Daimler AG (German pronunciation: [ˈdaɪmlɐ ʔaːˌɡeː] (listen); previously named Daimler-Benz and DaimlerChrysler) is a German multinational automotive corporation, headquartered in Stuttgart, Baden-Württemberg. Daimler-Benz was formed with the merger of Benz & Cie and Daimler Motoren Gesellschaft in 1926. The company was renamed DaimlerChrysler upon acquiring the American automobile manufacturer Chrysler Corporation in 1998, and was again renamed Daimler upon divesting of Chrysler in 2007.
As of 2014, Daimler owned or had shares in a number of car, bus, truck and motorcycle brands including Mercedes-Benz, Mercedes-AMG, Smart Automobile, Detroit Diesel, Freightliner, Western Star, Thomas Built Buses, Setra, BharatBenz, Mitsubishi Fuso, MV Agusta as well as shares in Denza, KAMAZ and Beijing Automotive Group. The luxury Maybach brand was terminated at the end of 2012, but revived in April 2015 as "Mercedes-Maybach" versions of the Mercedes-Benz S-Class and G-Class. In 2017, Daimler sold 3.3 million vehicles. By unit sales, Daimler is the thirteenth-largest car manufacturer and is the largest truck manufacturer in the world. Daimler provides financial services through its Daimler Financial Services arm. The company is a component of the Euro Stoxx 50 stock market index. Daimler AG complex in Stuttgart include central company headquarters, Mercedes-Benz and Daimler car plants, Mercedes-Benz museum and stadium Mercedes-Benz Arena.
Daimler AG central headquarters in Daimler complex in Stuttgart
|Founded||28 June 1926|
|Headquarters||Mercedesstraße, Stuttgart, Germany|
|Products||Automobiles, commercial vehicles|
|Revenue||€167.362 billion (2018)|
|€10.595 billion (2018)|
|€7.582 billion (2018)|
|Total assets||€281.619 billion (2018)|
|Total equity||€66.053 billion (2018)|
Number of employees
|298,683 (Dec. 31, 2018)|
|Footnotes / references|
Daimler AG's origin is in an Agreement of Mutual Interest signed on 1 May 1924 between Benz & Cie (founded 1883 by Karl Benz) and Daimler Motoren Gesellschaft (founded 1890 by Gottlieb Daimler and Wilhelm Maybach). Both companies continued to manufacture their separate automobile and internal combustion engine marques until 28 June 1926, when Benz & Cie. and Daimler-Motoren-Gesellschaft formally merged - becoming Daimler-Benz AG (Aktiengesellschaft) - and agreed that thereafter, all of the factories would use the brand name of "Mercedes-Benz" 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 Wilhelm Maybach. They derived their name from a 1900 engine named after the daughter of Emil Jellinek. Jellinek became one of DMG's directors in 1900, ordered a small number of motor racing 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 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 sold by DMG - following his death in 1900 - for use by other companies (Daimler Motor Company and Austro-Daimler). Since the new company, Daimler-Benz, would have created confusion and legal problems by including Daimler in its new brand name, it therefore used the name Mercedes to represent the Daimler-Motoren-Gesellschaft interest. Karl Benz 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 Mercedes-Benz automobile brand, during World War II, it also created a notable series of aircraft, tank, and submarine engines. Daimler also produced parts for German arms, most notably barrels for the Mauser rifle. During World War II, Daimler-Benz employed slave labour.
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 1995, MTU Friedrichshafen became a wholly owned subsidiary of Daimler-Benz.
In a so-called "Merger of Equals," or "Marriage made in Heaven", according to its then CEO and architect Jürgen E. Schrempp, Daimler-Benz AG 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 US$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, (created in 1989 to handle data processing, financial and insurance services, and real estate management for the Daimler group) 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 investor lawsuit was settled in August 2003 for US$300 million while a suit by billionaire investor activist Kirk Kerkorian 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. The merger was also the subject of a book Taken for a Ride: How Daimler-Benz Drove Off With Chrysler, (2000) by Bill Vlasic and Bradley A. Stertz.
