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

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 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 se ...

. 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 Beiji ...

and Aston Martin. 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. 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 w ...

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 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 (where it is equi ...

) – 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 tw ...

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 ...

later Steyr-Daimler-Puch 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 opposing ...

, 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 engine ...

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 engi ...

s, and submarines. 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 and Hirohito, 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

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 Chrysler Corporation, 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 Beve ...

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 broad ...

, 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 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 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 telecommunications, information technology, and consumer electronics corporation, established in 1865. Nokia's main headquarters are in Espoo, Finland, i ...

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, 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 entrepreneur ...

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 comp ...

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 c ...

development initiatives as part of its efforts to embrace electric vehicles."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 made with polycarbonate from CO₂ electrolysis 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 stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange ( lis ...

. 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 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: Human Resources and Director of Labor Relations. * Markus Schäfer: 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.: 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. 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 aerospace corporation. Airbus designs, manufactures and sells civil and military aerospace products worldwide and manufactures aircraft throughout the world. The company has three divisions: ' ...

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 (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 ...

s worldwide: * Mercedes-Benz Cars **

– High performance vehicles **

– Introduced November 2014 **

*** Share Now **

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 ...

– 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, McLare ...

(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) is a fictional island mentioned in an allegory on the hubris of nations in Plato's works '' Timaeus'' and '' Critias'', wherein it represents the antagonist naval power that b ...

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

Berlin Berlin ( , ) is the capital and List of cities in Germany by population, largest city of Germany by both area and population. Its 3.7 million inhabitants make it the European Union's List of cities in the European Union by population within ci ...

, , Germany , , Various engines, components, transmission parts and fuel systems , , 2,538 , , , - , Bremen , , Germany , , C-Class ( sedan, estate & coupé), 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 , , 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 t ...

Michigan Michigan () is a U.S. state, state in the Great Lakes region, Great Lakes region of the Upper Midwest, upper Midwestern United States. With a population of nearly 10.12 million and an area of nearly , Michigan is the List of U.S. states and ...

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

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

, , Germany , , Sprinter (body and assembly) , , 6,571 , , , - , East London , , South Africa , , C-Class (sedan) , , 2,743 , , , - , Fuzhou , , China , , Mercedes-Benz Vito, Vito, Mercedes-Benz Vito, Viano, Sprinter
(body and assembly) , , 1,544 , , , - , Gaggenau , , Germany , , Manual transmission, Manual and automatic transmissions, axles, torque converters & pressed parts , , 6,280 , , , - , Gastonia, North Carolina, Gastonia, North Carolina , , USA , , Parts production , , 1,262 , , , - , Hambach, Moselle, Hambach , , France , , Smart Fortwo and smart electric drive , , 822 , , , - , Hamburg , , Germany , , Axles and axle components, steering columns, components for exhaust emission technology and lightweight structural parts , , 2,752 , , , - , Kassel , , Germany , , Axles, drive shafts & other components , , 2,820 , , , - , Kecskemét , , Hungary , , Mercedes-Benz B-Class, B-Class & Mercedes-Benz CLA-Class, CLA-Class , , 3,358 , , , - , Kölleda , , Germany , , Multi-cylinder engine#Three-cylinder engines, Three- and four-cylinder engines
, , 914 , , , - , Ludwigsfelde , , Germany , , Sprinter (body and assembly) , , 1,993 , , , - , Mannheim , , Germany , , Foundry, engines (production & remanufacturing) and green technology engines) , , 5,113 , , , - , Pune , , India , , C-Class, E-Class, Mercedes-Benz GL-Class, GL-Class, Mercedes-Benz M-Class, M-Class, Mercedes-Benz S-Class, S-Class, Research and Development , , 717 , , , - , Rastatt , , Germany , , Mercedes-Benz A-Class, A-Class, B-Class & Mercedes-Benz GLA-Class, GLA-Class , , 6,557 , , , - , Castro Urdiales, Sámano-Castro Urdiales , , Spain , , Chassis , , 246 , , , - , Sindelfingen , , Germany , , E-Class (sedan and estate), Mercedes-Benz S-Class, S-Class, Mercedes-Benz CL-Class, CL-Class, Mercedes-Benz CLS-Class, CLS-Class, Mercedes-AMG GT, AMG GT
Research and development , , 26,134 , , , - , Stuttgart , , Germany , , Company headquarters
Engines, axles, transmissions & other components
Pre-commissioning foundry and forge
Research and development , , 17,973 , , , - , Toluca , , Mexico , , Refurbishing of engines, transmissions and other components, , , , - , Tuscaloosa, Alabama, Tuscaloosa, Alabama , , USA , , C-Class, Mercedes-Benz M-Class, M-Class, Mercedes-Benz R-Class, R-Class, Mercedes-Benz GL-Class, GL-Class , , 3,127 , , , - , Vitoria-Gasteiz , , Spain , , Vito, V-Class
(body and assembly) , , 3,293 , , , - , Gunung Putri, Wanaherang, Gunung Putri, Bogor , , Indonesia , , Mercedes-Benz A Class, Mercedes-Benz C Class, Mercedes-Benz E Class, Mercedes-Benz GLA , Mercedes-Benz GLA Class, Mercedes-Benz GLC-Class, Mercedes-Benz GLC Class, Mercedes-Benz GLE, Mercedes-Benz GLE Class, Mercedes-Benz GL-Class, Mercedes-Benz GLS Class, Mercedes-Benz S Class, , , , , - , Samut Prakarn
(Thonburi Automotive) , , Thailand , , Mercedes-Benz C Class, Mercedes-Benz E Class, Mercedes-Benz GLC-Class, Mercedes-Benz GLC Class, Mercedes-Benz GLE, Mercedes-Benz GLE Class, Mercedes-Benz GL-Class, Mercedes-Benz GLS Class, Mercedes-Benz S Class, , , ,

