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Daimler AG

Daimler AG extract from Britannica Online.

German automotive manufacturer. Its roots are in the auto companies founded by Gottlieb Daimler and Karl Benz, which merged in 1926. The Mercedes-Benz luxury car, first produced by Daimler in 1901, is the basis of the company's financial success. In 1998 Daimler-Benz merged with U.S. automaker Chrysler Corp. to form DaimlerChrysler AG; the new firm manufactured passenger cars, trucks, and commercial vehicles under brands such as Mercedes, Dodge, Chrysler, and Jeep. In 2007 DaimlerChrysler sold a controlling interest in its Chrysler subsidiary to a U.S. private equity firm.

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