Another issue of contention is whether the merger delivered promised synergies and successfully integrated the two businesses. Martin H. Wiggers' 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, which was based on the Mercedes SLK platform and utilized Mercedes's 3.2L V6, and the Dodge Sprinter/Freightliner Sprinter, a re-badged Mercedes-Benz Sprinter van.
In 2000, DaimlerChrysler acquired the Detroit Diesel Corporation 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.
Daimler agreed to sell the Chrysler unit to Cerberus Capital Management in May 2007 for US$6 billion. 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.
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 on 3 August 2007, DaimlerChrysler completed the sale of Chrysler Group to Cerberus Capital Management. 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[note 1] and retained the remaining 19.9% stake in the separated Chrysler.
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, Cerberus Capital Management 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.
On 3 August 2015, Nokia announced that it had reached a deal to sell its Here digital maps division to a consortium of three German automakers—BMW, Daimler AG, and Volkswagen Group, for €2.8 billion. This was seen as an indication that the automakers were interested in automated cars.
In 2017, Daimler has 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, Blacklane and FlixBus, and has acquired car2go and mytaxi.
Dieter Zetsche became the Chairman of Daimler and Head of Mercedes-Benz Cars after 1 January 2006 as well as member of the Board of Management since 1998. He was former President and CEO of the Chrysler, LLC (previously owned by Daimler AG); he may be best known in the United States as "Dr. Z" from a Chrysler advertising campaign called "Ask Dr. Z".
Current (as of 24 May 2018) members of the Board of Management of Daimler AG are:
The board of management had had eight members before the unexpected resignation on 28 January 2014 of Andreas Renschler, former head of Manufacturing and Procurement Mercedes-Benz Cars & Mercedes-Benz Vans. It returned to full strength on 1 January 2015 with the appointment of Swedish-born Ola Källenius as head of Mercedes-Benz Cars Marketing and Sales.
As of May 2015, the twenty members of Daimler AG's supervisory board are: Manfred Bischoff (Chairman), Michael Brecht (Deputy Chairman), Paul Achleitner, Sari Baldauf, Michael Bettag, Bernd Bohr, Clemens Börsig, Jürgen Hambrecht, Petraea Heynike, Andrea Jung, Joe Kaeser, Ergun Lümali, Sabine Maaßen, Wolfgang Nieke, Bernd Pischetsrieder, Valter Sanches, Jörg Spies, Elke Tönjes-Werner, Frank Weber, Roman Zitzelsberger.
by region 29.2% Europe (excluding Germany), 36.4% German, 24.3% United States, 6.8% Kuwait, 2.9% Asia, 0.4% Others.
On the side of the public sector, the KfW banking group holds 13%, HGV Hamburger Gesellschaft für Vermögens- und Beteiligungsverwaltung (State of Hamburg) holds 10%, Hannoversche Beteiligungsgesellschaft (State of Lower Saxony) holds 5%, Bayerische Landesbodenkreditanstalt, Anstalt der Bayerischen Landesbank holds 3.5%, LfA Förderbank Bayern holds 1.5%, Landesbank Baden-Württemberg and Landeskreditbank Baden-Württemberg – Förderbank (L-Bank) each holds 2.5%, and Bremer Investitions-Gesellschaft (State of Bremen) holds 2%.
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.
China's automobile manufacturer, Geely Group Co., Ltd, took a 9.69% stake in the company, through a subsidiary, in February 2018, making it the company's largest single shareholder. In September 2018, Daimler invested $155 million in Electric Bus Maker Proterra.
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.
