans and its Daimler Trucks divisions split off into separate entities.

Chief Executive Dieter Zetsche had said in July that Daimler may split parts of its business into separate legal entities, spurring speculation about a break-up of the maker of Mercedes-Benz cars, trucks, buses and vans as it seeks to fund multi-billion euro autonomous and electric car investments, Reuters reported.

The company said in a statement on Monday it did not plan to divest any of its divisions and no final decisions have yet been taken.

“The divisions Mercedes-Benz Cars & Vans as well as Daimler Trucks & Buses may be transferred into two legally independent entities to take greater entrepreneurial responsibility,” it said.

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