The Mercedes-Benz Group AG (previously named Daimler-Benz, DaimlerChrysler and Daimler) is a German multinational automotive corporation headquartered in

Stuttgart Stuttgart (; Swabian: ; ) is the capital and largest city of the German state of Baden-Württemberg. It is located on the Neckar river in a fertile valley known as the ''Stuttgarter Kessel'' (Stuttgart Cauldron) and lies an hour from the ...

Baden-Württemberg Baden-Württemberg (; ), commonly shortened to BW or BaWü, is a German state () in Southwest Germany, east of the Rhine, which forms the southern part of Germany's western border with France. With more than 11.07 million inhabitants across a ...

, Germany. It is one of the world's leading car manufacturers. Daimler-Benz was formed with the merger of Benz & Cie. and

Daimler Motoren Gesellschaft Daimler-Motoren-Gesellschaft (abbreviated as DMG, also known as ''Daimler Motors Corporation'') was a German engineering company and later automobile manufacturer, in operation from 1890 until 1926. Founded by Gottlieb Daimler (1834–1900) and ...

in 1926. The company was renamed DaimlerChrysler upon acquiring the American automobile manufacturer

Chrysler Corporation Stellantis North America (officially FCA US and formerly Chrysler ()) is one of the " Big Three" automobile manufacturers in the United States, headquartered in Auburn Hills, Michigan. It is the American subsidiary of the multinational automoti ...

in 1998, and was again renamed Daimler AG upon divestment of Chrysler in 2007. In 2021, Daimler AG was the second-largest German automaker and the sixth-largest worldwide by production. In February 2022, Daimler was renamed Mercedes-Benz Group. The Mercedes-Benz Group's marques are

Mercedes-Benz Mercedes-Benz (), commonly referred to as Mercedes and sometimes as Benz, is a German luxury and commercial vehicle automotive brand established in 1926. Mercedes-Benz AG (a Mercedes-Benz Group subsidiary established in 2019) is headquartere ...

for cars and vans (including

Mercedes-AMG Mercedes-AMG GmbH, commonly known as AMG, is the high-performance subsidiary of Mercedes-Benz AG. AMG independently hires engineers and contracts with manufacturers to customize Mercedes-Benz AMG vehicles. The company has its headquarters in A ...

and

Mercedes-Maybach Maybach (, ) is a German luxury car brand that exists today as a part of Mercedes-Benz. The original company was founded in 1909 by Wilhelm Maybach and his son Karl Maybach, originally as a subsidiary of ''Luftschiffbau Zeppelin GmbH'', and ...

) and

Smart Smart or SMART may refer to: Arts and entertainment * ''Smart'' (Hey! Say! JUMP album), 2014 * Smart (Hotels.com), former mascot of Hotels.com * ''Smart'' (Sleeper album), 1995 debut album by Sleeper * ''SMart'', a children's television ser ...

. It has shares in other vehicle manufactures such as

Daimler Truck Daimler Truck AG (holding company legal name Daimler Truck Holding AG) is one of the world's largest commercial vehicle manufacturers, with over 35 main locations worldwide and approximately 100,000 employees. Daimler Truck AG is headquartered in ...

Denza Shenzhen BYD New Energy Co., Ltd., trading as Denza, is an automobile manufacturing company headquartered in Shenzhen, China, specialising in luxury electric cars and an equally owned joint venture between BYD and the Mercedes-Benz Group. Foun ...

BAIC Motor BAIC Motor Corporation Limited is a Chinese automaker headquartered in Beijing. The H shares (foreigner share in offshore market) of the company were traded in the Hong Kong Stock Exchange. It was part of BAIC Group, itself a subsidiary of Bei ...

and

Aston Martin Aston Martin Lagonda Global Holdings PLC is an English manufacturer of luxury sports cars and grand tourers. Its predecessor was founded in 1913 by Lionel Martin and Robert Bamford. Steered from 1947 by David Brown, it became associated with ...

. By unit sales, the Mercedes-Benz Group is the thirteenth-largest car manufacturer. The group provides financial services through its

Mercedes-Benz Mobility Mercedes-Benz Mobility AG (formerly Daimler Financial Services and Daimler Mobility) is the global financial and mobility services provider of the Mercedes-Benz Group. The company finances, leases and insures Daimler Group passenger cars and com ...

arm. The company is a component of the Euro Stoxx 50

stock market index In finance, a stock index, or stock market index, is an index that measures a stock market, or a subset of the stock market, that helps investors compare current stock price levels with past prices to calculate market performance. Two of the ...

. The central company headquarters, the Mercedes-Benz offices, a car assembly plant, the

Mercedes-Benz Museum The Mercedes-Benz Museum is an automobile museum in Stuttgart, Germany. It covers the history of the Mercedes-Benz brand and the brands associated with it. Stuttgart is home to the Mercedes-Benz brand and the international headquarters of the Me ...

and the Mercedes-Benz Arena are situated in the Mercedes-Benz complex in Stuttgart . China is currently the company's largest market, accounting for around 37% of all sales in 2021.

History

1926–1998: Daimler-Benz

The Mercedes-Benz Group origin is in an ''Agreement of Mutual Interest'' signed on 1 May 1924 between Benz & Cie. (founded 1883 by

Karl Benz Carl Friedrich Benz (; 25 November 1844 – 4 April 1929), sometimes also Karl Friedrich Benz, was a German engine designer and automotive engineer. His Benz Patent Motorcar from 1885 is considered the first practical modern automobile and fir ...

) and

(founded 1890 by

Gottlieb Daimler Gottlieb Wilhelm Daimler (; 17 March 1834 – 6 March 1900) was a German engineer, industrial designer and industrialist born in Schorndorf (Kingdom of Württemberg, a federal state of the German Confederation), in what is now Germany. He was a ...

and

Wilhelm Maybach Wilhelm Maybach (; 9 February 1846 – 29 December 1929) was an early German engine designer and industrialist. During the 1890s he was hailed in France, then the world centre for car production, as the "King of Designers". From the late 19th ce ...

). Both companies continued to manufacture their separate automobile and internal combustion engine

marque A brand is a name, term, design, symbol or any other feature that distinguishes one seller's good or service from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create an ...

s until 28 June 1926, when Benz & Cie. and Daimler-Motoren-Gesellschaft formally merged – becoming Daimler-Benz AG (

Aktiengesellschaft (; abbreviated AG, ) is a German word for a corporation limited by Share (finance), share ownership (i.e. one which is owned by its shareholders) whose shares may be traded on a stock market. The term is used in Germany, Austria, Switzerland (wh ...

) – and agreed that thereafter, all of the factories would use the brand name of "

" on their automobiles. The inclusion of the name Mercedes in the new brand name honored the most important model series of DMG automobiles, the Mercedes series, which were designed and built by

. They derived their name from a 1900 engine named after the

daughter A daughter is a female offspring; a girl or a woman in relation to her parents. Daughterhood is the state of being someone's daughter. The male counterpart is a son. Analogously the name is used in several areas to show relations between group ...

Emil Jellinek Emil Jellinek, known after 1903 as Emil Jellinek-Mercedes (6 April 1853 – 21 January 1918) was a wealthy European automobile entrepreneur with Daimler Motoren Gesellschaft (DMG), responsible in 1900 for commissioning the first modern automobile ...

. Jellinek became one of DMG's directors in 1900, ordered a small number of

motor racing Motorsport, motorsports or motor sport is a global term used to encompass the group of competitive sporting events which primarily involve the use of motorized vehicles. The terminology can also be used to describe forms of competition of two ...

cars built to his specifications by Maybach, stipulated that the engine must be named ''Daimler-Mercedes'', and made the new automobile famous through motorsports. That race car later became known as the ''

Mercedes 35 hp The Mercedes (german: Mercedes ) was a radical early car model designed in 1901 by Wilhelm Maybach and Paul Daimler, for Emil Jellinek. Produced in Stuttgart, Germany, by Daimler-Motoren-Gesellschaft (DMG), it began the Mercedes line of car ...

''. The first of the series of production models bearing the name Mercedes had been produced by DMG in 1902. Jellinek left the DMG board of directors in 1909. The name of Daimler as a marque of automobiles had been given by Gottlieb Daimler for use by other companies. It is or was used principally by

Daimler Motor Company The Daimler Company Limited ( ), prior to 1910 The Daimler Motor Company Limited, was an independent British motor vehicle manufacturer founded in London by H. J. Lawson in 1896, which set up its manufacturing base in Coventry. The compan ...

and

Austro-Daimler Austro-Daimler was an Austro-Hungarian automaker company, from 1899 until 1934. It was a subsidiary of the German ''Daimler-Motoren-Gesellschaft'' (DMG) until 1909. Early history In 1890, Eduard Bierenz was appointed as Austrian retailer. The com ...

later

Steyr-Daimler-Puch Steyr-Daimler-Puch () was a large manufacturing conglomerate based in Steyr, Austria, which was broken up in stages between 1987 and 2001. The component parts and operations continued to exist under separate ownership and new names. History T ...

but also, very briefly by

Daimler Manufacturing Company The Daimler Manufacturing Company (DMFG), was a boutique American automaker company from 1898 to 1907. From 1888 to 1898, the company was known as the Daimler Motor Company (DMC), formed under a partnership between Gottlieb Daimler of Daimler-Mo ...

and Panhard-Daimler, and others. The new company, Daimler-Benz, did not obtain consent to include Daimler in its brand name and used the name Mercedes to represent the Daimler-Motoren-Gesellschaft interest.

remained as a member of the board of directors of Daimler-Benz AG until his death in 1929. Although Daimler-Benz is best known for its

automobile brand, during

World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...

