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Daimler AG

Daimler AG
Company nameDaimler AG
Company typeAktiengesellschaft
IndustryAutomotive industry
HeadquartersStuttgart, Germany
Area servedWorldwide
Key peopleDieter Zetsche (CEO and Chairman of the management board), Manfred Bischoff (Chairman of the supervisory board)
ProductsAutomobiles, commercial vehicles (list of brands...)
Revenue-97.76 billion (2010)
Operating income-7.274 billion (2010)
Net income-4.498 billion (2010)
Total assets-135.83 billion (end 2010)
Total equity-37.95 billion (end 2010)
Employees260,100 (end 2010)

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Daimler AG (-deˈdaɪmlɐ aːˈɡeː; formerly DaimlerChrysler) is a German car corporation. By unit sales, it is the thirteenth-largest car manufacturer and second-largest truck manufacturer in the world. In addition to automobiles, Daimler manufactures buses and provides financial services through its Daimler Financial Services arm. The company also owns major stakes in aerospace group EADS, high-technology and parent company of the Vodafone McLaren Mercedes racing team McLaren Group (which currently is in the process of becoming a fully independent stand-alone corporate entity), and Japanese truck maker Mitsubishi Fuso Truck and Bus Corporation.

DaimlerChrysler was founded (1998 2007) when Mercedes-Benz manufacturer Daimler-Benz (1926 1998) of Stuttgart, Germany merged with the U.S.-based Chrysler Corporation in 1998. The deal created a new entity, DaimlerChrysler. However, the buyout failed to produce the trans-Atlantic automotive powerhouse dealmakers had hoped for, and DaimlerChrysler announced on May 14, 2007 that it would sell Chrysler to Cerberus Capital Management of New York, a private equity firm that specializes in restructuring troubled companies. On October 4, 2007 a DaimlerChrysler Extraordinary Shareholders' Meeting approved the renaming of the company. From October 5, 2007, the company has been titled Daimler AG. The U.S. company adopted the name Chrysler LLC when the sale completed on August 3, 2007.

Daimler produces cars and trucks under the brands of Mercedes-Benz, Maybach, Smart, Freightliner and many others.

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