Daimler planning to spin off its truck-making unit

Feb 07, 2021 AlShorts Web Desk

German automaker Daimler is planning to spin off Daimler trucks business, which is world’s largest truck and bus maker. Daimler aims to raise investor appeal as a focused electric, luxury car business. The decision has led to rise in its shares by nearly 9%, and highlights efforts by Mercedes to challenge others in EV segment. Final decision may be taken at Q3-end, and stocks could be listed by 2021-end.