New Delhi: Daimler Truck, a spin-off of the Daimler group, announced its listing on the Frankfurt Stock Exchange on Friday. The share of commercial vehicle maker Daimler Truck opened at EUR 28 ($ 31.62) per share when it debuted in the market.

“For 125 years, our truck and bus business was part of the Daimler group. Today we become an independent company listed on the stock exchange. My thanks go to our entire team for their unprecedented commitment over the past weeks and months. So in that regard, today is a finish line for us. We worked hard to make it happen. However, this December 10, 2021 is above all the exact opposite, namely a starting line. Because now things are really starting for Daimler Truck. looking to the future with courage and confidence. We are now looking forward to using the creative opportunities as an independent company with our large global team – for even more entrepreneurial success in the future ”, Martin Daum, Chairman of the Board of Directors of Daimler Truck Holding AG, said declared in the Frankfurt Stock Exchange Hall.

Daimler Tuck is one of the largest manufacturers of commercial vehicles in the world with more than 100,000 employees and 40 production sites.

Ola Källenius, Chairman of the Board of Directors of Daimler AG and Mercedes-Benz AG, said: “Today marks the start of a new era for us. At the same time, the listing of Daimler Truck turns one success story into two. The historic reorganization into two “pure-play” companies aims to unlock the full potential of both companies and create decisive added value for all parties. “

The truck maker is targeting double-digit profit margins across the company in 2025, up from the expected margin of 6% to 8% in 2021.

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The statement, issued a week before the Cars & Vans division of Daimler Truck & Buses split on December 10, said the luxury vehicle maker aims to be at the forefront of electric vehicle and software production after the announcement.