Daimler’s Trucks, Luxury Cars to Go Their Separate Ways

Daimler AG's corporate headquarters reflected in a window in Stuttgart, Germany, on Sept. 30, 2021. Marijan Murat/dpa via AP

FRANKFURT, Germany—Shareholders in Daimler AG, maker of Mercedes-Benz luxury cars, on Friday approved the spinoff of the company’s truck division, a move intended to let the world’s largest maker of trucks react faster to change and focus on the new low-emission technologies transforming the automotive industry.

The voting at an online shareholder meeting also means that Stuttgart-based Daimler will rename itself as Mercedes-Benz Group AG as of Feb. 1, 2022.