Daimler sells automobiles under the following brands worldwide:
The Daimler AG has a worldwide networks of production plants and research centers. The following list is a description of all locations worldwide that include a Daimler plant, including plants for Daimler subsidiaries EvoBus, Daimler Trucks North America, Detroit Diesel, Freightliner Trucks and Mitsubishi Fuso Truck and Bus Corporation. The list excludes Daimler Financial Services locations.
|Affalterbach||Germany||AMG engines||1,210||78,231 m2 (842,070 sq ft)|
|Aikawa||Japan||Production of transmission parts||267||N/A|
|Aksaray||Turkey||Atego, Axor, Actros & Unimog
Research and development
|1,737||560,000 m2 (6,000,000 sq ft)|
|Beijing||China||C-Class, E-Class (long versions for Chinese market) & GLK & GLA,
Auman trucks (assembly)
Four-cylinder engines (production & assembly), six-cylinder engines (assembly)
|8,878||229,862 m2 (2,474,210 sq ft)|
|Bengaluru||India||Mercedes-Benz Research and Development||2900||N/A|
|Berlin||Germany||Various engines, components, transmission parts and fuel systems||2,538||501,502 m2 (5,398,120 sq ft)|
|Bremen||Germany||C-Class (sedan, estate & coupé), E-Class (coupé and convertible), SLK, SL, GLK||12,714||1,514,516 m2 (16,302,110 sq ft)|
|Buenos Aires||Argentina||Sprinter (body and assembly)
Assembly of chassis
|Charleston, South Carolina||USA||Sprinter (assembly)||104||N/A|
|Chennai||India||Trucks (LDT, MDT, HDT) under BharatBenz, Mercedes Benz and Fuso brands
Buses under BharatBenz
|2,540||1,600,000 m2 (17,000,000 sq ft)|
|Cleveland, North Carolina||USA||Freightliner class 8 truck models (Cascadia, Century Class S/T, Columbia, and Argosy (cab over models)).||1,837||N/A|
|Detroit, Michigan||USA||Engines, transmissions, axle assembly||2,164||N/A|
|Dortmund||Germany||Transit-, interurban-, and mobility buses and coaches||268||N/A|
|Düsseldorf||Germany||Sprinter (body and assembly)||6,571||688,000 m2 (7,410,000 sq ft)|
|East London||South Africa||C-Class (sedan)||2,743||603,600 m2 (6,497,000 sq ft)|
|Ebina||Japan||Fuso trucks, various bodies
|430||83,000 m2 (890,000 sq ft)|
|Fuzhou||China||Vito, Viano, Sprinter
(body and assembly)
|1,544||130,000 m2 (1,400,000 sq ft)|
|Gaffney, South Carolina||USA||Chassis for vans, school buses, shuttle buses and motor homes||542||N/A|
|Gaggenau||Germany||Manual and automatic transmissions, axles, torque converters & pressed parts||6,280||460,000 m2 (5,000,000 sq ft)|
|García||Mexico||Bus chassis assembly||4000||42,709 m2 (459,720 sq ft)|
|Gastonia, North Carolina||USA||Parts production||1,262||N/A|
|Hambach||France||Smart Fortwo and smart electric drive||822||695,000 m2 (7,480,000 sq ft)|
|Hamburg||Germany||Axles and axle components, steering columns, components for exhaust emission technology and lightweight structural parts||2,752||331,000 m2 (3,560,000 sq ft)|
|High Point, North Carolina||USA||School buses (assembly)
Research and development
|Holýšov||Czech Republic||Bus body components and -segments||360||N/A|
|Istanbul-Hoşdere||Turkey||Body shop, cathodic dip painting, paint shop
Transit- and interurban buses and coaches (assembly)
|Juiz de Fora||Brazil||Accelo & Actros
|Kassel||Germany||Axles, drive shafts & other components||2,820||435,873 m2 (4,691,700 sq ft)|
|Kawasaki||Japan||Fuso head office functions
(Research and development, production of engines, axles & transmissions;LDT, MDT, HDT)
|Kecskemét||Hungary||B-Class & CLA-Class||3,358||1,420,000 m2 (15,300,000 sq ft)|
|Kirchheim unter Teck||Germany||EvoBus corporate headquarters
|Kölleda||Germany||Three- and four-cylinder engines
Production of the M178 engine used in the AMG GT
|914||417,434 m2 (4,493,220 sq ft)|
|Ligny-en-Barrois||France||Transit buses & coaches
|Logan Township, New Jersey||USA||Fuso||N/A||N/A|
|Ludwigsfelde||Germany||Sprinter (body and assembly)||1,993||540,000 m2 (5,800,000 sq ft)|
