Daimler to spin off trucks, change name to Mercedes-Benz

FRANKFURT, Germany (AP) — German automaker Daimler plans to split into two independent companies by spinning off its truck and bus division. The Stuttgart-headquartered company said Wednesday that a significant majority stake in the truck business would be distributed to current shareholders, and that Daimler would “at the appropriate time” be renamed Mercedes-Benz, the brand name under which it sells luxury cars. The goal is to make both independent companies more nimble so they can move ahead faster with new technology such as zero-emission vehicles and software, two trends that are disrupting the industry.  The company says it makes sense because the businesses of making luxury cars and heavy trucks and buses have different needs.