Big automakers are breaking themselves apart to compete with Silicon Valley
Daimler AG, the parent company of Mercedes-Benz, is splitting itself up into three companies in order to make itself “fit for the future,” the automaker announced today. Mercedes-Benz, Daimler’s truck division, and Daimler’s mobility division will all become independent entities as a result of the effort (which Daimler AG is calling, in all caps, “PROJECT FUTURE”).
Under the reorganization, Mercedes-Benz vans and cars will be rolled into Mercedes-Benz AG. Daimler’s commercial bus and truck operations will exist together as Daimler Truck AG. And Daimler’s mobility operation will merge with its financial services division to form Daimler Mobility AG. All three operations will still sit under Daimler AG.