German carmaker Daimler officially changes its name to Mercedes-Benz

German carmaker Daimler will officially say goodbye to its company name on Tuesday and henceforth be known as the Mercedes-Benz Group.

Chairman of the Board of Management Ola Källenius is thereby concluding a far-reaching corporate restructuring that began at the end of last year with the spin-off of the truck business from Daimler Truck.

Since then there have been two separate companies, both listed on the stock exchange. Mercedes-Benz is now concentrating on the car and van business.

The traditional brand with the star should be used as a company name to make the manufacturer more attractive, Källenius said last week.

"We see that the attention for Mercedes has increased in the last 12 to 18 months," the chief executive said.

A luxury brand

His declared goal is to establish Mercedes-Benz as a luxury brand.

The name change is to be entered in the commercial register on Tuesday.

Last year, the Mercedes-Benz brand was valued at just under $51 billion by the US consulting firm Interbrand.

Only Japanese competitor Toyota did better among international carmakers. The ranking is topped by US companies Apple and Amazon.