|Mannheim||Germany||Transit-, intercity buses and coaches (Body shop, cathodic dip painting, assembly)||3,301||N/A|
|Mannheim||Germany||Foundry, engines (production & remanufacturing) and green technology engines)||5,113||898,654 m2 (9,673,030 sq ft)|
|Molsheim||France||Customization of special purpose trucks||527||N/A|
|Mount Holly, North Carolina||USA||Freightliner Business Class M2 assembly||1,460||N/A|
|Neu-Ulm||Germany||Transit- and interurban buses & coaches
(Paint shop and assembly)
|Portland, Oregon||USA||Daimler Trucks North America headquarters
Research and development
|Pune||India||C-Class, E-Class, GL-Class, M-Class, S-Class, Research and Development||717||N/A|
|Rastatt||Germany||A-Class, B-Class & GLA-Class||6,557||1,474,332 m2 (15,869,580 sq ft)|
|Sakura||Japan||Fuso proving ground & test track||384||N/A|
|Santiago Tianguistenco||Mexico||Freightliner assembly (Business Class M2, FLD Series, Century Class, Columbia & Coronado)||1,610||N/A|
|São Bernardo do Campo||Brazil||Entire Latin American truck product range
Engines, axles, transmissions, bus chassis
Research and development
|Sindelfingen||Germany||E-Class (sedan and estate), S-Class, CL-Class, CLS-Class, AMG GT
Research and development
|26,134[b]||2,955,944 m2 (31,817,520 sq ft)|
Engines, axles, transmissions & other components
Pre-commissioning foundry and forge
Research and development
|17,973||2,060,045 m2 (22,174,140 sq ft)|
|Toluca||Mexico||Refurbishing of engines, transmissions and other components||N/A||N/A|
|Toyama||Japan||Small, medium and large buses
|Tramagal||Portugal||Fuso Canter||307||39,900 m2 (429,000 sq ft)|
|Tuscaloosa, Alabama||USA||C-Class, M-Class, R-Class, GL-Class||3,127||3,803,240 m2 (40,937,700 sq ft)|
(body and assembly)
|3,293||600,000 m2 (6,500,000 sq ft)|
|Wanaherang, Gunung Putri, Bogor||Indonesia||Buses, Mercedes-Benz Axor, Mercedes-Benz C Class, Mercedes-Benz E Class, Mercedes-Benz GLC Class, Mercedes-Benz GLE Class, Mercedes-Benz GLS Class, Mercedes-Benz S Class (Assembly and exhaust parts production)||N/A||N/A|
|Wörth am Rhein||Germany||Actros, Antos, Arocs, Axor, Atego, Econic, Unimog, Zetros||11,741||N/A|
In 2015, Daimler held interests in the following companies:
Until the end of 2011, the company had also held shares in McLaren Group.
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.
On 7 April 2010, Renault-Nissan executives, Carlos Ghosn and Dr. 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.
Following trials in 2007 and then with 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 Denza.
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.
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.
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 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.
On 16 November 2009, Daimler (45.1%) and Aabar Investments (30%) purchased a 75.1% stake in Brawn GP. The company was rebranded as Mercedes GP with its base in Brackley, UK, with 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 2015, after which McLaren switched to engines from Honda.
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 F1 Team) wholly Daimler-owned.
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, 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.
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 then notorious 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 with Iraq by giving 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 affiliates] saw foreign bribery as a way of doing business," said Mythili Raman, a principal deputy in the Justice Department's criminal division.
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".
The primary case is USA v. Daimler AG, United States District Court for the District of Columbia, No. 1:10-cr-00063-RJL .