Holdings

In 2015, Daimler held interests in the following companies: *89.29% Mitsubishi Fuso Truck and Bus Corporation of Japan *50%

(Shenzhen BYD Daimler New Technology Co., Ltd) *12% Beijing Automotive Group (BAIC) *15% KAMAZ of Russia *20% Aston Martin, Aston Martin Lagonda Until the end of 2011, the company had also held shares in McLaren Group. Daimler held 25% of MV Agusta of Italy until 2017. Daimler sold its 50% stake in Engine Holding, to its joint venture partner, Rolls-Royce Holdings in 2014. It is now called Rolls-Royce Power Systems AG. Daimler used to own 50.1% Automotive Fuel Cell Cooperation 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 (200 and 230E) sedans in China under a joint venture with FAW Group, with 828 units assembled in Changchun. Beijing Jeep was a joint venture between Chrysler and

. After DaimlerChrysler was formed, its legal name was changed to Beijing Benz 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 Foton Motor, Beiqi Foton (a subsidiary of BAIC) to build Auman trucks.

Force Motors

Daimler has partnered with Force Motors since the 1950s, they let Force Motors use the Mercedes-Benz OM616 engine, OM616 on the Force Gurkha and Force Trax, Trax.

Denza

In 2010 BYD Auto 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 and China Motor Corporation and created Fujian Benz (originally Fujian Daimler Automotive Co.).

SsangYong Motors

Between 1990 and 2010 SsangYong partnered with Daimler-Benz. The deal was for SsangYong to develop an Sport utility vehicle, SUV 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 SUV market. This resulted in the SsangYong Musso, Musso, which was sold first by Mercedes-Benz and later by SsangYong. SsangYong further benefited from this alliance, long after Daimler-Benz stopped selling the Musso, producing a badge engineered version of the Mercedes-Benz MB100, the SsangYong Istana, Istana and using Daimler designs in many other models, including the second-generation SsangYong Korando#Second generation, Korando (engine and transmission), the SsangYong Rexton, Rexton (transmission), the SsangYong Chairman#Chairman H (1997–2011), Chairman H (chassis and transmission) and the SsangYong Kyron, 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 SsangYong Chairman#Chairman W (2008–2017), Chairman W in china as the Roewe R95/850 and the SsangYong Kyron, 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 Mercedes-Benz W120/W121, W121 chassis. Micro Cars, Micro 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-Nissan executives, Carlos Ghosn and Dieter Zetsche announced a partnership between the three companies. The first fruits of the alliance in 2012 included engine sharing (Infiniti Q50 utilising Mercedes diesel engines) and a re-badged Renault Kangoo being sold as a Mercedes-Benz Citan.

