Daimler Truck Holding AG - Company Profile
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Business Description
Daimler Truck Holding AG (Daimler Truck) manufactures and distributes new and used commercial vehicles such as light, medium, and heavy-duty trucks, specialized vehicles, city buses, intercity buses, coaches, and bus chassis. It also provides aftersales services and connectivity solutions, financing, leasing, fleet management, insurance, and mobility services. The company markets its offerings under the Freightliner, Mercedes-Benz, Western Star, FUSO, BharatBenz, Thomas Built Buses and Setra brands. It has more than 42 production facilities in Brazil, Germany, France, India, Japan, Mexico, Turkey, and the US, among others. In FY2023, the company produced 526,154 units of vehicles, sold 526,053 units of vehicles, and had 426,910 units of incoming orders.
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R&D Overview
The company’s research and development efforts focus on developing solutions for vehicles to achieve zero emissions, automated driving, and development of the existing portfolio. Daimler Truck also focuses on electric vehicles and digital services. It has research and development centers in North America, Japan, India, and Germany equipped with hi-tech software tools and labs. The R&D hubs focus on development activities related to trucks and buses, which include vehicle engineering, powertrain engineering, fuel efficiency, and software development for electronic control units. These centers also work on subjects such as connectivity, cyber security, big data, advanced analytics, system integration, electrification, and IT programming using complex engineering tools and methods. In FY2023, the major focus of the R&D division was on zero-emission vehicles and automated driving. In this regard, the company made investments in fuel efficiency and optimizing the existing product portfolio. As of December 2023, the company spent EUR1,965 million on research and development, which as a percentage of revenue, stood at 3.5% and grew 10.1% YoY. As per segment categories, the company spent EU663 million on the R&D activities of the Trucks North America segment; EUR801 million on the R&D activities of Mercedes-Benz; EUR179 million on the R&D activities of Trucks Asia segment; and EUR172 million on R&D activities of Daimler Buses segment.
Business Segments
Overview
It manufactures and distributes buses and chassis with permissible gross weights exceeding eight tons. The product range of Daimler Buses includes coaches, intercity buses, city buses, and bus chassis. The segment also offers aftersales service and spare parts for new and used vehicles. It also offers a specialization in designing and establishing e-infrastructure for buses. In this segment, as part of the company strategy, it is implementing the process of electrification of its vehicles across all vehicle segments.
Performance
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Overview
It develops, produces, and distributes trucks under the Mercedes-Benz brand in Europe, the Middle East, Africa, and Latin America. The segment also manages the sales of FUSO trucks in Europe and Latin America; manufactures powertrains across several production sites in Germany and Brazil; offers customers services such as maintenance, repairs, spare parts, digital services, and fleet management; and sells used commercial vehicles through its TruckStore locations. Products range from light, medium, and heavy-duty trucks, including special vehicles. In this segment, as a part of its strategy, the company is accelerating its decarbonization of transport vehicles; developing the fuel cell truck GenH2 Truck; and working with various partners to advance the development of charging and refueling infrastructure for battery-electric and hydrogen-powered vehicles in Europe.
Performance
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Overview
It develops, manufactures, and sells trucks and buses in Asia region under the brands, FUSO, BharatBenz, Mercedes-Benz, Auman, and Foton; distributes Mercedes-Benz trucks and buses in numerous Asian markets; manufactures industrial engines; and sells locally manufactured tractor units under the Mercedes-Benz brand for the Chinese market. In this segment, as a part of the company strategy, it is focusing on CO2 neutralization; expansion of the markets in China and India; and export of electric trucks to the US.
Performance
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Overview
It manufactures and markets commercial vehicles and chassis under the Freightliner, Thomas Built Buses, and Western Star brands. It also supplies trucks for off-road applications, long-haul vehicles, and school buses. The segment is working on various strategies such as collaborating with various partners to promote the expansion of charging and refueling infrastructure for battery-electric and hydrogen-powered commercial vehicles in the US; and also working with technology partners in the field of autonomous driving to bring a self-driving Freightliner Cascadia series trucks.
Performance
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Overview
It offers the sale of truck and bus brands with tailored financial services, which include financing packages, insurance, rental, and fleet management solutions as well as integrated service offerings for zero-emission vehicles and the necessary infrastructure. In this segment, a part of the company's strategy it plans to increase the share of core business of leasing and financing to around 30% of all trucks and buses sold by Daimler Truck in the medium term and started a project to open up new markets in Eastern Europe.
Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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Performance
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