Hyperdrive
Daimler CEO Eyes Tech Valuations as It Rebrands to Mercedes
- Management overhaul bearing fruit with rising share price
- S-Class maker will change company name to Mercedes-Benz
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Daimler AG’s chief executive officer is pursuing a higher valuation for the luxury-car maker as the manufacturer shifts deeper into electric vehicles packed with digital gadgets.
Following the spinoff of Daimler’s truck unit in December, the carmaker will change its name to Mercedes-Benz on Feb. 1, to signal its segue to a nimble standalone unit tackling the industry’s transformation. Mercedes aims to have battery-powered models in all its segments this year to rival Tesla Inc.