, it also created a notable series of engines for German

aircraft An aircraft is a vehicle that is able to fly by gaining support from the air. It counters the force of gravity by using either static lift or by using the dynamic lift of an airfoil, or in a few cases the downward thrust from jet engines ...

tank A tank is an armoured fighting vehicle intended as a primary offensive weapon in front-line ground combat. Tank designs are a balance of heavy firepower, strong armour, and good battlefield mobility provided by tracks and a powerful engin ...

s, and

submarines A submarine (or sub) is a watercraft capable of independent operation underwater. It differs from a submersible, which has more limited underwater capability. The term is also sometimes used historically or colloquially to refer to remotely o ...

. Its cars became the first choice of many Nazi, Fascist Italian, and Japanese officials including

Hermann Göring Hermann Wilhelm Göring (or Goering; ; 12 January 1893 – 15 October 1946) was a German politician, military leader and convicted war criminal. He was one of the most powerful figures in the Nazi Party, which ruled Germany from 1933 to 1 ...

Adolf Hitler Adolf Hitler (; 20 April 188930 April 1945) was an Austrian-born German politician who was dictator of Nazi Germany, Germany from 1933 until Death of Adolf Hitler, his death in 1945. Adolf Hitler's rise to power, He rose to power as the le ...

Benito Mussolini Benito Amilcare Andrea Mussolini (; 29 July 188328 April 1945) was an Italian politician and journalist who founded and led the National Fascist Party. He was Prime Minister of Italy from the March on Rome in 1922 until his deposition in 194 ...

and

Hirohito Emperor , commonly known in English-speaking countries by his personal name , was the 124th emperor of Japan, ruling from 25 December 1926 until his death in 1989. Hirohito and his wife, Empress Kōjun, had two sons and five daughters; he was ...

, who most notably used the

Mercedes-Benz 770 The Mercedes-Benz 770, also known as the ''Großer Mercedes'' (German for "Big Mercedes"), was a large luxury car built by Mercedes-Benz from 1930 until 1944. It is probably best known from its use by high-ranking Nazi German politicians and other ...

luxury car. Daimler also produced parts for German arms, most notably barrels for

Mauser Mauser, originally Königlich Württembergische Gewehrfabrik ("Royal Württemberg Rifle Factory"), was a German arms manufacturer. Their line of bolt-action rifles and semi-automatic pistols has been produced since the 1870s for the German arme ...

Kar98k The Karabiner 98 kurz (; "carbine 98 short"), often abbreviated Karabiner 98k, Kar98k or K98k and also sometimes incorrectly referred to as a K98 (a K98 is a Polish carbine and copy of the Kar98a), is a bolt-action rifle chambered for the 7.92×57 ...

rifles. During

, Daimler-Benz had over 60,000 concentration camp prisoners and other forced laborers to build machinery. After the war, Daimler admitted to its links and coordination with the

Nazi Nazism ( ; german: Nazismus), the common name in English for National Socialism (german: Nationalsozialismus, ), is the far-right totalitarian political ideology and practices associated with Adolf Hitler and the Nazi Party (NSDAP) in ...

government. In 1966, Maybach-Motorenbau GmbH merged with Mercedes-Benz Motorenbau Friedrichshafen GmbH to form Maybach Mercedes-Benz Motorenbau GmbH, under partial ownership by Daimler-Benz. The company is renamed Motoren und Turbinen-Union Friedrichshafen GmbH (MTU Friedrichshafen) in 1969. In 1989, Daimler-Benz InterServices AG (Debis) was created to handle data processing, financial and insurance services, and real estate management for the Daimler group. In 1995,

MTU Friedrichshafen MTU Friedrichshafen GmbH is a German manufacturer of commercial internal combustion engines founded by Wilhelm Maybach and his son Karl Maybach in 1909. Wilhelm Maybach was the technical director of Daimler-Motoren-Gesellschaft (DMG), a predec ...

became a wholly owned subsidiary of Daimler-Benz.

1998–2007: DaimlerChrysler

In a so-called "merger of equals," or "marriage made in heaven", according to its then CEO and architect Jürgen E. Schrempp, Daimler-Benz and United States-based automobile manufacturer

, the smallest of the main three American automakers, merged in 1998 in an exchange of shares and formed DaimlerChrysler AG. Valued at 38 billion, it was the world's largest ever cross-border deal. The terms of the merger allowed Daimler-Benz's non-automotive businesses such as Daimler-Benz InterServices AG, "debis AG" for short, to continue to pursue their respective strategies of expansion. ''debis AG'' reported revenues of $8.6 bn (DM 15.5 bn) in 1997. The merger was contentious with investors launching lawsuits over whether the transaction was the 'merger of equals' that senior management claimed or actually amounted to a Daimler-Benz takeover of Chrysler. A

class action A class action, also known as a class-action lawsuit, class suit, or representative action, is a type of lawsuit where one of the parties is a group of people who are represented collectively by a member or members of that group. The class actio ...

investor lawsuit was settled in August 2003 for US$300 million while a suit by billionaire investor activist

Kirk Kerkorian Kerkor Kerkorian ( hy, Գրիգոր Գրիգորեան; June 6, 1917 – June 15, 2015) was an American businessman, investor, and philanthropist. He was the president and CEO of Tracinda Corporation, his private holding company based in Beverl ...

was dismissed on 7 April 2005. The transaction claimed the job of its architect, Chairman Jürgen E. Schrempp, who resigned at the end of 2005 in response to the fall of the company's share price following the transaction. Another issue of contention is whether the merger delivered promised synergies and successfully integrated the two businesses.

Martin H. Wiggers Martin Helmut Wiggers (born 31 July 1963) is a German economist, editor, author and businessman. Education In the 1980s Wiggers studied Business Administration at the Munich School Of Strategic Management of the Ludwig Maximilian University of Mun ...

' concept of a platform strategy like the VW Group, was implemented only for a few models, so the synergy effects in development and production were too low. As late as 2002, DaimlerChrysler appeared to run two independent product lines. Later that year, the company launched products that appeared to integrate elements from both sides of the company, including the

Chrysler Crossfire The Chrysler Crossfire is a rear-wheel drive, two-seat sports car that was sold by Chrysler and built by Karmann of Germany for the 2004 to 2008 model years. Developed during the union of Daimler and Chrysler, the two-seater is based on the ...

, which was based on the Mercedes SLK platform and utilized Mercedes's 3.2 L V6, and the

Dodge Sprinter The Mercedes-Benz Sprinter is a light commercial vehicle ( van) built by Mercedes-Benz Group AG of Stuttgart, Germany as a large van, chassis cab, minibus, and pickup truck. In the past, the Sprinter had been sold under the Mercedes-Benz, Do ...

/ Freightliner Sprinter, a re-badged

Mercedes-Benz Sprinter The Mercedes-Benz Sprinter is a light commercial vehicle (van) built by Mercedes-Benz Group AG of Stuttgart, Germany as a large van, chassis cab, minibus, and pickup truck. In the past, the Sprinter had been sold under the Mercedes-Benz, Dod ...

van. In 2000, DaimlerChrysler acquired the

Detroit Diesel Corporation Detroit Diesel Corporation (DDC) is an American diesel engine manufacturer headquartered in Detroit, Michigan, United States. It is a subsidiary of Daimler Truck North America, which is itself a wholly owned subsidiary of the mulitinational D ...

and placed its on-highway division under Daimler Trucks North America. The off-highway division was placed under MTU Friedrichshafen to form MTU America. Detroit Diesel branding has been maintained by DTNA and MTU America. In 2005, MTU-Friedrichshafen was sold to the Swedish investment firm EQT Partners. That same year, DaimlerChrysler entered into an alliance with Mitsubishi Motors Corporation in an effort to reach the Asian market."Don't Wait For More" (boxout)
Murakami Mutsuko, ''

Asiaweek ''Asiaweek'' was an English-language news magazine focusing on Asia, published weekly by Asiaweek Limited, a subsidiary of Time Inc. Based in Hong Kong, it was established in 1975, and ceased publication with its 7 December 2001 issue due to a ...

'' vol.26, no.13, 7 April 2000, The alliance resulted in the platform sharing between the 2002-2013 Colt and first-generation Smart Forfour, but the declining performance of Mitsubishi led DaimlerChrysler to sell its shares back by 2004."DaimlerChrysler dumps Mitsubishi"

BBC News BBC News is an operational business division of the British Broadcasting Corporation (BBC) responsible for the gathering and broadcasting of news and current affairs in the UK and around the world. The department is the world's largest broadca ...

, 23 April 2004 Chrysler reported losses of US$1.5 billion in 2006. It then announced plans to lay off 13,000 employees in mid-February 2007, close a major assembly plant and reduce production at other plants in order to restore profitability by 2008. DaimlerChrysler had reportedly approached other carmakers and investment groups to sell Chrysler in early 2007. General Motors was reported to be a suitor, but Daimler agreed to sell the Chrysler unit to

Cerberus Capital Management Cerberus Capital Management, L.P. is an American private equity firm,Leaders Magazine"Providing Economic Opportunity: An Interview with The Honorable Dan Quayle, Chairman, Cerberus Global Investments, LLC". specializing in distressed investing. ...

in May 2007 for US$6 billion and completed the sale on 3 August 2007. Through most of its history, Chrysler has been the smallest of the "Big 3" U.S. automakers, but in January 2007, DaimlerChrysler, excluding its luxury Mercedes and Maybach lines, also outsold traditionally second place Ford, though behind

General Motors The General Motors Company (GM) is an American Multinational corporation, multinational Automotive industry, automotive manufacturing company headquartered in Detroit, Michigan, United States. It is the largest automaker in the United States and ...

and

Toyota is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on . Toyota is one of the largest automobile manufacturers in the world, producing about 10 ...