Alternative propulsion

Electric

Daimler AG and the utility company RWE, RWE AG were set in 2009 to begin a joint electric car and charging station test project in the German capital,

, called "E-Mobility Berlin". Following trials in 2007 and then with Tesla Motors, Tesla in 2009, Daimler is building a production Smart electric drive 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 for later use. Daimler plans to invest €1.5 billion in battery technology, and unveiled a factory in Kamenz in May 2017. In September 2019, Daimler redirected its

development initiatives to focus on electric vehicle 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 development for some time, with a number of research and concept vehicles shown and demonstrated, the first being the 2002 Mercedes-Benz F-Cell car and the Mercedes-Benz Citaro 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 (W221)#S 400 Hybrid .282009.E2.80.932013.29, Mercedes-Benz S-Class 400 Hybrid. and the Citaro Hybrid bus in 2007. Daimler Trucks and Mitusbishi Fuso have also trialed various hybrid models including the Mitsubishi Fuso Canter Eco Hybrid and Mitsubishi Fuso Aero Star Aero Star Eco Hybrid bus.

Biofuel research

Daimler AG is involved in a joint project with Archer Daniels Midland Company and Bayer CropScience to develop the semi-evergreen shrub jatropha curcas as a biofuel.

Formula One

On 16 November 2009, Daimler and Aabar Investments purchased a 75.1% stake in Brawn GP (Daimler holding 45.1%). The company was rebranded as Mercedes-Benz in Formula One, Mercedes GP with its base in Brackley, UK and Ross Brawn remaining team principal. The Brawn purchase led to Daimler selling back its stake in McLaren 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 Mercedes-AMG, AMG Petronas F1 Team) wholly Daimler-owned. Daimler also owns

which, as of 2021, supplied engines to Aston Martin F1 Team, Aston Martin, Williams Grand Prix Engineering, Williams and McLaren F1 Team, McLaren, in addition to Mercedes AMG Petronas.

O-Bahn

The O-Bahn system was conceived by Daimler-Benz to enable buses to avoid traffic congestion by sharing tram tunnels in the German city of Essen. However, the project did not materialise there; the project O-Bahn_Busway, was built in the Australian city of Adelaide.

Bribery and corruption

On 1 April 2010, Daimler AG's German and Russian subsidiaries each pleaded guilty to two counts of bribery charges brought by the U.S. Justice Department and the U.S. Securities and Exchange Commission. The parent company made a US$185 million Settlement (litigation), settlement, but the company and its Chinese subsidiary remained subject to a two-year deferred prosecution agreement 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, 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 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 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 Stuttgart 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, Turkmenbashi (Saparmurat Niyazov), including a golden box and 10,000 copies of his personal manifesto, ''Ruhnama'', translated into German. Investigators also found that the firm violated the terms of the United Nations' Oil-for-Food Programme#Daimler AG Kickbacks Case, Oil-for-Food Programme with Iraq by giving Kickback (bribery), kickbacks worth 10% of the contract values to officials within the Iraqi government, then led by Saddam Hussein. 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 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 accounts, third-party agents and deceptive pricing practices, [Daimler AG, its subsidiaries and its affiliates] saw foreign bribery as a way of doing business," said Mythili Raman, 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, 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, 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 exchanges. Daimler AG was listed with the symbol "DAI" on the New York Stock Exchange, 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

* * * * * * * * * * * * * * * * *

External links

* * {{Authority control Mercedes-Benz Group, 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