|Founded||1926 (original foundation of Daimler-Benz)|
2007 (foundation of Daimler AG)
|Products||Automobiles, commercial vehicles|
|Revenue||€154.309 billion (2020)|
|€6.603 billion (2020)|
|€4.009 billion (2020)|
|Total assets||€285.737 billion (2020)|
|Total equity||€62.248 billion (2020)|
Number of employees
|288,481 (December 31 2020)|
|Footnotes / references|
Daimler AG (German pronunciation: [ˈdaɪmlɐ ʔaːˌɡeː] (listen); previously named Daimler-Benz and DaimlerChrysler; commonly known and referred to as Mercedes-Benz or simply Daimler) is a German multinational automotive corporation headquartered in Stuttgart, Baden-Württemberg, Germany. It is one of the world's leading car and truck manufacturers. 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 AG upon divestment of Chrysler to Cerberus Capital Management in 2007 (Chrysler is currently owned by Stellantis). In 2021, Daimler AG is the second-largest German automaker and the sixth-largest worldwide by production.
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 BAIC Motor. 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 Mercedes-Benz GLS-Class. In 2019, 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. In the Daimler AG complex in Stuttgart are situated the central company headquarters, Mercedes-Benz and Daimler car plants, the Mercedes-Benz Museum and the Mercedes-Benz Arena.
This article needs additional citations for verification. (April 2019)
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[dubious ] – following his death in 1900 – for use by other companies (Daimler Motor Company, Daimler Manufacturing Company, Panhard-Daimler, and Austro-Daimler/Steyr-Daimler-Puch). 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 engines for German aircraft, tanks, and submarines. Its cars became the first choice of many Nazi, Fascist Italian, and Japanese officials including Hermann Göring, Adolf Hitler, Benito Mussolini and Hirohito, who most notably used the Mercedes-Benz 770 luxury car. Daimler also produced parts for German arms, most notably barrels for Mauser Kar98k rifles. During World War II, 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 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 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 3.2 L 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 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, 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.
DC Aviation rose in 2007 from the previous DaimlerChrysler Aviation, an auxiliary of DaimlerChrysler AG, which was established in 1998.
2007–present: Daimler AG
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 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 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 (now Free Now).
Chinese automobile manufacturer Geely took a 9.69% stake in the company, through a subsidiary, in February 2018, making it the company's largest single shareholder. Geely is already known from its ownership of Volvo Car Corporation. In September 2018, Daimler invested $155 million in US-based electric bus and its battery management technology manufacturer Proterra.
In February 2021, Daimler said it plans to rename itself adopting the name of its flagship marque, Mercedes-Benz, and spin off its heavy commercial vehicles unit, Daimler Truck, into a separate listed company.
- Ola Källenius: Chairman of the Board as well as Head of Mercedes-Benz Cars.
- Renata Jungo Brüngger: Integrity and Legal Affairs.
- Britta Seeger: Head of Mercedes-Benz Cars Marketing and Sales.
- Wilfried Porth: Head of Human Resources, Labor Relations and Mercedes-Benz Vans
- Hubertus Troska: Greater China
- Harald Wilhelm: Head of Finance and Controlling as well as Head of Daimler Mobility
- Martin Daum: Head of Daimler Trucks and Buses
- Markus Schäfer (businessman): Head of Group Research and Mercedes-Benz Cars Development, Procurement and Supplier Quality
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.
- Bank of America Corporation: 20.25%
- BlackRock, Inc.: 5.09%
- Harris Associates L.P.: 4.93%
- Li Shufu with Tenaciou3 Prospect Investment Limited: 9.69%
- Morgan Stanley: 5.7%
- People's Republic of China: 5%
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.
Daimler sells automobiles under the following brands worldwide:
- Mercedes-Benz Cars
- Daimler Trucks
- Daimler Buses
- Mercedes-Benz Vans
- Mercedes-Benz (vans group)
- Daimler Mobility
- Mercedes-Benz Bank
- Mercedes-Benz Financial
- Daimler Truck Financial
- Mercedes AMG High Performance Powertrains (builds engines for Formula One racing)
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|
- As of December 2013
- Excluding employees in research and development
In 2015, Daimler held interests in the following companies:
- 89.29% Mitsubishi Fuso Truck and Bus Corporation of Japan
- 50.1% Automotive Fuel Cell Cooperation of Canada
- 50% Engine Holding, a joint venture with Rolls Royce Limited
- 50% Denza (Shenzhen BYD Daimler New Technology Co., Ltd)
- 25% MV Agusta of Italy
- 12% Beijing Automotive Group (BAIC)
- 15% KAMAZ of Russia
- 20% Aston Martin Lagonda
Until the end of 2011, the company had also held shares in McLaren Group.