Automotive Fuel Cell Cooperation (AFCC) is 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 further expansion of fuel cell technology. After the split, Ballard continued as a publicly traded company focusing on non-automotive applications (including buses), while AFCC became a privately held company of 150 employees, developing hydrogen fuel cell stacks for automobiles. AFCC's initial ownership split was Daimler (50.1%), Ford Motor Company (30.0%), and Ballard itself (19.9%).Ford Motor Company purchased the portion of AFCC owned by Ballard Power Systems in 2009 for $44.5M in gross proceeds, leaving it with 49.9% ownership, and Daimler AG as the major stakeholder with 50.1%.An AFCC stack was used in the Mercedes-Benz F-Cell vehicle in 2010.In 2013, AFCC's owners signed a three-way agreement with Nissan Motor Company to develop next-generation fuel cell technology that they hope will lead to the world's first affordable, mass-market fuel cell electric vehicles as early as 2017. The collaboration is to be jointly led by all three automakers with engineering work taking place at various locations around the world. AFCC will be responsible for the research and product development of automotive fuel cell stacks for the collaboration.
The company's first CEO was Dr. Andreas Truckenbrodt formerly the executive director for hybrid development for Daimler AG. He led AFCC for more than 6 years from company inception through February 2014.
AFCC ended operations in June 2018.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 Daimler AG.Originally established in 1984 as Beijing Jeep Corporation (Chinese: 北京吉普汽车有限公司) by BAIC Motor with American Motors Corporation (AMC), it was the first Chinese auto-making joint venture with a Western partner. It continued after AMC was acquired by Chrysler in 1987 and after Chrysler merged with German automaker Daimler-Benz AG in 1998.
Jeep later returned to Chinese market in March 2010 under GAC Fiat where the company produces the Jeep Cherokee (K4) since 2015, the Jeep Compass (M4) and Jeep Renegade (BQ) since 2016 and the Jeep Commander (K8)/Jeep Grand Commander (K8) since 2018.
Mercedes was firstly involved in a short lived joint venture from 1987 until 1988 with FAW (First Automobile Works) where 828 vehicles were produced consisting of the Mercedes-Benz (W123) 200 and 230E Lang, most of which were made from CKD kits. It was later established in 2005 where Mercedes Benz was reintroduced to the Chinese market as Beijing Benz and assembled its first car, a Mercedes-Benz E-Class in December 2005.
As of 2016, Beijing Benz assembles and manufactures the Mercedes-Benz E-Class (long wheelbase), and C-Class in China.As well as Beijing, there is also a subsidiary in Fuzhou, Fujian under the name Fujian Benz established in 2007 where they have produced the Viano and Vito since April 2011 and the Sprinter in November 2011. The V-Class was launched in March 2016.BharatBenz
BharatBenz is a brand of Daimler India Commercial Vehicles (DICV), itself a wholly owned subsidiary of the German manufacturer Daimler AG. The brand is known for its range of modern trucks and buses. The headquarters of BharatBenz is at Oragadam, Chennai, India.
The “Bharat” part of the brand name means “India” in various Indian languages.DaimlerChrysler Commercial Buses North Carolina
DaimlerChrysler Commercial Buses North Carolina is an American bus manufacturer. It is subsidiary of Daimler AG,Daimler Financial Services
Daimler Financial Services is the global financial services provider of Daimler AG. The company finances, leases and insures Daimler Group passenger cars and commercial vehicles, optimizes fleets of commercial customers and offers banking and credit/debit cards services in more than 40 countries.
Additonally, a key part of today's business is its mobility services with more than 31 million customers registered for the company's mobility services.
Daimler Financial Services is based in Stuttgart, with more than 14,000 employees (2018). The total value of all financing and leasing contracts managed by the company exceeds €154 billion as of 2018.Denza
Shenzhen BYD Daimler New Technology 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 Daimler AG. Founded in May 2010, as of late 2014 the company produces a single model with an all-electric range of up to 300 km (190 mi). The car was initially put on sale in select Chinese cities only.Detroit Diesel
Detroit Diesel Corporation (DDC) is an American diesel engine manufacturer headquartered in Detroit, Michigan, United States and a subsidiary of Daimler Trucks North America, itself a wholly owned subsidiary of the German Daimler AG. The company manufactures heavy-duty engines and chassis components for the on-highway and vocational commercial truck markets. Detroit Diesel has built more than 5 million engines since 1938, more than 1 million of which are still in operation worldwide. Detroit Diesel's product line includes engines, axles, transmissions, and Virtual Technician.
