Daimler AG

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Daimler AG (German pronunciation: [ˈdaɪmlɐ aːˈɡeː]; formerly DaimlerChrysler; FWB: DAI) is a German car corporation. 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[2]), and Japanese truck maker Mitsubishi Fuso Truck and Bus Corporation.

DaimlerChrysler was founded in 1998 when Mercedes-Benz manufacturer Daimler-Benz (1926–1998) of Stuttgart, Germany merged with the US-based Chrysler Corporation. 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.[3] 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.[4] The US 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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