Joint ventures and alliances
FAW and later Beijing Automotive Group
Beijing Jeep was a joint venture between Chrysler and BAIC Motor. 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.
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.
Between 1990 and 2010 SsangYong partnered with Daimler-Benz. The deal was for SsangYong to develop an SUV with Mercedes-Benz 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 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 Istana and using Daimler designs in many other models, including the second-generation Korando (engine and transmission), the Rexton (transmission), the Chairman H (chassis and transmission) and the 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 Chairman W in china as the Roewe R95/850 and the 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 W121 chassis. 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.
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.
In September 2019, Daimler redirected its internal combustion engine 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.
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 and Aabar Investments purchased a 75.1% stake in Brawn GP (Daimler holding 45.1%). The company was rebranded as 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 AMG Petronas F1 Team) wholly Daimler-owned.
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 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, 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 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 its 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.[dead link] 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.
- "Daimler Annual Report 2020" (PDF). Daimler AG. Retrieved 18 February 2021.
- "Shareholder Structure". Daimler AG. Archived from the original on 16 November 2018. Retrieved 16 November 2018.
- "Daimler Annual Report 2019" (PDF). Daimler AG. Archived (PDF) from the original on 27 February 2020. Retrieved 27 February 2020.
- "Frankfurt Stock Exchange". Archived from the original on 19 November 2015.
- "DaimlerChrysler AG - The History of Daimler-Benz AG". Archived from the original on 22 October 2010. Retrieved 27 January 2011.
- "Merger is 'a marriage made in heaven'". BBC News. 7 May 1998. Archived from the original on 3 March 2016. Retrieved 31 July 2015.
- "COMPANY NEWS; DAIMLER-BENZ AND CHRYSLER REVISE RATIO FOR STOCK SWAP". The New York Times. 9 June 1998. Archived from the original on 12 May 2013. Retrieved 7 October 2011.
- "DaimlerChrysler dawns". CNN Money. 7 May 1998. Archived from the original on 28 March 2013. Retrieved 12 April 2013.
- "Daimler-Benz and Chrysler merge". 7 May 1998. Archived from the original on 25 December 2010. Retrieved 27 January 2011.
- "DaimlerChrysler AG – The History of Daimler-Benz AG". Archived from the original on 22 October 2010. Retrieved 27 January 2011.
- "DaimlerChrysler settles investor lawsuit". CarAndDriver.com. 25 August 2003. Archived from the original on 26 September 2007. Retrieved 23 July 2007.
- "Taken for a Ride". Bloomberg BusinessWeek. 5 June 2000. Archived from the original on 21 October 2007. Retrieved 6 November 2007.
- Wiggers Martin H.: Sternstunden, Strategische Unternehmensfuehrung Nr. 2, 2000. Munich, St. Gallen 2000, ISSN 1436-5812
- "Chrysler Group to Be Sold for $7.4 Billion". The New York Times. 14 May 2007. ISSN 0362-4331. Archived from the original on 10 November 2017. Retrieved 9 November 2017.
- Healey, James (13 October 2008). "GM and Chrysler consider merger". USA Today. Archived from the original on 22 October 2013. Retrieved 11 April 2013.
- "Home – Cerberus Takes Over Majority Interest in Chrysler Group and Related Financial Services Business for EUR 5.5 Billion ($7.4 billion) from DaimlerChrysler". Daimler. Archived from the original on 11 December 2009. Retrieved 27 September 2010.
- Roubini, Nouriel (7 May 2009). "The Impact of Chrysler's Bankruptcy". Forbes. Archived from the original on 26 December 2013. Retrieved 6 March 2014.
- "DC Aviation - The Company". www.dc-aviation.com. Archived from the original on 26 May 2020. Retrieved 26 June 2020.