. The original agreement stated that Cerberus would take an 80.1 percent stake in the new company, Chrysler Holding LLC. DaimlerChrysler changed its name to Daimler AG and retained the remaining 19.9% stake in the separated Chrysler LLC. The terms saw Daimler pay Cerberus US$650 million to take Chrysler and associated liabilities off its hands. Of the US$7.4 billion purchase price,

was to invest US$5 billion in Chrysler Holdings and US$1.05 billion in Chrysler's financial unit. The de-merged Daimler AG received US$1.35 billion directly from Cerberus but directly invested US$2 billion in Chrysler itself. Chrysler filed bankruptcy in 2009. DC Aviation rose in 2007 from the previous DaimlerChrysler Aviation, an auxiliary of DaimlerChrysler AG, which was established in 1998.

2007–2022: Daimler AG

In May 2010, the ''Shenzhen BYD Daimler New Technology Co., Ltd.'', trading as "Denza" was established between BYD and Daimler to produce luxury electric vehicles. In November 2014, Daimler announced it would acquire 25 percent of Italian motorcycle producer

MV Agusta MV Agusta (, full name: MV AGUSTA Motor S.p.A., original name: Meccanica Verghera Agusta or MV) is a motorcycle manufacturer founded by Count Domenico Agusta on 19 January 1945 as one of the branches of the Agusta aircraft company near Milan in ...

for an undisclosed fee. MV Holding acquired the 25 percent of MV Agusta back from Daimler in December 2017. On 3 August 2015,

Nokia Nokia Corporation (natively Nokia Oyj, referred to as Nokia) is a Finnish multinational corporation, multinational telecommunications industry, telecommunications, technology company, information technology, and consumer electronics corporatio ...

announced that it had reached a deal to sell its

Here Here is an adverb that means "in, on, or at this place". It may also refer to: Software * Here Technologies, a mapping company * Here WeGo (formerly Here Maps), a mobile app and map website by Here Technologies, Here Television * Here TV (form ...

digital maps division to a consortium of three German automakers— BMW, Daimler AG, and

Volkswagen Group Volkswagen AG (), known internationally as the Volkswagen Group, is a German multinational automotive manufacturer headquartered in Wolfsburg, Lower Saxony, Germany. The company designs, manufactures and distributes passenger and commercial ...

, for €2.8 billion. This was seen as an indication that the automakers were interested in automated cars. In 2017, Daimler announced a series of acquisitions and partnerships with car startups focused on car sharing, in a move towards what it sees as the next generation of car ownership and usage. Part of its corporate strategy is to "transition from being an automobile manufacturer to a mobility services provider". In April 2017 it announced a partnership with

Via Via or VIA may refer to the following: Science and technology * MOS Technology 6522, Versatile Interface Adapter * ''Via'' (moth), a genus of moths in the family Noctuidae * Via (electronics), a through-connection * VIA Technologies, a Taiwan ...

, a New York-based ride-sharing app, to launch a new ride-sharing service across Europe. In September, it was announced that Daimler had led a fundraising round for car-sharing start up Turo, which is a platform that lets owners rent their vehicles out to other users. It also acquired Flinc, a German startup that has built an app for peer-to-peer-style carpooling, has invested in Storedot,

Careem Careem is a Dubai-based super app with operations in over 100 cities, covering 12 countries across the Middle East, Africa, and South Asia regions. The company, which was valued at over billion in 2018, became a wholly-owned subsidiary of Uber ...

Blacklane Blacklane GmbH is a German company based in Berlin which provides a chauffeur portal connecting people to professional chauffeurs via their mobile app, website and hotline.Millward, Steven"Aiming to usurp Uber, Blacklane arrives in 18th Asian ...

and FlixBus, and has acquired

car2go Share Now GmbH is a German carsharing company, formed from the merger of Car2Go and DriveNow. Since 2022, it is a subsidiary of the Free2Move division of multinational automaker Stellantis providing carsharing services in urban areas in Europe ...

and mytaxi (now Free Now).

Li Shufu Li Shufu (; born 25 June 1963) is a Chinese billionaire businessman. He is the founder and chairman of Geely. Early life Li Shufu was born in Taizhou, Zhejiang. He earned a master's degree from Yanshan University. Career Li founded Geely ...

of Chinese automobile manufacturer

Geely Zhejiang Geely Holding Group Co., Ltd (ZGH), commonly known as Geely (吉利 "auspicious"), is a Chinese multinational automotive company headquartered in Hangzhou, Zhejiang. The company is privately held by Chinese billionaire entrepreneu ...

took a 9.69% stake in the company, through Tenaciou3 Prospect Investment Limited, in February 2018, making it the company's largest single shareholder. Geely is already known from its ownership of

Volvo Car Corporation Volvo Cars ( sv, Volvo personvagnar, styled VOLVO in the company's logo) is a Swedish multinational manufacturer of luxury vehicles headquartered in Torslanda, Gothenburg. The company manufactures SUVs, station wagons, and sedans. The company ...

. In September 2018, Daimler invested $155 million in US-based electric bus and its battery management technology manufacturer Proterra. In July 2019,

BAIC Group Beijing Automotive Group Co., Ltd. (BAIC) is a Chinese state-owned automobile manufacturer headquartered in Shunyi, Beijing. Founded in 1958, it is the sixth largest automobile manufacturer in China, with 1.723 million sales in 2021. The com ...

purchased a 5% stake in Daimler, which is a reciprocal shareholder in

BAIC Beijing Automotive Group Co., Ltd. (BAIC) is a Chinese state-owned automobile manufacturer headquartered in Shunyi, Beijing. Founded in 1958, it is the sixth largest automobile manufacturer in China, with 1.723 million sales in 2021. The comp ...

's Hong Kong listed subsidiary. In September 2019, Daimler announced that it would be "stopping its

internal combustion engine An internal combustion engine (ICE or IC engine) is a heat engine in which the combustion of a fuel occurs with an oxidizer (usually air) in a combustion chamber that is an integral part of the working fluid flow circuit. In an internal combus ...

development initiatives as part of its efforts to embrace

electric vehicle An electric vehicle (EV) is a vehicle that uses one or more electric motors for propulsion. It can be powered by a collector system, with electricity from extravehicular sources, or it can be powered autonomously by a battery (sometimes cha ...

s."Daimler abandons internal combustion engine development to focus on EVs
, accessed 20 September 2019. In February 2020, Daimler partnered with Twelve to create the world's first

C-pillar The pillars on a car with permanent roof body style (such as four-door sedans) are the vertical or nearly vertical supports of its window area or greenhouse—designated respectively as the ''A, B, C'' and (in larger cars such as 4-door stat ...

made with

polycarbonate Polycarbonates (PC) are a group of thermoplastic polymers containing carbonate groups in their chemical structures. Polycarbonates used in engineering are strong, tough materials, and some grades are optically transparent. They are easily work ...

from CO₂

electrolysis In chemistry and manufacturing, electrolysis is a technique that uses direct electric current (DC) to drive an otherwise non-spontaneous chemical reaction. Electrolysis is commercially important as a stage in the separation of elements from n ...

in an effort towards a fully

carbon neutral Carbon neutrality is a state of net-zero carbon dioxide emissions. This can be achieved by balancing emissions of carbon dioxide with its removal (often through carbon offsetting) or by eliminating emissions from society (the transition to the "p ...

fleet. In February 2021, Daimler said it planned to rename itself adopting the name of its flagship marque, Mercedes-Benz, and spun off its heavy commercial vehicles unit,

, into a separate

listed company A public company is a company whose ownership is organized via shares of share capital, stock which are intended to be freely traded on a stock exchange or in Over-the-counter (finance), over-the-counter markets. A public (publicly traded) comp ...

. Daimler Truck is listed on the Frankfurt Stock Exchange and its first trading day was on 10 December 2021. In the 2021 review of

WIPO The World Intellectual Property Organization (WIPO; french: link=no, Organisation mondiale de la propriété intellectuelle (OMPI)) is one of the 15 specialized agencies of the United Nations (UN). Pursuant to the 1967 Convention Establishin ...

's annual

World Intellectual Property Indicators World Intellectual Property Indicators (WIPI) is an annual statistical report published by the World Intellectual Property Organization (WIPO). The publication provides an overview of the activity in the areas of patents, utility models, trademarks, ...

Daimler ranked 8th in the world, with 65 of its designs in industrial design registrations being published under the

Hague System The Hague Agreement Concerning the International Deposit of Industrial Designs, also known as the '' Hague system'' provides a mechanism for registering an industrial design in several countries by means of a single application, filed in one lan ...

during 2020. This position is up on its previous 10th place ranking in 2019.

2022–present: Mercedes-Benz Group

On 28 January 2022, CEO Ola Källenius announced that Daimler will be rebranded as Mercedes-Benz to pursue a higher valuation for the company as it shifts deeper into electric vehicles packed with digital gadgets. On 1 February 2022, Daimler officially changed its registered company name to Mercedes-Benz Group AG.

Corporate affairs

Management

Ola Källenius Sten Ola Källenius (born 11 June 1969) is a Swedish business executive. He is the chairman of the board of management of Mercedes-Benz Group, and CEO of Mercedes-Benz. He is the first non-German in both positions. Education Källenius graduat ...

became the Chairman of Mercedes-Benz Group and Head of Mercedes-Benz Cars on 22 May 2019. , the members of the Board of Management of Mercedes-Benz Group AG were: *

: Chairman of the Board of Management of Mercedes-Benz Group AG and Mercedes-Benz AG. * Renata Jungo Brüngger: Integrity and Legal Affairs. * Jörg Burzer: Production and Supply Chain Management. *

Sabine Kohleisen The Sabines (; lat, Sabini; it, Sabini, all exonyms) were an Italic people who lived in the central Apennine Mountains of the ancient Italian Peninsula, also inhabiting Latium north of the Anio before the founding of Rome. The Sabines divid ...

