By Kim Richters

 

Daimler Truck AG on Thursday unveiled more details about its spinoff, saying it plans to list on the Frankfurt stock exchange on Dec 10.

At its capital market day, Daimler's commercial-vehicles operations also backed its target for adjusted return on sales for the industrial business of more than 10% by 2025 if market conditions are strong. For this year, Daimler Truck targets a margin of 6%-8% and 7%-9% for 2022.

Fixed costs should be down 15% by 2023 compared with 2019, the company said.

In October, Daimler shareholders approved the plans to spin off the trucks-and-buses operations from Daimler AG. The remaining company, focused on cars and vans in the luxury and premium segment, will then be named Mercedes-Benz Group AG next year.

 

Write to Kim Richters at kim.richters@wsj.com

 

(END) Dow Jones Newswires

November 11, 2021 08:41 ET (13:41 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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