- Daimler buys into Agusta as motorbike and car tech converge Archived 13 October 2015 at the Wayback Machine. Reuters, 31 October 2014
- "MV holding: acquisitions and investments". mvagusta.com. 17 December 2017. Archived from the original on 17 September 2018. Retrieved 13 June 2018.
- "Nokia sells Here maps business to carmakers Audi, BMW and Daimler". CNET. CBS Interactive. Archived from the original on 5 August 2015. Retrieved 3 August 2015.
- Lunden, Ingrid. "Daimler acquires German P2P carpooling startup Flinc". Techcrunch.com. Archived from the original on 29 September 2017. Retrieved 21 October 2017.
- "Daimler and Via to launch ride-sharing shuttle service in Europe". Engadget.com. Archived from the original on 29 September 2017. Retrieved 21 October 2017.
- Griswold, Alison. "Car-sharing startup Turo raised another $92 million to help people pay for their dream cars". Qz.com. Retrieved 21 October 2017.
- "Geely Founder Li Shufu is a New Shareholder of Daimler AG". Cision PR Newswire. 24 February 2018. Archived from the original on 2 March 2018. Retrieved 2 March 2018.
- Ohnsman, Alan. "Next Stop Unicorn? Daimler Leads $155 Million Round For Silicon Valley Electric Bus Maker Proterra". Forbes. Archived from the original on 20 September 2018. Retrieved 20 September 2018.
- Daimler abandons internal combustion engine development to focus on EVs Archived 3 October 2020 at the Wayback Machine, accessed 20 September 2019.
- "Pulse GX50 Contributes to Daimler's CO2 Made C Pillar Made from Carbon Dioxide". Trinseo now.connect. Archived from the original on 7 June 2020. Retrieved 7 June 2020.
- Carey, Nick (3 February 2021). "Daimler to spin off truck unit, sharpen investor focus on Mercedes-Benz". Reuters. Retrieved 4 February 2021.
- "Automaker Daimler to spin off trucks business, change name". Yahoo Finance Canada. 3 February 2021. Archived from the original on 7 February 2021. Retrieved 4 February 2021.
- Daimler. "Ola Källenius - Biography". Daimler. Retrieved 2 May 2021.
- "The Board of Management of Daimler AG". Archived from the original on 12 August 2018. Retrieved 24 May 2018.
- "Gesetz über den Wertpapierhandel § 38". Department of Justice Germany. Archived from the original on 10 April 2018. Retrieved 7 September 2019.
- "Gesetz über den Wertpapierhandel § 39". Department of Justice Germany. Archived from the original on 10 April 2018. Retrieved 7 September 2019.
- "Issuer: Daimler AG". Federal Financial Supervisory Authority of Germany. Archived from the original on 3 October 2020. Retrieved 19 November 2019.
- Communications, Daimler Corporate. "Daimler AG and Investor Consortium Continue Agreement on EADS". Prnewswire.com. Retrieved 2 June 2017.
- "Establishment of Daimler Trucks and Buses China Ltd" (PDF). Ar2013.daimler.com. Archived from the original (PDF) on 4 March 2016. Retrieved 21 October 2017.
- "Daimler Financial Data". boerse.de.
- "Mercedes announces $500 million expansion of N. Charleston plant, new jobs". Live5News.com. Archived from the original on 20 June 2017. Retrieved 2 June 2017.
- Schultz, Jonathan (16 August 2012). "At Last, the Maybach Is Priceless". The New York Times. Archived from the original on 23 January 2013. Retrieved 1 February 2013.
- "Daimler Business Units". Daimler AG. Archived from the original on 12 November 2014. Retrieved 12 November 2014.
- "Welcome to Mercedes Benz Research & Development India". mbrdi.co.in. Archived from the original on 11 September 2016. Retrieved 8 September 2016.
- "Mercedes Benz - Corporativo". AutobusesMercedesBenz.com.mx. Archived from the original on 24 June 2017. Retrieved 2 June 2017.
- "Daimler buys into Agusta as motorbike and car tech converge". Reuters. 31 October 2014. Archived from the original on 13 October 2015. Retrieved 17 June 2015.
- "Daimler no longer a shareholder in McLaren – Motorsport Week". 4 January 2012. Retrieved 2 May 2021.
