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Daimler AG reported modestly higher net income and a dip in revenue in the third quarter as truck sales rose, but sales of Mercedes-Benz vehicles plunged.

Daimler AG’s truck unit plans to ring in life as an independent company by delivering on savings targets and disclosing regional earnings in a bid to put to bed criticism it’s lagging the returns of rivals.

Daimler AG shareholders backed a plan to spin off the sprawling truck division from the Mercedes-Benz luxury car operations in a watershed decision to boost the valuation of both companies.

BERLIN — German automaker Daimler on Sept. 3 dismissed a “cease and desist” demand from two environmental groups to commit to ending the sale of combustion engine vehicles by 2030.

Daimler AG reported higher earnings and revenue as it sold 736,385 passenger cars and commercial vehicles in the second quarter, up 36% compared with 541,833 a year earlier. Truck sales alone jumped by an even higher percentage.

Daimler AG posted far higher earnings than analysts expected by joining peers in commanding better pricing for vehicles in the midst of the global semiconductor shortage.

Daimler Truck reported it is on schedule to be listed as a public company on the Frankfurt Stock Exchange by the end of this year, and remains committed to replacing internal combustion engines globally with battery-electric and fuel cell electric powertrains and related software.

FRANKFURT, Germany — Germany’s Daimler Truck AG and Sweden’s Volvo Group say they plan to jointly manufacture hydrogen fuel cells for trucks in Europe starting in 2025 and called on European Union policymakers to boost incentives for climate-neutral technologies.

Daimler Truck AG announced effective July 1 Andreas Gorbach will lead its new Truck Technology Group.

Daimler AG reported significantly better first-quarter earnings than analysts expected, driven by strong demand for Mercedes-Benz cars, particularly in China.