Daimler AG which is generally known as Daimler – Benz AG, DaimlerChrysler AG is a German car corporation and the world’s thirteenth largest car maker as well as the largest truck maker in the world. Daimler AG manufactures trucks and offers financial via its Daimler financial Services arm, in addition to manufacturing automobiles. Daimler AG also has major stakes in aerospace group EADS, high technology and parent company of the Vodafone McLaren Mercedes racing tem McLaren Group as well as Japanese truck maker Mitsubishi Fuso Truck and Bus Corporation.

History

On May 1, 1924 an agreement document of interest was signed between Benz and CIE and Daimler Motoren Gesellschaft as well as Wilhelm Maybach. The two companies continued to make spate internal combustion engine brands and automobile until a formal merger on June 28, 1926. The merger which resulted in Daimler Benz AG decided that the brand name Mercedes Benz would be used on the automobiles by all the factories.

In 1998 Mercedes Benz’s manufacturer Daimler Benz of Stuttgart, Germany made a deal and merged with Chrysler Corporation (based in the United States) to form Daimler Chrysler. This was the merger that created Daimler Chrysler; however the deal failed to produce the tans – Atlantic automotive powerhouse dealmakers had wanted thus, DaimlerChrysler declared on the 14th of May 2007 that Chrysler would be sold to New York’s Cerberus Capital Management. Cerberus Capital Management is a private equity firm that specializes in streamlining companies that are facing difficulties. A DaimlerChrysler Extraordinary Shareholders’ Meeting decided on giving the company a new name on October 4, 2007. The new name took form the following day, October 5, 2007, which is Daimler AG.

Daimler produces trucks and cars using the brands of Maybach, Mercedes Benz, Smart and Freightliner as well as several others.