Daimler has committed more than €100 million to help create separate legal entities for its Mercedes-Benz cars and Daimler Trucks divisions, a move that would facilitate an eventual break up of the German company.
"We not only need to be as close as possible to our customers' pulse, but also to be able to react as quickly and flexibly as possible to market developments and a fundamentally changing competitive environment," finance chief Bodo Uebber said.
Daimler, which has annual sales of €153 billion,said it did not plan to divest any of its divisions and no final decision on the legal split had been made.
Alongside the Financial Services business, the two new entities would combine Mercedes-Benz cars and vans operations as well as trucks and buses divisions, the company said.
The Stuttgart-based company said in a separate statement on Monday that it was not pursuing any savings, efficiencies or job cuts related to the reorganisation. – Reuters
