Hyperdrive
Daimler Truck Profit Push Keeps Shares Rolling Ahead of Spinoff
- Division targets double-digit operating margin by 2025
- Company adds or expands partnerships with CATL, Shell
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Daimler AG’s sprawling truck unit sketched out plans to turn its unrivaled global scale into better financial results ahead of its spinoff from Mercedes-Benz luxury cars later this year.
The division showcased its strategy for electrification, self-driving technology and run-of-the-mill operating improvements during a virtual event Thursday, setting a target to reach double-digit operating margin by 2025 if markets are supportive. Optimism that a split from Mercedes will help close a profitability gap with Volvo AB and Paccar Inc. sent the shares 3.7% higher in Frankfurt.