FRANKFURT, Germany—Shareholders in Daimler AG, maker of Mercedes-Benz luxury cars, on Friday approved the spinoff of the company’s truck division, a move intended to let the world’s largest maker of trucks react faster to change and focus on the new low-emission technologies transforming the automotive industry. The voting at an online shareholder meeting also means that Stuttgart-based Daimler will rename itself as Mercedes-Benz Group AG as of Feb. 1, 2022. Daimler CEO Ola Kallenius said that “by unlocking the full potential of both companies, we are establishing two undisputed innovation leaders who will set the pace in the transformation of their industries.” One reason for the spinoff is that the luxury cars and trucks are pursuing different technological approaches to developing zero local emission vehicles, with Mercedes-Benz focusing on battery-powered cars while the truck business is developing hydrogen-powered vehicles for long-haul transport. The move is intended to let the separate …
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