: Human Resources and Director of Labor Relations. *

Markus Schäfer Markus Schäfer (born 13 June 1961) is a German lyric tenor, a soloist in opera, oratorio, and '' Lied''. He has performed with major opera houses and with the ensemble La Petite Bande. He has been a professor of voice at the Musikhochschule Ha ...

: Chief Technology Officer responsible for Development and Purchasing. *

Britta Seeger Britta Seeger (born 25 September 1969) is a German business executive. She is currently the second female member of the Board of Management of Daimler AG alongside Renata Jungo Brüngger and, after her predecessor Christine Hohmann-Dennhardt, ...

: Mercedes-Benz Cars Marketing and Sales. * Hubertus Troska: Greater China * Harald Wilhelm: Finance and Controlling and Head of Mercedes-Benz Mobility

2019 shareholder structure according to the BaFin

According to the German Securities Trading Act (Wertpapierhandelsgesetz, WpHG) paragraph § 38 owner of rights like financial options to buy common shares with voting rights have to be reported in case certain threshold values are achieved. These owners must report the sum of owned common shares and potential rights to buy additional shares. The German

Federal Financial Supervisory Authority The Federal Financial Supervisory Authority (german: Bundesanstalt für Finanzdienstleistungsaufsicht, Bundesanstalt für Finanzdienstleistungsaufsicht) better known by its abbreviation BaFin is the financial regulatory authority for Germany. It ...

(BaFin) reports the following shareholder structure based on § 39 WpHG, (Date: Tuesday, 19 November 2019): *

Bank of America Corporation The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank ...

: 20.25% * BlackRock, Inc.: 5.09% *

Harris Associates L.P. Harris Associates L.P. is a Chicago-based investment company that manages $86 billion in assets as of September 30, 2022. Harris manages long-only U.S. equity, international equity, and global equity strategies which are offered through its mu ...

: 4.93% *

with Tenaciou3 Prospect Investment Limited: 9.69% *

Morgan Stanley Morgan Stanley is an American multinational investment management and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in more than 41 countries and more than 75,000 employees, the fir ...

: 5.7% *

People's Republic of China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...

: 5%

EADS shareholding

As of March 2010, Daimler owned a 22.5% share of

EADS Airbus SE (; ; ; ) is a European multinational aerospace corporation. Airbus designs, manufactures and sells civil and military aerospace products worldwide and manufactures aircraft throughout the world. The company has three divisions: '' ...

. In April 2013, Daimler sold its shares in EADS, and the same year, EADS restructured itself into a new aerospace company named

Airbus Airbus SE (; ; ; ) is a European Multinational corporation, multinational aerospace corporation. Airbus designs, manufactures and sells civil and military aerospace manufacturer, aerospace products worldwide and manufactures aircraft througho ...

Leadership

; Daimler-Benz AG (1926–1998) * Wilhelm Kissel (1926–1942) *

Wilhelm Haspel Wilhelm Haspel (1898 - 6 January 1952) was a German business executive. He served as the chairman and chief executive officer of Daimler AG from 1942 to 1952. Early life Wilhem Haspel was born in 1898. He graduated from the University of Stuttgar ...

(1942–1952) * Heinrich C. Wagner (1952) * Fritz Koenecke (1952–1960) * Walter Hitzinger (1961–1966) *

Joachim Zahn Professor Joachim Zahn (born Wuppertal 24 January 1914, died Munich 8 October 2002) was the chairman of Daimler Benz AG between 1971 and 1979. Zahn was the youngest of four sons of a Wuppertal Lawyer. He himself studied law at Tübingen and late ...

(1966–1979) * Gerhard Prinz (1980–1983) * Werner Breitschwerdt (1983–1987) * Edzard Reuter (1987–1995) * Jürgen E. Schrempp (1995–1998) ; DaimlerChrysler AG (1998–2007) * Jürgen E. Schrempp (1998–2006) **

Robert James Eaton Robert James "Bob" Eaton (born 13 February 1940) is an American businessman, who was Chairman and former Chief executive officer, CEO of Chrysler Corporation. Early life Eaton was born in Buena Vista, Colorado, Buena Vista, Colorado and grew up ...

(co-CEO, 1998–2000) *

Dieter Zetsche Dieter Zetsche (; born on 5 May 1953) is a German engineer and business executive. He is the chairman of TUI AG. He was the chairman of the board of management of Daimler AG and head of Mercedes-Benz until 22 May 2019, a role he had held since 200 ...

(2006–2007) ; Daimler AG (2007–present) * Dieter Zetsche (2007–2019) *

(2019–present)

Financial data

North Charleston expansion

On 5 March 2015, Daimler AG announced a 1,200-job package to the North Charleston region for its van plant, to allow the company to start manufacturing Mercedes-Benz Sprinter vans from scratch to meet demand in North America. From 2010, these vans were set up in Germany, then shipped to the United States partially disassembled for reassembly to avoid import tariffs. A Daimler official said that the Sprinter's popularity in North America was making that process less efficient. The North Charleston plant had been employing only 100 workers. The Sprinter is available on the U.S. market as a panel van, crew bus and chassis in several variants with three lengths and roof heights, six-cylinder diesel or gasoline engines. The Sprinter has been assembled and sold in the United States since 2001.

Brands

The Mercedes-Benz Group sells automobiles under the following

brand A brand is a name, term, design, symbol or any other feature that distinguishes one seller's good or service from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create an ...

s worldwide: * Mercedes-Benz Cars **

– High performance vehicles **

– Introduced November 2014 **

***

Share Now Share Now GmbH is a German carsharing company, formed from the merger of Car2Go and DriveNow. Since 2022, it is a subsidiary of the Free2Move division of multinational automaker Stellantis providing carsharing services in urban areas in Europe, ...

Maybach Maybach (, ) is a Automotive industry in Germany, German luxury car brand that exists today as a part of Mercedes-Benz. The original company was founded in 1909 by Wilhelm Maybach and his son Karl Maybach, originally as a subsidiary of ''Lufts ...

– production ended in 2012, but the ultra-high end S-class and GLS-class is sold as

* Mercedes-Benz Vans ** Mercedes-Benz (vans group) *

Mercedes-Benz Bank Mercedes-Benz Bank AG is a universal bank with seat in Stuttgart. Mercedes-Benz Group founded in 1979 the Mercedes Leasing GmbH and in 1987 the Mercedes-Benz Finanz GmbH. The universal bank was founded under the name DaimlerChrysler Bank in 2001 a ...

** Mercedes-Benz Financial Services * Others **

Mercedes AMG High Performance Powertrains Mercedes AMG High Performance Powertrains (previously known as Ilmor Engineering and Mercedes-Benz High Performance Engines) is a Formula One engine manufacturer, owned by Mercedes-Benz. The company supplied Sauber during the season, McLaren ...

(builds engines for Formula One racing)

Locations

The Mercedes-Benz Group has a worldwide network of production plants and research centers. The following list describes all locations around the world. , - ,

Atlantis Atlantis ( grc, Ἀτλαντὶς νῆσος, , island of Atlas (mythology), Atlas) is a fictional island mentioned in an allegory on the hubris of nations in Plato's works ''Timaeus (dialogue), Timaeus'' and ''Critias (dialogue), Critias'' ...

, , South Africa , ,

Foundry A foundry is a factory that produces metal castings. Metals are cast into shapes by melting them into a liquid, pouring the metal into a mold, and removing the mold material after the metal has solidified as it cools. The most common metals pr ...

, , , , , - ,

Beijing } Beijing ( ; ; ), alternatively romanized as Peking ( ), is the capital of the People's Republic of China. It is the center of power and development of the country. Beijing is the world's most populous national capital city, with over 21 ...

, , China , , C-Class, E-Class (long versions for Chinese market) & GLK & GLA,
Auman trucks (assembly)

Four-cylinder engines The engine configuration describes the fundamental operating principles by which internal combustion engines are categorized. Piston engines are often categorized by their cylinder layout, valves and camshafts. Wankel engines are often categorize ...

(production & assembly), six-cylinder engines (assembly) , , 8,878 , , , - ,

Bengaluru Bangalore (), officially Bengaluru (), is the capital and largest city of the Indian state of Karnataka. It has a population of more than and a metropolitan population of around , making it the third most populous city and fifth most ...

, India , Mercedes-Benz Research and Development , 2900 , N/A , - ,

Berlin Berlin ( , ) is the capital and largest city of Germany by both area and population. Its 3.7 million inhabitants make it the European Union's most populous city, according to population within city limits. One of Germany's sixteen constitue ...

, , Germany , , Various engines, components, transmission parts and fuel systems , , 2,538 , , , - ,

Bremen Bremen (Low German also: ''Breem'' or ''Bräm''), officially the City Municipality of Bremen (german: Stadtgemeinde Bremen, ), is the capital of the German state Free Hanseatic City of Bremen (''Freie Hansestadt Bremen''), a two-city-state consis ...

, , Germany , , C-Class ( sedan, estate &

coupé A coupe or coupé (, ) is a passenger car with a sloping or truncated rear roofline and two doors. The term ''coupé'' was first applied to horse-drawn carriages for two passengers without rear-facing seats. It comes from the French past parti ...

), E-Class (coupé and

convertible A convertible or cabriolet () is a passenger car that can be driven with or without a roof in place. The methods of retracting and storing the roof vary among eras and manufacturers. A convertible car's design allows an open-air driving expe ...

), SLK, SL, GLK , , 12,714 , , , - ,

Buenos Aires Buenos Aires ( or ; ), officially the Autonomous City of Buenos Aires ( es, link=no, Ciudad Autónoma de Buenos Aires), is the capital and primate city of Argentina. The city is located on the western shore of the Río de la Plata, on South ...

