German automaker Daimler AG officially renamed on Tuesday, February 1 to Mercedes-Benz Group AG. Internally, the renaming was completed on Saturday, exactly 136 years after automotive pioneer Carl Benz patented the world’s first combustion engine car on January 29, 1886, the firm said in a statement.
The goal is to become a luxury brand
With the rebranding decision, Ola Källenius, Chairman of the Board of the Corporation, completes the extensive corporate restructuring that began at the end of 2021 with separation of the Daimler Truck cargo division. Since then, there have been two separate companies, each listed on the stock exchange. Currently, Mercedes-Benz is focusing on the production of passenger cars and minivans.
As Kellenius said last week, in order to increase the attractiveness of the automaker, the traditional emblem with a three-pointed star will be used as the company’s logo. “We see that over the past 12-18 months, attention to Mercedes has increased,” summed up the head of the board. His stated goal is to make Mercedes-Benz a luxury brand. According to additional information, on Tuesday the changed name should be entered in the trade register.
Toward electric vehicles
According to Kellenius, in the future Mercedes-Benz business will be focused on electric vehicles. If “market conditions allow,” the Stuttgart concern intends to fully switch to their production by the end of this decade.
According to experts, Mercedes-Benz is one of the most expensive auto brands in the world. Last year, for example, the American consulting firm Interbrand valued it at $51 billion (about 45.7 billion euros). In this segment, it is surpassed only by the Japanese competitor Toyota. And the American giants Apple and Amazon lead the ranking of the most expensive brands in the world.