Mercedes-Benz company; profile, history and net-worth

Mercedes-Benz Group AG, formerly Daimler AG (Daimler), is a Germany-based automotive engineering company. The Company engages in the development, production and distribution of cars and vans in Germany, and the management of the Daimler Group. The segments include Mercedes-Benz Cars, Mercedes-Benz Vans and Daimler Financial Services. The Mercedes-Benz Cars segment includes vehicles of the Mercedes-Benz brand, including the brands, Mercedes-AMG and Mercedes-Maybach, and small cars under the smart brand, as well as the Mercedes me brand. The Mercedes-Benz Vans sells vans under the brand name Mercedes-Benz and the Freightliner brand. The Daimler Mobility AG offers e.g. financing, leasing, car subscription and car rental, fleet management, digital services, as well as mobility services. The Daimler financial services also supports the sales of its automotive brands worldwide.

Germany, Mercedes-Benz Group makes premium and luxury passenger vehicles and commercial vans. Brands include Mercedes-Benz, AMG, and Maybach. Mercedes-Benz Mobility provides the company’s dealers and its customers with vehicle financing as well as mobility services in ride hailing, car sharing, and charging. Mercedes owns 9.74% of Aston Martin and 9.55% of Beijing Automotive Group. Through Tenaciou3 Prospect Investment, Li Shufu, chair of Chinese automaker Geely, owns 9.69% of Mercedes-Benz. Other major shareholders include Beijing Automotive Group at 9.98% and Kuwait Investment Authority at 4.9% (6.8% before the sale of a 1.9% stake in March 2023).

HISTORY OF MERCEDES BENZ

The Mercedes Benz AG brand has been around for more than 130 years. It is one of the most popular names in the luxury vehicles industry, and many people have a lot of respect for it. The brand has focused on innovation a lot – this is how they were able to create outstanding vehicles and improve the lives of their customers.

It all started in 1834. That’s when Gottlieb Daimler was born on March 17, in Schorndorf, Germany. He trained as a gunsmith and later, he went to the Stuttgart Polytechnic School. He went to France and England after school, and he worked hard to complete several technical activities.

Later, he went back to Germany and worked as a draftsman. He managed to become a workshop inspector in 1863 in a Reutlingen machine factory.

Gottlieb Daimler worked at Deutz Gasmotorenfabik as a technical director, and during this time, he learned about the four-stroke technology. As a result, he decided to open his own development workshop. His plan was to work on a petrol-powered four-stroke engine.

He met Wilhelm Maybach while working for the machine factory in Reutlingen and they worked together to develop an internal combustion engine. Nowadays, this engine is known as the “Grandfather Clock”.

In November of 1890, Gottlieb established Daimler Motoren Gesellschaft together with Wilhelm Lorenz and Max Duttenhofer in order to develop the engines. Gottlieb was more interested in vehicle production, though, while the new partners were interested in stationary engines, so there was a conflict. Maybach then resigned in 1891, but he and Gottlieb were still friends and kept working on producing vehicles.

Due to all the problems within DMG, Gottlieb was excluded and was no longer a shareholder, although both he and Maybach went back in 1895. Afterwards, the company’s Phoenix engine gained worldwide popularity. He also got a Technical Board position and was a Supervisory Board Inspector General.

The Daimler Motoren Gesellschaft company also built the first truck in the world for the British Motor  syndicate.

10 years after Daimler’s birth, in 1844, Karl Benz was born, and he would be the one creating the first internal combustion engine, which could be found in the Benz Patent motor car. He was born in Karlsruhe, Germany on November 25. He wasn’t part of the wealthiest family, and his father passed away only two years after he was born.

Even though they were not rich, Benz’s mother still helped him go to grammar school. Later on, she supported him in going to mechanical engineering studies.

He loved motor cars, and he was always thinking of them even though he worked as a locksmith, designer, and workshop foreman.

Together with August Ritter, his mechanic, he established his first company in 1871, but Ritter decided to leave not long after. The workshop was only run by Karl Benz alone, and he was working hard on the gas-driven two-stroke engine. This would help him create an engine that would let a vehicle run without requiring horses. The first time the engine ran was on New Year’s Eve 1879.

In October 1882, Benz established Gasmotorenfabrik Mannheim or the Mannheim Gas Engine Factory. But because the other shareholders wanted to focus more on the stationary gas engines and not motor car engines, Benz left the company.

Karl Benz then founded the Benz & Cie. Rheinische Gasmotoren-Fabrik Mannheim with Friedrich Wilhelm Esslinger and Max Rose in 1883. The two-stroke System Benz engine was launched while he worked with this company.

The brand grew significantly, actually turning into the largest German engine manufacturer. Not only that, but at the end of the century, it became the leading automobile producer in the world. The Velocipede’s production led to the company’s economic breakthrough with automobiles. It was made between 1894 and 1901, and it is thought to have been the first automobile that was mass-produced. Almost 1,200 pieces were created.

PRODUCTIONS OF MERCEDES BENZ

Cars produced by Mercedes-Benz company include;

The current lineup of Mercedes-Benz  includes A-Class Limousine, mercedes-benz eqs,  AMG A 35, AMG A 45 S, AMG C43, AMG E 53 Cabriolet, AMG EQS, AMG GLA 35, AMG GLE 53, AMG GT 4 Door Coupe, AMG SL, C-Class, E-Class, EQB, EQE SUV, EQS, G-Class, GLA, GLB, GLC, GLE, GLS, Maybach S-Class and S-Class

NET-WORTH OF MERCEDES BENZ

How much a company is worth is typically represented by its market capitalization, or the current stock price multiplied by the number of shares outstanding. Mercedes-Benz Group AG net worth as of November 08, 2023 is $65.75B.