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Daimler Truck shares climb on market debut

Daimler Truck made its Frankfurt market debut Friday (December 10) and saw its shares climb.It comes after the vehicle maker’s long-awaited spin-off from Daimler AG.The split was announced in February, and pitched as a chance to unlock the true value of Daimler Truck.Daimler itself will soon be renamed after its best-known brand, Mercedes-Benz. Ola Kallenius is CEO of the carmaker: “Ultimately, I think it’s a good idea. Especially in the German market we have seen a lot of positive spin-off examples such as at Bayer and Siemens. It went really well both for the companies and the investors. Everyone profited and I believe that’s what will happen with Daimler, too.”Daimler Truck is aiming for double-digit profit margins across the business in 2025, and particularly keen to improve European sales.It is now the world’s largest commercial vehicle maker by revenue, with North America its strongest market.But the firm’s profit margins are smaller than some key rivals like Volvo Trucks.Going forward, Daimler Truck wants to boost sales of zero-emission vehicles to 60% of all sales by 2030.

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