Detroit engines, transmissions, and axles are used in several models of truck manufactured by Daimler Trucks North America.Dieter Zetsche
Dieter Zetsche (German pronunciation: [̩diːtɐ ˈtsɛtʃə]; born on 5 May 1953 in Istanbul, Turkey) is a German engineer. He is the Chairman of the Board of Management of Daimler AG and head of Mercedes-Benz, a role he has held since 2006 in addition to being a member of the company's board since 1998.EvoBus
EvoBus GmbH is a German bus manufacturer headquartered in Neu-Ulm, Germany and a wholly owned subsidiary of Daimler AG. Its products go to market under the brands Setra or Mercedes-Benz.Fujian Benz
Fujian Benz Automotive Co., Ltd., formerly Fujian Daimler Automotive Co., Ltd., is a light commercial vehicle manufacturing company based in Fúzhōu, and a joint venture between the German Daimler AG, the Chinese state-owned Fujian Motors Group and the Taiwanese China Motor Corporation.Fuso (company)
The Mitsubishi Fuso Truck and Bus Corporation (Japanese: 三菱ふそうトラック・バス株式会社, Hepburn: Mitsubishi Fusō Torakku・Basu Kabushiki gaisha) is a manufacturer of trucks and buses. It is headquartered in Kawasaki, Kanagawa, Japan. Currently, it is 89.29 %-owned by Germany-based Daimler AG, under the Daimler Trucks division.Fuso derives from the ancient Chinese term Fusang, for a sacred tree said to grow at the spot in the East where the sun rises, and has been used to refer to Japan itself. The actual Fuso tree is a hibiscus.MTU Friedrichshafen
MTU Friedrichshafen GmbH is a 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 predecessor company of the German multinational automotive corporation Daimler AG, until he left in 1907. On 23 March 1909, he founded the new company, Luftfahrzeug-Motorenbau GmbH (Aircraft Engine Manufacturing Corp), with his son Karl Maybach as director. A few years later the company was renamed to Maybach-Motorenbau GmbH (Maybach Engine Manufacturing Corp), which originally developed and manufactured diesel and petrol engines for Zeppelins, and then railcars. The Maybach Mb.IVa was used in aircraft and airships of World War I.
The company first built an experimental car in 1919, with the first production model introduced two years later at the Berlin Motor Show. Between 1921 and 1940, the company produced various classic opulent vehicles. The company also continued to build heavy duty diesel engines for marine and rail purposes. During the Second World War, Maybach produced the engines for Germany's medium and heavy tanks. The company was renamed MTU Friedrichshafen in the 1960s and continued to supply the engines for the Leopard 2 main battle tank.
MTU derives from Motoren- und Turbinen-Union meaning "Motor (Engine) and Turbine Union".
MTU Friedrichshafen remained a subsidiary of DaimlerChrysler until 2006 when it was sold off to the EQT IV private equity fund, becoming a part of the Tognum Corporation.
Rolls-Royce Holdings and Daimler AG acquired Tognum in 2011. In 2014, Tognum was renamed Rolls-Royce Power Systems, having become a 100 per cent subsidiary of Rolls-Royce Holdings.
The company manufactures diesel engines for trains, ships, oil and gas installations, military vehicles, agriculture, mining and construction equipment, as well as diesel generators and molten carbonate fuel cells.Maybach
Maybach Motorenbau (German: [ˈmaɪbax]) is a defunct German car manufacturer that today exists as a sub-brand of Mercedes-Benz. The company was founded in 1909 by Wilhelm Maybach and his son, originally as a subsidiary of Luftschiffbau Zeppelin GmbH, and it was known as Luftfahrzeug-Motorenbau GmbH until 1999.