, , Argentina , , Sprinter (body and assembly)
Assembly of

chassis A chassis (, ; plural ''chassis'' from French châssis ) is the load-bearing framework of an artificial object, which structurally supports the object in its construction and function. An example of a chassis is a vehicle frame, the underpart ...

, , 1,783 , , , - , Charleston,

South Carolina )''Animis opibusque parati'' ( for, , Latin, Prepared in mind and resources, links=no) , anthem = " Carolina";" South Carolina On My Mind" , Former = Province of South Carolina , seat = Columbia , LargestCity = Charleston , LargestMetro = ...

, , USA , , Sprinter (assembly) , , 104 , , , - ,

Detroit Detroit ( , ; , ) is the largest city in the U.S. state of Michigan. It is also the largest U.S. city on the United States–Canada border, and the seat of government of Wayne County. The City of Detroit had a population of 639,111 at th ...

Michigan Michigan () is a state in the Great Lakes region of the upper Midwestern United States. With a population of nearly 10.12 million and an area of nearly , Michigan is the 10th-largest state by population, the 11th-largest by area, and the ...

, , USA , , Engines, transmissions, axle assembly , , 2,164 , , , - ,

Düsseldorf Düsseldorf ( , , ; often in English sources; Low Franconian and Ripuarian: ''Düsseldörp'' ; archaic nl, Dusseldorp ) is the capital city of North Rhine-Westphalia, the most populous state of Germany. It is the second-largest city in th ...

, , Germany , , Sprinter (body and assembly) , , 6,571 , , , - ,

East London East or Orient is one of the four cardinal directions or points of the compass. It is the opposite direction from west and is the direction from which the Sun rises on the Earth. Etymology As in other languages, the word is formed from the f ...

, , South Africa , , C-Class (sedan) , , 2,743 , , , - ,

Fuzhou Fuzhou (; , Fuzhounese: Hokchew, ''Hók-ciŭ''), alternately romanized as Foochow, is the capital and one of the largest cities in Fujian province, China. Along with the many counties of Ningde, those of Fuzhou are considered to constitute t ...

, , China , ,

Vito Vito is an Italian name that is derived from the Latin word "''vita''", meaning "life". It is a modern form of the Latin name Vitus, meaning "life-giver," as in San Vito or Saint Vitus, the patron saint of dogs and a heroic figure in southern ...

, Viano, Sprinter
(body and assembly) , , 1,544 , , , - ,

Gaggenau Gaggenau is a town in the district of Rastatt, in Baden-Württemberg, Germany. It is located some 8 km northeast of Baden-Baden. History Gaggenau was first mentioned in local records in 1243 under the name "Gaggenaw". The present distric ...

, , Germany , , Manual and

automatic transmission An automatic transmission (sometimes abbreviated to auto or AT) is a multi-speed transmission used in internal combustion engine-based motor vehicles that does not require any input from the driver to change forward gears under normal driving c ...

s, axles,

torque converter A torque converter is a type of fluid coupling that transfers rotating power from a prime mover, like an internal combustion engine, to a rotating driven load. In a vehicle with an automatic transmission, the torque converter connects the power ...

s & pressed parts , , 6,280 , , , - , Gastonia,

North Carolina North Carolina () is a state in the Southeastern region of the United States. The state is the 28th largest and 9th-most populous of the United States. It is bordered by Virginia to the north, the Atlantic Ocean to the east, Georgia and So ...

, , USA , , Parts production , , 1,262 , , , - , Hambach , , France , , Smart Fortwo and

smart electric drive The Smart EQ Fortwo, formerly Smart Fortwo electric drive, ''smart ed'' or Smart Fortwo EV, is a battery electric vehicle variant of the Smart Fortwo city car made by Smart. The Smart EQ Forfour is an electric variant of the larger Smart Forfou ...

, , 822 , , , - ,

Hamburg (male), (female) en, Hamburger(s), Hamburgian(s) , timezone1 = Central (CET) , utc_offset1 = +1 , timezone1_DST = Central (CEST) , utc_offset1_DST = +2 , postal ...

, , Germany , ,

Axle An axle or axletree is a central shaft for a rotating wheel or gear. On wheeled vehicles, the axle may be fixed to the wheels, rotating with them, or fixed to the vehicle, with the wheels rotating around the axle. In the former case, bearing ...

s and axle components, steering columns, components for exhaust emission technology and lightweight structural parts , , 2,752 , , , - ,

Kassel Kassel (; in Germany, spelled Cassel until 1926) is a city on the Fulda River in northern Hesse, Germany. It is the administrative seat of the Regierungsbezirk Kassel and the district of the same name and had 201,048 inhabitants in December 2020 ...

, , Germany , , Axles,

drive shaft A drive shaft, driveshaft, driving shaft, tailshaft (Australian English), propeller shaft (prop shaft), or Cardan shaft (after Girolamo Cardano) is a component for transmitting mechanical power (physics), power and torque and rotation, usually ...

s & other components , , 2,820 , , , - ,

Kecskemét Kecskemét ( , sk, Kečkemét) is a city with county rights central part Hungary. It is the eighth-largest city in the country, and the county seat of Bács-Kiskun. Kecskemét lies halfway between the capital Budapest and the country's third ...

, , Hungary , , B-Class &

CLA-Class The Mercedes-Benz CLA class is a series of Luxury vehicle#Premium compact, luxury compact executive cars manufactured by Mercedes-Benz since 2013. The first generation was a four-door Sedan (automobile), sedan based on the platform of the Mercedes ...

, , 3,358 , , , - ,

Kölleda Kölleda (until 1927 Cölleda) is a small rural town in Thuringia. The municipality belongs to the district of Sömmerda and is located about ten kilometres east of the district town of Sömmerda on the edge of the Thuringian Basin. It is the thi ...

, , Germany , , Three- and four-cylinder engines
, , 914 , , , - ,

Ludwigsfelde Ludwigsfelde is a town in the north of the district Teltow-Fläming in Brandenburg. Geography Location The town is located south of Berlin in the district Teltow-Fläming on the plateau of Teltow. In earlier times, it was part of the district Zo ...

, , Germany , , Sprinter (body and assembly) , , 1,993 , , , - ,

Mannheim Mannheim (; Palatine German: or ), officially the University City of Mannheim (german: Universitätsstadt Mannheim), is the second-largest city in the German state of Baden-Württemberg after the state capital of Stuttgart, and Germany's 2 ...

, , Germany , , Foundry, engines (production &

remanufacturing Remanufacturing is "the rebuilding of a product to specifications of the original manufactured product using a combination of reused, repaired and new parts". It requires the repair or replacement of worn out or obsolete components and modules. ...

) and green technology engines) , , 5,113 , , , - ,

Pune Pune (; ; also known as Poona, (List of renamed Indian cities and states#Maharashtra, the official name from 1818 until 1978) is one of the most important industrial and educational hubs of India, with an estimated population of 7.4 million ...

, , India , , C-Class, E-Class,

GL-Class The Mercedes-Benz GLS, formerly Mercedes-Benz GL-Class, is a full-size luxury SUV produced by Mercedes-Benz since 2006. In each of its generations it is a three-row, seven-passenger vehicle positioned above the GLE (formerly Mercedes-Benz M-Class ...

, M-Class, S-Class, Research and Development , , 717 , , , - ,

Rastatt Rastatt () is a town with a Baroque core, District of Rastatt, Baden-Württemberg, Germany. It is located in the Upper Rhine Plain on the Murg river, above its junction with the Rhine and has a population of around 50,000 (2011). Rastatt was a ...

, , Germany , , A-Class, B-Class & GLA-Class , , 6,557 , , , - , Sámano-Castro Urdiales , , Spain , , Chassis , , 246 , , , - ,

Sindelfingen Sindelfingen ( Swabian: ''Sendlfenga'') is a city in Baden-Württemberg in south Germany. It lies near Stuttgart at the headwaters of the Schwippe (a tributary of the river Würm), and is home to a Mercedes-Benz assembly plant. History * 1155 � ...

, , Germany , , E-Class (sedan and estate), S-Class, CL-Class,

CLS-Class The Mercedes-Benz CLS (initially called the CLS-Class) is a series of executive cars produced by Mercedes-Benz since 2004. The original model was a four-door fastback Sedan (car), sedan based on the Mercedes-Benz E-Class, E-Class platform, market ...

, AMG GT
Research and development , , 26,134 , , , - ,

, , Germany , , Company headquarters
Engines, axles, transmissions & other components
Pre-commissioning foundry and

forge A forge is a type of hearth used for heating metals, or the workplace (smithy) where such a hearth is located. The forge is used by the smith to heat a piece of metal to a temperature at which it becomes easier to shape by forging, or to th ...

Research and development , , 17,973 , , , - ,

Toluca Toluca , officially Toluca de Lerdo , is the States of Mexico, state capital of the State of Mexico as well as the seat of the Municipality of Toluca. With a population of 910,608 as of the 2020 census, Toluca is the fifth most populous city in M ...

, , Mexico , , Refurbishing of engines, transmissions and other components, , , , - ,

Tuscaloosa Tuscaloosa ( ) is a city in and the seat of Tuscaloosa County in west-central Alabama, United States, on the Black Warrior River where the Gulf Coastal and Piedmont plains meet. Alabama's fifth-largest city, it had an estimated population of 1 ...

Alabama (We dare defend our rights) , anthem = "Alabama (state song), Alabama" , image_map = Alabama in United States.svg , seat = Montgomery, Alabama, Montgomery , LargestCity = Huntsville, Alabama, Huntsville , LargestCounty = Baldwin County, Al ...

