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Daimler AG announced its board has approved a restructuring, first discussed in 2017, that would create three independent units under Daimler’s umbrella as a holding company after the most thorough due diligence in the company’s 130-year history.

German car and truck maker Daimler AG reported second-quarter net income and revenue fell amid a slight increase in overall vehicle sales, driven by larger gains at its Mercedes-Benz Vans and Daimler Trucks units.

Phillips Connect Technologies, a business of Phillips Industries, completed the purchase of Fortech Poland, a manufacturer and distributor of quality 24-volt electrical connectors and cables for commercial vehicles with a broad and established customer base primarily in the European Union market.

Daimler AG lowered estimates of its earning potential for 2018 as its car unit feels the effect of higher tariffs.

Daimler AG could split its truck unit and passenger-car business into separate companies, but it’s not a necessity and won’t happen unless stockholders want it to.

Daimler AG reported lower first-quarter net income though revenue rose amid strong truck sales and record demand at its Mercedes-Benz Cars division.

Daimler Trucks North America, Thomas Built Buses’ parent company, donated $1 million to support High Point University’s Congdon Hall and Congdon School of Health Sciences.

Chinese manufacturer Zhejiang Geely Holding Group Co. has acquired a stake worth about 7.3 billion euros ($9 billion) in Daimler AG to become the largest investor in the German automaker.

Mercedes-Benz, conducting the biggest test using drones to ship everyday items such as ground coffee and cellphones, said the mini-aircraft completed 100 drop-offs to strategically placed vans in Zurich with a perfect safety record, and more deliveries are planned for next year.

Daimler AG is stepping up plans to roll out electric-powered trucks as the world’s largest maker of commercial vehicles seeks to fend off newcomers like Tesla Inc. and Deutsche Post AG.