☰
Germany-based leading automotive manufacturer Daimler AG is reportedly working on a legal framework for how its luxury vehicles company Mercedes-Benz and its relevant trademarks will be used after releasing a new truck unit this year.
The company’s landmark breakup plan will primarily involve the USD 49 billion Mercedes-Benz brand, cited sources aware of the development.
It is worth mentioning that Mercedes is the world’s eighth most valuable entity, ahead of its German rival BMW Group and just behind Japanese automotive giant Toyota Corp. The ranking is currently led by American tech giants such as Apple Inc., Amazon.com Inc., and Microsoft Corp. respectively.
According to seasoned experts, it is important to establish and define respective Mercedes brand rights in a clear way with the impending Daimler truck spinoff.
Daimler has long argued that it was compelled to keep the German luxury automotive brand under one roof when pressured by investors to separate the entity from the truck-making business. The growing technological divide between commercial-vehicles and passenger cars has reportedly forced the management to rethink this.
Ola Kallenius, CEO at Daimler AG, is planning to change the company’s name to Mercedes-Benz. He claimed that it should be clear who can use the brand name.
The company intends to address these trademark rights issues ahead of its plans to distribute most of the Daimler Truck unit to shareholders. Moreover, Mercedes-Benz’s legacy could help in strengthening the investor interest among the two manufacturers, which are expected to be featured in Germany’s DAX Index.
Managing brands and trademarks can be a complicated task. In fact, Daimler had to pay USD 20 million to American multinational automotive company Ford Motor Co. in the year 2007 to purchase the rights to its name when it released the DaimlerChrysler after the sale of Chrysler LLC.
The name had been used in some Jaguar models; a brand Ford Motors-owned back in 2007.
Source Credits –
With a commendable experience of content creation under his belt, Pankaj Singh, a qualified Post Graduate in Management, boasts of having worked as a freelance writer and an insurance underwriter. Additionally, Pankaj has also enriched his qualification portfolio with Read more...
The American tech giant Oracle has reportedly expressed its readiness to assist Canadian banks with their open banking requirements, offering necessary tools as needed once the country decides to make this service available. Sonny Singh, the Execu...
GreenSky was bought by Goldman Sachs in 2021 for USD 2.24 billion stock deal. Goldman Sachs quotes GreenSky as ‘good business’. Goldman cites itself not best suited to lead the fintech in long run . In the recent turn of event...
Electric car manufacturer, Tesla, has reportedly been ordered by a federal jury to pay more than USD 3.2 million in damages to a former worker, following his win in a racial harassment suit. Owen Diaz, who worked as a lift operator at the firm’...
© 2024 business-newsupdate.com. All Rights Reserved.