, , USA , , C-Class, M-Class, R-Class,

, , 3,127 , , , - ,

Vitoria-Gasteiz es, vitoriano, vitoriana, , population_density_km2 = auto , blank_name_sec1 = Official language(s) , blank_info_sec1 = Spanish, Basque , timezone = CET , utc_offset = +1 , timezone_DST ...

, , Spain , , Vito, V-Class
(body and assembly) , , 3,293 , , , - , Wanaherang, Gunung Putri,

Bogor Bogor ( su, , nl, Buitenzorg) is a city in the West Java province, Indonesia. Located around south of the national capital of Jakarta, Bogor is the 6th largest city in the Jakarta metropolitan area and the 14th overall nationwide.Indonesia Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania between the Indian and Pacific oceans. It consists of over 17,000 islands, including Sumatra, Java, Sulawesi, and parts of Borneo and New Guine ...

, ,

Mercedes-Benz A Class The Mercedes-Benz A-Class is a subcompact car produced by the German automobile manufacturer Mercedes-Benz as the brand's entry-level vehicle. The first generation (internally coded W168) was introduced in 1997, the second generation (W169) in ...

Mercedes-Benz C Class The Mercedes-Benz C-Class is a series of compact executive cars produced by Mercedes-Benz Group AG. Introduced in 1993 as a replacement for the 190 (W201) range, the C-Class was the smallest model in the marque's line-up until the W168 A-Class ...

, Mercedes-Benz E Class, Mercedes-Benz GLA Class, Mercedes-Benz GLC Class, Mercedes-Benz GLE Class, Mercedes-Benz GLS Class,

Mercedes-Benz S Class The Mercedes-Benz S-Class, formerly known as ''Sonderklasse'' (German for "special class", abbreviated as "S-Klasse"), is a series of full-sized luxury sedans, limousines and armored sedans produced by the German automaker Mercedes-Benz, a div ...

, , , , , - , Samut Prakarn
(Thonburi Automotive) , ,

Thailand Thailand ( ), historically known as Siam () and officially the Kingdom of Thailand, is a country in Southeast Asia, located at the centre of the Indochinese Peninsula, spanning , with a population of almost 70 million. The country is bo ...

, ,

, Mercedes-Benz E Class, Mercedes-Benz GLC Class, Mercedes-Benz GLE Class, Mercedes-Benz GLS Class,

, , , ,

Holdings

In 2015, Daimler held interests in the following companies: *89.29%

Mitsubishi Fuso Truck and Bus Corporation The is a manufacturer of trucks and buses. It is headquartered in Kawasaki, Kanagawa, Japan. Currently, it is 89.29% owned by Germany-based Daimler Truck.

of Japan *50%

(Shenzhen BYD Daimler New Technology Co., Ltd) *12% Beijing Automotive Group (BAIC) *15% KAMAZ of Russia *20%

Aston Martin Lagonda The Aston Martin Lagonda is a full-size luxury four-door saloon manufactured by British manufacturer Aston Martin between 1974 and 1990. A total of 645 were produced. The name was derived from the Lagonda marque that Aston Martin had purchas ...

Until the end of 2011, the company had also held shares in McLaren Group. Daimler held 25% of

of Italy until 2017. Daimler sold its 50% stake in

Engine Holding An engine or motor is a machine designed to convert one or more forms of energy into mechanical energy. Available energy sources include potential energy (e.g. energy of the Earth's gravitational field as exploited in hydroelectric power ...

, to its joint venture partner,

Rolls-Royce Holdings Rolls-Royce Holdings plc is a British multinational aerospace and defence company incorporated in February 2011. The company owns Rolls-Royce, a business established in 1904 which today designs, manufactures and distributes power systems for ...

in 2014. It is now called

Rolls-Royce Power Systems Rolls-Royce Power Systems AG is a German company owned by Rolls-Royce Holdings with holdings in engine manufacturing brands and facilities. The company previously traded, from 2006 to 2014, as Tognum AG. Prior to 2006, the core company – MTU ...

AG. Daimler used to own 50.1%

Automotive Fuel Cell Cooperation Automotive Fuel Cell Cooperation (AFCC) was a Vancouver, British Columbia, Canada, based automotive fuel cell technology company. The company was formed on February 1, 2008 as a spin-off from its predecessor, Ballard Power Systems to allow for fu ...

of Canada but the joint venture was closed in 2018.

Joint ventures and alliances

FAW and later Beijing Automotive Group

From 1986 to 1989, Daimler produced the

Mercedes-Benz W123 The Mercedes-Benz W123 is a range of executive cars produced by German manufacturer Mercedes-Benz from November 1975 to January 1986. The W123 models surpassed their predecessor, the Mercedes-Benz W114, as the most successful Mercedes, selling 2. ...

(200 and 230E) sedans in China under a joint venture with

FAW Group China FAW Group Corp., Ltd. (First Automobile Works) is a Chinese state-owned automobile manufacturer headquartered in Changchun, Jilin.

, with 828 units assembled in Changchun.

Beijing Jeep Beijing Benz (officially Beijing Benz Automotive Co., Ltd) is an automotive manufacturing company headquartered in Beijing, China, and a joint venture between BAIC Motor and Mercedes-Benz Group. It was originally established in January 1984 as ...

was a joint venture between Chrysler and

. After DaimlerChrysler was formed, its legal name was changed to

Beijing Benz Beijing Benz (officially Beijing Benz Automotive Co., Ltd) is an automotive manufacturing company headquartered in Beijing, China, and a joint venture between BAIC Motor and Mercedes-Benz Group. It was originally established in January 1984 as ...

in 2004, and it started producing Mercedes-Benz models in 2006. The partnership has continued during the Daimler AG era. In February 2013, Daimler acquired a 12% stake in BAIC Motor, becoming the first western car manufacturer to own a stake in a Chinese company. Daimler works with China's

Beiqi Foton BAIC Foton Motor Co., Ltd. ( ), known as Foton Motor or Foton, is a Chinese company that designs and manufactures trucks, buses and sport utility vehicles . It is headquartered in Changping, Beijing, and is a subsidiary of the BAIC Group. Histo ...

(a subsidiary of BAIC) to build Auman trucks.

Force Motors

Daimler has partnered with

Force Motors Force Motors Ltd, is an Indian multinational automotive manufacturing company, based in Pune, India and the flagship company of the Dr. Abhay Firodia Group. From 1958 until 2005, the company was known as Bajaj Tempo Motors because it originat ...

since the 1950s, they let Force Motors use the OM616 on the

Force Gurkha Force Gurkha is an compact SUV produced by Indian manufacturer Force Motors. The original and second generation Gurkha are produced as two-door trucks with options of a removable hard or soft top. Standard equipment includes mechanical diffe ...

and Trax.

Denza

In 2010

BYD Auto BYD Auto Co., Ltd. ("Build Your Dreams") is the automotive subsidiary of the publicly-listed Chinese multinational manufacturer BYD Company, headquartered in Xi'an, Shaanxi Province, China. It was founded in January 2003, following BYD Compa ...

and Daimler AG created a new joint venture Shenzhen BYD Daimler New Technology Co., Ltd. In 2012 the new brand Denza was launched by the joint venture to specialise in electric cars.

Fujian Benz

In 2007 Daimler created a joint venture with

Fujian Motors Group The Fujian Motors Group is based in the Fujian Province, China and was founded in 1992. Group companies include Fujian Benz (50% joint venture with Daimler AG), Soueast Motors (50%), King Long (a bus manufacturer) (15%) and Higer Bus. Brands Fu ...

and

China Motor Corporation China Motor Corporation (CMC; ) is an automobile manufacturer based in Taipei, Taiwan. History It was founded in June 1969, and signed a technology sharing contract with Mitsubishi Motors the following year. On 12 December 1973 they opened the ...

and created

Fujian Benz Fujian Benz Automotive Co., Ltd., formerly Fujian Daimler Automotive Co., Ltd., is a light commercial vehicle manufacturing company based in Fuzhou, and a joint venture between Daimler Vans Hong Kong Limited (a joint venture of the Mercedes-Benz Gr ...

(originally Fujian Daimler Automotive Co.).

SsangYong Motors

Between 1990 and 2010 SsangYong partnered with

Daimler-Benz The Mercedes-Benz Group Aktiengesellschaft, AG (previously named Daimler-Benz, DaimlerChrysler and Daimler) is a German Multinational corporation, multinational automotive corporation headquartered in Stuttgart, Baden-Württemberg, Germany. It ...

. The deal was for SsangYong to develop an

SUV A sport utility vehicle (SUV) is a car classification that combines elements of road-going passenger cars with features from off-road vehicles, such as raised ground clearance and four-wheel drive. There is no commonly agreed-upon definiti ...

with

technology. This was supposedly to allow SsangYong to gain footholds in new markets without having to build their own infrastructure (utilizing existing Mercedes-Benz networks) while giving Mercedes a competitor in the then-booming

market. This resulted in the

Musso Munawar Musso (1897, in Kediri, East Java – Madiun, on 31 October 1948) was a leader of the Communist Party of Indonesia and one of the key figures in the 1948 Madiun affair. Biography Early life Musso was born Munawar Musso in 1897, Pagu, ...

, which was sold first by Mercedes-Benz and later by SsangYong. SsangYong further benefited from this alliance, long after

stopped selling the Musso, producing a badge engineered version of the

Mercedes-Benz MB100 The Mercedes-Benz MB100 (Model type 631) is a light commercial cabover van ( M) made by Mercedes-Benz España S.A. from 1981 to 1996 at their Vitoria-Gasteiz factory in northern Spain. The third generation model was manufactured by SsangYong alo ...