- Sutcliffe, Ashley (1 June 2011). "The Cherokees that sparked revolution". chinadaily.com.cn. China Daily. Retrieved 9 December 2014.
- "比奥迪国产早1年 奔驰E级9代车型历史解析" [A year before the Audi: A history of nine generations of the Mercedes E-class] (in Chinese). www.cnfol.com. 7 July 2011. Archived from the original on 3 March 2016. Retrieved 11 December 2014.
- Qiao, Yu (7 December 2004). "JV renamed Beijing Benz-DaimlerChrysler". China Daily. Retrieved 9 March 2011.
- "Daimler Northeast Asia". Mercedes-Benz China. Archived from the original on 29 December 2010.
- Bryant, Chris (1 February 2013). "Daimler takes stake in Chinese carmaker". Financial Times. Archived from the original on 13 April 2020. Retrieved 11 April 2013.
- "Foton and Daimler in Truck Joint Venture". ChinaAutoWeb.com. Archived from the original on 22 July 2011. Retrieved 26 July 2010.
- "Musso-Mercedes match was a rocky road - www.drive.com.au". Drive.com.au. 18 May 2000. Archived from the original on 31 March 2019. Retrieved 19 September 2009.
- David Morley (18 May 2000). "Musso-Mercedes match was a rocky road". Fairfax Media. Archived from the original on 31 March 2019. Retrieved 21 March 2011.
- Jonathan Hawley (4 July 2004). "Old-fashioned values". Fairfax Media. Archived from the original on 31 March 2019. Retrieved 21 March 2011.
- Bruce Newton (10 May 2005). "SsangYong Chairman CM600S". Fairfax Media. Archived from the original on 31 March 2019. Retrieved 21 March 2011.
- Bruce Newton (31 May 2006). "SsangYong Kyron". Fairfax Media. Archived from the original on 24 February 2015. Retrieved 21 March 2011.
- Moffett, Sebastian (7 April 2010). "Daimler, Nissan, Renault Set Small-Car Cooperation". The Wall Street Journal. Archived from the original on 22 June 2015. Retrieved 7 April 2010.
- "Mercedes engines for new Infiniti Q50". MSN Autos. 7 February 2013. Archived from the original on 22 October 2013. Retrieved 11 April 2013.
- "Mercedes-Benz Citan (2013 – )". Honest John. 18 March 2013. Archived from the original on 26 April 2013. Retrieved 11 April 2013.
- "Daimler announces deal with RWE, 500 Berlin charging points, lithium Smart". Autoblog.com. Archived from the original on 9 April 2015. Retrieved 1 April 2015.
- KRAEMER, Susan (9 August 2009). "Smart EV Tries Tesla Batteries in Next U.K.Trial". Gas 2. Archived from the original on 22 October 2013. Retrieved 11 April 2013.
- Davis, Joshua (27 September 2010). "How Elon Musk Turned Tesla into the Car Company of the Future". Wired. Archived from the original on 24 June 2016. Retrieved 10 October 2016.
- SQUATRIGLIA, Chuck (13 January 2009). "Tesla Motors Joins Daimler on a Smart EV". Wired. Archived from the original on 1 April 2013. Retrieved 11 April 2013.
- Baker, David R. (31 May 2016). "Elon Musk: Tesla was founded on 2 false ideas, and survived anyway". San Francisco Chronicle. Archived from the original on 14 August 2016. Retrieved 10 August 2016.
- "BYD and Daimler in EV Joint Venture". ChinaAutoWeb.com. Archived from the original on 22 July 2011. Retrieved 26 July 2010.
- Kristen Hall-Geisler (28 April 2016). "Mercedes home batteries are a potential rival for Tesla's Powerwall". TechCrunch. AOL. Archived from the original on 29 April 2016. Retrieved 30 April 2016.
- "Daimler announces a €500 million investment in a new battery factory in Germany". Electrek.co. 1 March 2016. Archived from the original on 21 October 2017. Retrieved 21 October 2017.
- "Daimler to rein in investments after EVs prompt surge". Autonews.com. 12 October 2016. Archived from the original on 31 August 2018. Retrieved 21 October 2017.
- "Daimler unveils its own new battery Gigafactory for electric vehicles". Electrek. 22 May 2017. Archived from the original on 28 May 2017. Retrieved 22 May 2017.
