There are reports that German carmaker Daimler(Daimler) 's chief financial officer said on the 27th that the Daimler truck (Daimler Truck) is expected to be spun off by the end of the year. Daimler trucks is the world's largest truck and bus manufacturer.
"We are making detailed preparations for this complex project as planned and hope to list Daimler trucks as an independent company by the end of this year," Harald Wilhelm, Daimler's chief financial officer, told Automotive Industry Weekly (Automobilwoche). "We believe in the industry logic and benefits of Daimler's restructuring plan and divestiture of Daimler trucks."
Under the split plan, a majority stake in Daimler trucks will be distributed to Daimler shareholders.
Frank Biller, an analyst at LBBW, told the magazine that Daimler trucks could join the German DAX blue-chip index in March next year.
Challenge Tesla in Mercedes-Benz brandThe plan, announced in February by companies such as Porsche and BMW, is aimed at making Daimler more attractive as an investor focused on electric luxury cars.
In the truck market, Daimler faces Sweden's Volvo Group (AB Volvo) and VolkswagenTraditional competitors such as (Volkswagen AG) 's Traton and Paccar Inc..
Daimler could not immediately be reached for comment.