, the

Istana ''Istana'' is an Indonesian language, Indonesian and Malay language, Malay word meaning "palace". Notable Istanas *Istana Alam Shah, the official palace of the Sultan of Selangor *Istana Besar, 19th- and early 20th-century residence of the Sultan o ...

and using Daimler designs in many other models, including the second-generation

Korando The SsangYong Korando (Korean: 쌍용 코란도) is a mini SUV or compact crossover SUV built by the South Korean automobile manufacturer SsangYong from 1983 to 2006 and from 2010 onwards. The name Korando is a contraction of "Korea Can Do". The ...

(engine and transmission), the Rexton (transmission), the Chairman H (chassis and transmission) and the Kyron (transmission). Ssangyong Also Partnered with Daewoo Motors to sell the Chairman, Korando, Istana, and Musso to the rest of South Korea and Asia, Ssangyong later partnered with SAIC (Roewe) to rebadge the Chairman W in china as the Roewe R95/850 and the Kyron as Roewe W5 and also use the Mercedes-Benz 5G-Tronic transmission for the W5, SAIC has been working with Daimler since the 1964 with the Shanghai SH760 using a modified W121 chassis.

Micro Micro may refer to: Measurement * micro- (μ), a metric prefix denoting a factor of 10−6 Places * Micro, North Carolina, town in U.S. People * DJ Micro, (born Michael Marsicano) an American trance DJ and producer *Chii Tomiya (都宮ちい ...

another company that rebadged Ssangyong's like Kyron, Actyon and Rexton using Mercedes-Benz engines.

Renault-Nissan-Mitsubishi and Daimler Alliance

On 7 April 2010,

Renault Groupe Renault ( , , , also known as the Renault Group in English; legally Renault S.A.) is a French multinational automobile manufacturer established in 1899. The company produces a range of cars and vans, and in the past has manufactured ...

Nissan , trade name, trading as Nissan Motor Corporation and often shortened to Nissan, is a Japanese multinational corporation, multinational Automotive industry, automobile manufacturer headquartered in Nishi-ku, Yokohama, Japan. The company sells ...

executives,

Carlos Ghosn Carlos Ghosn (; ; ar, كارلوس غصن; , born 9 March 1954) is a businessman who holds Brazilian and French nationality. Ghosn was the CEO of Michelin North America, chairman and CEO of Renault, chairman of AvtoVAZ, chairman and CEO of Ni ...

and

announced a partnership between the three companies. The first fruits of the alliance in 2012 included engine sharing (

Infiniti Q50 The Infiniti Q50 is a compact executive car manufactured by Nissan for its luxury brand, Infiniti. Replacing the G/Q40 sedan, it debuted at the 2013 North American International Auto Show and went on sale in North America in the third quarter ...

utilising Mercedes diesel engines) and a re-badged

Renault Kangoo The Renault Kangoo is a family of multi purpose vehicles manufactured and marketed by Renault since 1997, in commercial as well as passenger variants, across three generations. For the European market, the Kangoo is manufactured at the MCA plan ...

being sold as a

Mercedes-Benz Citan The Mercedes-Benz Citan is a panel van and leisure activity vehicle introduced as a badge-engineered variant of the Renault Kangoo in 2012 and marketed by Mercedes-Benz as the successor to the Vaneo compact MPV. In the Mercedes-Benz van lineup, ...

Alternative propulsion

Electric

Daimler AG and the utility company

RWE AG RWE AG is a German multinational energy company headquartered in Essen. It generates and trades electricity in Asia-Pacific, Europe and the United States. The company is Europe's most climate threatening Company, the world's number two in offs ...

were set in 2009 to begin a joint electric car and

charging station A charging station, also known as a charge point or electric vehicle supply equipment (EVSE), is a piece of equipment that supplies electrical power for charging plug-in electric vehicles (including electric cars, electric trucks, electric ...

test project in the German capital,

, called "E-Mobility Berlin". Following trials in 2007 and then with Tesla in 2009, Daimler is building a production

Smart electric drive The Smart EQ Fortwo, formerly Smart Fortwo electric drive, ''smart ed'' or Smart Fortwo EV, is a battery electric vehicle variant of the Smart Fortwo city car made by Smart. The Smart EQ Forfour is an electric variant of the larger Smart Forfou ...

car using Tesla's battery technology. Daimler temporarily invested in Tesla, saving it from bankruptcy. Daimler's joint venture with BYD has resulted in the creation of the new brand

. In 2016, Daimler subsidiary ACCUMOTIVE announced their stationary batteries, to store up to 20 kWh of

solar power Solar power is the conversion of energy from sunlight into electricity, either directly using photovoltaics (PV) or indirectly using concentrated solar power. Photovoltaic cells convert light into an electric current using the photovoltaic e ...

for later use. Daimler plans to invest €1.5 billion in battery technology, and unveiled a factory in

Kamenz Kamenz () or Kamjenc ( Sorbian) is a town (''Große Kreisstadt'') in the district of Bautzen in Saxony, Germany. Until 2008 it was the administrative seat of Kamenz District. The town is known as the birthplace of the philosopher and poet Gotthol ...

in May 2017. In September 2019, Daimler redirected its

development initiatives to focus on

technologies, leaving electric propulsion rather less of an "alternative" and more the Daimler mainline. Their Research and Development department has developed a compostable battery that uses graphene-based organic cell chemistry. This means that no rare, toxic metals are needed for the battery, which makes it 100% recyclable.

Fuel cell

Daimler has been involved with

fuel cell vehicle A fuel cell vehicle (FCV) or fuel cell electric vehicle (FCEV) is an electric vehicle that uses a fuel cell, sometimes in combination with a small battery or supercapacitor, to power its onboard electric motor. Fuel cells in vehicles generate elec ...

development for some time, with a number of research and concept vehicles shown and demonstrated, the first being the 2002

Mercedes-Benz F-Cell The F-Cell is a hydrogen fuel cell electric vehicle developed by Daimler AG. Two different versions are known - the previous version was based on the Mercedes-Benz A-Class, and the new model is based on the Mercedes-Benz B-Class. The first genera ...

car and the

Mercedes-Benz Citaro The Mercedes-Benz Citaro is a single-decker, rigid or articulated bus manufactured by Mercedes-Benz/EvoBus. Introduced in 1997, the Citaro is available in a range of configurations, and is in widespread use throughout Europe and parts of Asia ...

hydrogen bus. In 2013, the Renault-Nissan/Daimler alliance was joined by Ford to further develop the fuel cell technology with an aim for production by 2017.

Hybrid

Mercedes-Benz launched its first passenger car model equipped with a hybrid drive system in summer 2009, the Mercedes-Benz S-Class 400 Hybrid. and the Citaro Hybrid bus in 2007.

Daimler Trucks Daimler Truck AG (holding company legal name Daimler Truck Holding AG) is one of the world's largest commercial vehicle manufacturers, with over 35 main locations worldwide and approximately 100,000 employees. Daimler Truck AG is headquartered in ...

and Mitusbishi Fuso have also trialed various hybrid models including the Mitsubishi Fuso Canter Eco Hybrid and

Mitsubishi Fuso Aero Star The Mitsubishi Fuso Aero Star (kana:三菱ふそう・エアロスター) is a heavy-duty single-decker bus produced by the Japanese manufacturer Mitsubishi Fuso. The range was available as either a public bus or a coach. Its principal compe ...

Aero Star Eco Hybrid bus.

Biofuel research

Daimler AG is involved in a joint project with

Archer Daniels Midland Company The Archer-Daniels-Midland Company, commonly known as ADM, is an American multinational food processing and commodities trading corporation founded in 1902 and headquartered in Chicago, Illinois. The company operates more than 270 plants and 4 ...

and

Bayer CropScience Bayer AG (, commonly pronounced ; ) is a German multinational pharmaceutical and biotechnology company and one of the largest pharmaceutical companies in the world. Headquartered in Leverkusen, Bayer's areas of business include pharmaceutica ...

to develop the semi-evergreen shrub

jatropha curcas ''Jatropha curcas'' is a species of flowering plant in the spurge family, Euphorbiaceae, that is native to the American tropics, most likely Mexico and Central America. It is originally native to the tropical areas of the Americas from Mexico to ...

as a

biofuel Biofuel is a fuel that is produced over a short time span from biomass, rather than by the very slow natural processes involved in the formation of fossil fuels, such as oil. According to the United States Energy Information Administration (E ...

Formula One

On 16 November 2009, Daimler and

Aabar Investments Mubadala Investment Company PJSC ( ar, شركة مبادلة للاستثمار), or simply Mubadala, is an Emirati state-owned holding company that acts as a sovereign wealth fund. The company was established in 2017 when then-named Mubadala Dev ...

purchased a 75.1% stake in

Brawn GP Brawn GP was a Formula One constructor which competed in the 2009 Formula One World Championship, with drivers Jenson Button and Rubens Barrichello. The team was formed in 2009 by a management buyout led by Ross Brawn of the Honda Racing F1 ...

(Daimler holding 45.1%). The company was rebranded as Mercedes GP with its base in

Brackley Brackley is a market town and civil parish in West Northamptonshire, England, bordering Oxfordshire and Buckinghamshire, from Oxford and from Northampton. Historically a market town based on the wool and lace trade, it was built on the inters ...

, UK and Ross Brawn remaining team principal. The Brawn purchase led to Daimler selling back its stake in

McLaren McLaren Racing Limited is a British motor racing team based at the McLaren Technology Centre in Woking, Surrey, England. McLaren is best known as a Formula One constructor, the second oldest active team, and the second most successful Formul ...

in stages, completed in 2011. Mercedes continued to provide sponsorship and engines to McLaren until 2014. Prior to the 2011 season, Daimler and Aabar Investments purchased the remaining 24.9% stake owned by the team management in February 2011. In November 2012 Aabar Investments sold its remaining shares, leaving the team (rebranded as Mercedes AMG

Petronas Petroliam Nasional Berhad (National Petroleum Limited), commonly known as Petronas, is a Malaysian oil and gas company. Established in 1974 and wholly owned by the Government of Malaysia, the corporation is vested with all oil and gas reso ...

