Daimler AG’s share price down, introduces self-driving truck

Daimler AG, the leader in the commercial-vehicle industry, is planning to launch self-driving trucks that can steer, brake and accelerate independently as early as 2025. The decision is part of the companys efforts to get ahead of its rivals by presenting innovative solutions.

“We aim to be the No. 1 manufacturer in this market of the future, which we believe will offer solid revenue and earnings potential,” Wolfgang Bernhard, the chief of the Daimler Trucks unit said, cited by Bloomberg. “We don’t only talk about innovation, we implement it to underline our leadership position.”

The driving demonstration, at which the prototype model was revealed and tested, was carried out on the A14 highway near Magdeburg in Germany. According to the companys statement, the truck can accelerate up to 85 kilometers per hour (about 53 miles per hour). The trucks, however, are not yet fully autonomous and require a driver be present.

As reported by the Financial Times, Mr. Bernhard explained: “At this point in time we don’t see society prepared for [completely driverless trucks] … and we don’t see the technology at this point. There is also no legal environment for that kind of scenario … Our future truck will have a driver.”

Daimler AG revealed that the self-driving technology has been adapted from some features that are already available on the new Mercedes-Benz S-Class luxury sedan launched by the company. Daimler AG also explained that it plans to be able to start mass production of its new-technology trucks by 2025, but Mr. Wolfgang Bernhard declined to comment on the future price saying that it is far too soon. The target markets of the companys new vehicles will primarily be Europe and the U.S.

Daimler AG lost 0.07% to trade at 70.39 euros per share by 12:35 GMT, marking a one year change of +43.42%. According to information published by the Financial Times, the 31 analysts offering 12-month price targets for Daimler AG have a median target of 76.00, with a high estimate of 86.00 and a low estimate of 60.00.