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Daimler enjoyed a solid 2020 thanks to demand in China and a strong premium car market that boosted its Mercedes brand. Annual operating profit would have even grown had it not been for a poor year in its commercial truck business. Chief executive Ola Källenius has since sought to protect Mercedes by breaking the company up, with its trucks business set to float as a separate entity by the end of 2021. After the flop of the Mercedes EQC battery-powered sport utility vehicle, the carmaker is now hoping to rebuild its reputation for innovation with the EQS, its first purpose-built battery electric vehicle (BEV). As early as 2030, the company wants more than half the cars it sells to be zero-emission vehicles or plug-in hybrids.
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