F1 Team) wholly Daimler-owned. Daimler also owns

which, as of 2021, supplied engines to

, Williams and

, in addition to Mercedes AMG Petronas.

O-Bahn

The

O-Bahn Guided buses are buses capable of being steered by external means, usually on a dedicated track or roll way that excludes other traffic, permitting the maintenance of schedules even during rush hours. Unlike trolleybuses or rubber-tired tra ...

system was conceived by

to enable buses to avoid traffic congestion by sharing

tram A tram (called a streetcar or trolley in North America) is a rail vehicle that travels on tramway tracks on public urban streets; some include segments on segregated right-of-way. The tramlines or networks operated as public transport are ...

tunnels in the German city of

Essen Essen (; Latin: ''Assindia'') is the central and, after Dortmund, second-largest city of the Ruhr, the largest urban area in Germany. Its population of makes it the fourth-largest city of North Rhine-Westphalia after Cologne, Düsseldorf and D ...

. However, the project did not materialise there; the project was built in the Australian city of Adelaide.

Bribery and corruption

On 1 April 2010, Daimler AG's German and Russian

subsidiaries A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a sa ...

each pleaded guilty to two counts of bribery charges brought by the

U.S. Justice Department The United States Department of Justice (DOJ), also known as the Justice Department, is a federal executive department of the United States government tasked with the enforcement of federal law and administration of justice in the United States ...

and the

U.S. Securities and Exchange Commission The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market ...

. The parent company made a US$185 million

settlement Settlement may refer to: *Human settlement, a community where people live *Settlement (structural), the distortion or disruption of parts of a building * Closing (real estate), the final step in executing a real estate transaction *Settlement (fin ...

, but the company and its Chinese subsidiary remained subject to a two-year

deferred prosecution agreement A deferred prosecution agreement (DPA), which is very similar to a non-prosecution agreement (NPA), is a voluntary alternative to adjudication in which a prosecutor agrees to grant amnesty in exchange for the defendant agreeing to fulfill certain ...

requiring further cooperation with regulators, adherence to internal controls and meeting other terms before final sentencing. Daimler would face harsher penalties should it fail to meet the terms of the agreement during the two-year period. Additionally, Louis J. Freeh, a former director of the

Federal Bureau of Investigation The Federal Bureau of Investigation (FBI) is the domestic intelligence and security service of the United States and its principal federal law enforcement agency. Operating under the jurisdiction of the United States Department of Justice, ...

, served as an independent monitor to oversee Daimler's compliance with anti-bribery laws. U.S. prosecutors accused key executives of Daimler, Daimler subsidiaries, and Daimler

affiliates In the broadcasting industry (particularly in North America, and even more in the United States), a network affiliate or affiliated station is a local broadcaster, owned by a company other than the owner of the network, which carries some or ...

of illegally showering foreign officials with money and gifts between 1998 and 2008 to secure government contracts around the world. The investigation for the case revealed that Daimler improperly paid some $56 million in bribes related to more than 200 transactions in at least 22 countries (including China, Russia, Turkey, Hungary, Greece, Latvia, Serbia and Montenegro, Egypt, and Nigeria, among other places) that, in return, awarded the company $1.9 billion in revenue and at least $91.4 million in illegal profits. The SEC case was sparked in 2004 after David Bazzetta, a former auditor at then DaimlerChrysler Corp, filed a

whistleblower A whistleblower (also written as whistle-blower or whistle blower) is a person, often an employee, who reveals information about activity within a private or public organization that is deemed illegal, immoral, illicit, unsafe or fraudulent. Whi ...

complaint after he was fired for raising questions about bank accounts controlled by Mercedes-Benz units in South America. Bazzetta alleged that he learned in a July 2001 corporate audit executive committee meeting in

that business units "continued to maintain secret bank accounts to bribe foreign government officials", though the company knew the practice violated U.S. laws. In another attempt to silence Bazzetta, Daimler later offered to settle his termination of employment suit out of court and he eventually accepted a settlement. But Daimler's strategy with Bazzetta proved to be a failure as the U.S. criminal investigation for violating anti-bribery laws was already underway in what has been one of the most wide-ranging cases brought against a foreign corporation. According to the charges, the bribes were frequently made by over-invoicing customers and paying the excess back to top government officials or their proxies. The bribes also took the form of luxury European vacations, armored Mercedes vehicles for high-ranking government officials and a birthday gift to the dictator of

Turkmenistan Turkmenistan ( or ; tk, Türkmenistan / Түркменистан, ) is a country located in Central Asia, bordered by Kazakhstan to the northwest, Uzbekistan to the north, east and northeast, Afghanistan to the southeast, Iran to the sout ...

, Turkmenbashi (

Saparmurat Niyazov Saparmurat Atayevich Niyazov; tk, Saparmyrat Ataýewiç Nyýazow, in Cyrillic: Сапармырат Атаевич Ныязов (19 February 1940 – 21 December 2006), also known as Turkmenbashi, was a Turkmen politician who rule ...

), including a golden box and 10,000 copies of his personal

manifesto A manifesto is a published declaration of the intentions, motives, or views of the issuer, be it an individual, group, political party or government. A manifesto usually accepts a previously published opinion or public consensus or promotes a ...

, ''

Ruhnama The Ruhnama, or Rukhnama, translated in English as Book of the Soul, is a two volume work written by Saparmurat Niyazov, the President of Turkmenistan from 1990 to 2006. It was intended to serve as a tool of state propaganda, emphasizing the bas ...

'', translated into German. Investigators also found that the firm violated the terms of the United Nations'

Oil-for-Food Programme The Oil-for-Food Programme (OIP), established by the United Nations in 1995 (under United Nations Security Council, UN Security Council United Nations Security Council Resolution 986, Resolution 986) was established to allow Iraq to sell Petrole ...

with

Iraq Iraq,; ku, عێراق, translit=Êraq officially the Republic of Iraq, '; ku, کۆماری عێراق, translit=Komarî Êraq is a country in Western Asia. It is bordered by Turkey to Iraq–Turkey border, the north, Iran to Iran–Iraq ...

by giving

kickbacks A kickback is a form of negotiated bribery in which a commission is paid to the bribe-taker in exchange for services rendered. Generally speaking, the remuneration (money, goods, or services handed over) is negotiated ahead of time. The kickbac ...

worth 10% of the contract values to officials within the Iraqi government, then led by

Saddam Hussein Saddam Hussein ( ; ar, صدام حسين, Ṣaddām Ḥusayn; 28 April 1937 – 30 December 2006) was an Iraqi politician who served as the fifth president of Iraq from 16 July 1979 until 9 April 2003. A leading member of the revolution ...

. The SEC said the company made more than $4 million in profit from the sale of vehicles and spare parts in the corrupt oil-for-food deals. U.S. prosecutors further alleged that some bribes were paid through

shell companies A shell corporation is a company or corporation that exists only on paper and has no office and no employees, but may have a bank account or may hold passive investments or be the registered owner of assets, such as intellectual property, or ...

based in the U.S. "In some cases Daimler wired these improper payments to U.S. bank accounts or to the foreign bank accounts of U.S. shell companies in order to transmit the bribe", the court papers said. Prosecutors said that Daimler engaged in a "long-standing practice" of paying bribes, due in part to a corporate culture that encouraged the practice. "Using

offshore bank An offshore bank is a bank regulated under international banking license (often called offshore license), which usually prohibits the bank from establishing any business activities in the jurisdiction of establishment. Due to less regulation and ...

accounts, third-party agents and deceptive pricing practices, aimler AG, its subsidiaries and its affiliatessaw foreign bribery as a way of doing business," said

Mythili Raman Mythili Raman is a Tamil American lawyer and the former acting Assistant Attorney General for the United States Department of Justice's Criminal Division. Early life and family Mythili is the daughter of Athishdam Tharmaratnam and grand daughte ...

, a principal deputy in the Justice Department's criminal division. "It is no exaggeration to describe corruption and bribe-paying at Daimler as a standard business practice",

Robert Khuzami Robert S. Khuzami (; born August 2, 1956) was the Deputy U.S. Attorney for the United States Attorney's Office for the Southern District of New York until March 22, 2019. He previously was a United States federal prosecutor and Assistant United ...

, director of the SEC's enforcement division, said in a statement. As per the agreement with prosecutors, the two Daimler subsidiaries admitted to knowingly violating the

Foreign Corrupt Practices Act The Foreign Corrupt Practices Act of 1977 (FCPA) (, ''et seq.'') is a United States federal law that prohibits U.S. citizens and entities from bribing foreign government officials to benefit their business interests. The FCPA is applicable world ...

, which bars companies and their officials from paying bribes to foreign officials to win business. The Foreign Corrupt Practices Act applies to any company that lists its shares on U.S.

stock exchange A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for th ...

s. Daimler AG was listed with the symbol "DAI" on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed c ...

, giving the Justice Department jurisdiction over the German car maker's payments in countries around the globe. Judge Richard J. Leon of the United States District Court in Washington, D.C., approved the plea agreement and settlement, calling it a "just resolution". Daimler AG agreed to settle for $2.2 billion to US and California state regulators.

References

Notes

Bibliography

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External links

* * {{Authority control Vehicle manufacturing companies established in 1926 German brands Bus manufacturers of Germany Car manufacturers of Germany Companies listed on the Frankfurt Stock Exchange Multinational companies headquartered in Germany Aabar Investments Companies in the Euro Stoxx 50 Quandt family Renault–Nissan–Mitsubishi Alliance German companies established in 1926