In 1960, Maybach was acquired by Daimler-Benz. The name returned as a standalone ultra-luxury car brand in the late 20th century and early 21st century, sharing significant components with Mercedes-Benz cars. After slow sales, Maybach ceased to be a standalone brand by 2013, and it became (in 2015) a sub-brand of Mercedes-Benz, which is owned by Daimler AG. As of 2018, Daimler produces an ultra-luxury edition of the Mercedes-Benz S-Class under the Mercedes-Maybach name.Mercedes-Benz Bank
Mercedes-Benz Bank AG is a universal bank with seat in Stuttgart. Daimler-Benz 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 and obtained a banking license in 2002. The name was changed to Mercedes-Benz Bank in 2008.Mercedes-Benz USA
Mercedes-Benz USA, LLC (MBUSA) is the distributor for passenger cars of Daimler AG in the United States located in Sandy Springs, Georgia, USA (Atlanta, Georgia). It is a subsidiary of Daimler AG and today sells cars from the Mercedes-Benz and Smart brands, as well as the Mercedes-Benz Transporter.
Mercedes-Benz USA was founded in 1965 to integrate sales in the most important foreign market into the Group. Previously, the distribution was taken over by partners. Today, Mercedes-Benz USA is the second-largest car sales organization of Daimler AG in terms of sales. MBUSA acts as a dealer (for example, in Manhattan), but most dealerships are dealers.
MBUSA employs about 1400 people and has been awarded several times by Fortune as a top employer. In July 2015, MBUSA's headquarters were relocated from Montvale, New Jersey to Sandy Springs, Georgia. The move will move about 1000 employees to the region and create new jobs to the northern suburb of Atlanta.Mercedes-Benz USA has been the name sponsor of Louisiana Superdome since 2011. In 2015, the company also acquired the naming rights to the Mercedes-Benz Stadium, home to the NFL franchise Atlanta Falcons, and MLS franchise Atlanta United FC.Mercedes AMG High Performance Powertrains
Mercedes AMG High Performance Powertrains (previously known as Ilmor Engineering and Mercedes-Benz High Performance Engines) is a British Formula One engine manufacturer, owned by Mercedes-Benz. The company has supplied Sauber during the 1994 season, McLaren from 1995 to 2014, Force India from 2009 to 2018, Brawn in 2009, the Mercedes factory team since 2010, Williams since 2014, Lotus in 2015, Manor Racing in 2016 and Racing Point since 2018. Their engines have won seven Formula One Constructors' Championships and nine Drivers' Championships.Orion Bus Industries
Orion Bus Industries, formerly Ontario Bus Industries in Canada and Bus Industries of America in the United States, was a privately owned bus manufacturer based in Mississauga, Ontario, Canada. Until 1995, the word Orion was only a model or brand name, not part of the company's name. It was renamed DaimlerChrysler Commercial Buses North America in 2006, but continued to market its products under the Orion name.The company had its main manufacturing plant in Mississauga and sent bus body shells to their plant in Oriskany, New York, for final assembly and testing of vehicles destined for U.S. markets.Sterling Trucks
Sterling Trucks Corporation (commonly designated Sterling) is a former American truck manufacturer of Class 5-8 trucks. Taking on its name from a defunct American truck manufacturer, Sterling was formed in 1997 as Freightliner acquired the rights to the heavy-truck product lines of Ford Motor Company. Sterling-brand trucks were sold in the United States, Canada, Mexico, Australia, and New Zealand.
Headquartered in Redford Township, Michigan (Detroit), Sterling assembled its conventional-cab vehicles in St. Thomas, Ontario. During 2009, Freightliner phased out its Sterling subsidiary.Western Star Trucks
Western Star Trucks Sales, Inc., commonly designated Western Star, is an American truck manufacturer headquartered in Portland, Oregon, United States and a subsidiary of Daimler Trucks North America, in turn a wholly owned subsidiary of the German Daimler AG.
and joint ventures
A division of Daimler AG
A subsidiary of Daimler AG
Daimler-Benz aircraft engines
A marque of Daimler
|Historic and discontinued|
A Division of Daimler AG
North American bus builders
with US operations
|Concept and pre-production|
|Auto component makers and |
performance car modders
|Defunct and former (2)|
|Thai vehicle and|