- Kedem, Kfir (5 May 2020). "Mercedes-Benz' New 100% Recyclable Battery". Automotive Trendy. Automotive Trendy. Archived from the original on 29 July 2020. Retrieved 30 May 2020.
- Ingram, Antony (28 January 2013). "Daimler, Ford, Nissan Agree To Share Hydrogen Fuel-Cell Costs For 2017 Or Later". The Washington Post. Archived from the original on 19 April 2013. Retrieved 11 April 2013.
- "Ford, Renault-Nissan and Daimler agree fuel cell deal". BBC News. 28 January 2013. Archived from the original on 4 April 2013. Retrieved 11 April 2013.
- "Newsroom | Daimler > Sustainability". Daimler. Archived from the original on 1 April 2009. Retrieved 1 May 2009.
- "PRESS RELEASE". www.mitsubishi-fuso.com. Retrieved 2 May 2021.
- "Archer Daniels Midland Company, Bayer CropScience and Daimler to Cooperate in Jatropha Biodiesel Project". DaimlerChrysler. Archived from the original on 23 March 2009.
- Straw, Edd (16 November 2009). "Mercedes takes over Brawn". Autosport. Archived from the original on 19 November 2009. Retrieved 16 November 2009.
- "McLaren buy back 40% stake of company from Mercedes". The Guardian. 18 March 2010. Archived from the original on 29 November 2014. Retrieved 14 July 2014.
- Benson, Andrew (19 May 2013). "Formula 1: Honda to return in 2015 as McLaren engine supplier". BBC Sport. Archived from the original on 15 July 2014. Retrieved 14 July 2014.
- Noble, Jonathan (28 February 2011). "Daimler completes team takeover". Autosport. Haymarket Publications. Archived from the original on 3 March 2011. Retrieved 28 February 2011.
- Kassem, Mahmoud (19 November 2012). "Aabar Sells Stake in Mercedes Formula One Team to Daimler". Bloomberg News. Archived from the original on 15 July 2014. Retrieved 14 July 2014.
- Elizalde, Pablo (28 March 2013). "Force India to run F1 Mercedes engines from 2014 onwards". Autosport. Archived from the original on 10 October 2014. Retrieved 14 July 2014.
- Straw, Edd (30 May 2013). "Williams to use Mercedes engines from 2014 Formula 1 season". Autosport. Archived from the original on 2 May 2014. Retrieved 14 July 2014.
- Cite error: The named reference
Essenwas invoked but never defined (see the help page).
- Jeremy Pelofsky (1 April 2010). "U.S. judge OKs settlement in Daimler bribery case". Reuters. Archived from the original on 6 April 2010. Retrieved 3 April 2010.
- Fuhrmans, Vanessa (24 March 2010). "Daimler Agrees to Pay $185 Million to Settle U.S. Bribery Investigation". The Wall Street Journal. Archived from the original on 17 October 2015. Retrieved 3 April 2010.
- Matthias Brüggmann: Der bizarrste Diktator der Welt ist tot. Handelsblatt, 21 December 2006
- "Gesellschaft für bedrohte Völker: Ruhnama – Im Schatten des Heiligen Buches. Die Menschenrechtslage in Turkmenistan" (PDF). Archived from the original (PDF) on 5 April 2012. Retrieved 5 May 2012.
- Julia Kollewe (24 March 2010). "Daimler 'agrees $185m fine' to settle US corruption investigation". The Guardian. London. Retrieved 3 April 2010.
- "Daimler's Settlement in Bribery Case Is Approved". The New York Times. Reuters. 24 March 2010. Archived from the original on 5 January 2016. Retrieved 3 April 2010.
- "UPDATE: US Judge Approves Settlement in Daimler Bribery Case". FOXBusiness.com. 1 October 2006. Archived from the original on 24 February 2014. Retrieved 24 February 2014.
- "AG Reaches Settlement with U.S. Securities and Exchange Commission (SEC) and U.S. Department of Justice (DOJ)". Daimler. 1 April 2010. Retrieved 27 September 2010.[permanent dead link]
- Shepardson, David (15 September 2020). "Daimler to pay $2.2 billion in diesel emissions cheating settlements". Reuters. Archived from the original on 16 September 2020. Retrieved 16 September 2020.
|Wikimedia Commons has media related to Daimler AG.|