Daimler Truck is gearing up for its inaugural listing on the Frankfurt Stock Exchange and says it will be divesting its conventional combustion engine technology as it goes “full speed” towards zero emissions. 

The spin-off of the truck and bus business and the listing of Daimler Truck Holding AG as an independent company was approved by a majority of Daimler AG shareholders in a virtual meeting last month.

Daimler Truck recently hosted a capital market day for investors and analysts as it promised to lift performance and profitability upon its December 10 listing. 

Chief technology officer Andreas Gorbach says the company will now focus on three pillars which includes reducing investments in combustion engine powertrains, targeting the majority of R&D spending on zero-emission vehicle technology by 2025 and advancing the brand’s software development. 

It will be partnering with Cummins for medium duty engines and is also seeking partnerships for heavy duty engines to share the required investments for emission regulations, the company says.

The company is focused on both battery electric vehicles (BEV) and hydrogen-based fuel cell electric vehicles (FCEV). 

It aims to establish a network of 150 hydrogen refuelling stations and 5000 heavy-duty hydrogen trucks by 2030. 

It has announced partnerships with Shell, BP and Total Energies which will see hydrogen infrastructure developed in the UK, France and other European countries. 

“We’re committed to achieving higher profitability and to going full speed to win the race to zero emissions,” Daimler Truck AG chief executive Martin Daum says. 

“We can’t wait to make our company even stronger. Ahead of the planned public listing we are ready for independence and for unlocking our full value potential,” he says.