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As technology continues to transform the commercial truck market, Daimler’s Richard Howard sees a similar evolution underway on the financial services side of the industry.

FRANKFURT, Germany — German automaker Daimler reaped strong profits in the second quarter as demand for its Mercedes luxury cars continued to rebound from the depths of the pandemic, generating cash that the company can invest in its shift to electric vehicles.

Daimler AG and Nokia Oyj settled their dispute over the licensing of wireless technology patents in cars, ending a legal battle that has been watched beyond the auto industry and initially threatened sales of the iconic Mercedes brand in its home country.

Daimler Group reported higher net income and improved revenue in the first quarter as total vehicle sales climbed 13% compared with a year earlier.

The head of Daimler’s global truck operation believes the upcoming restructuring into a separate company positions it to accelerate growth in terms of both innovation and financial opportunity.

The Volvo Group and Daimler Truck AG announced they have signed a binding agreement covering a previously announced joint venture to develop, produce and commercialize fuel cell systems primarily for heavy-duty trucks as well as other applications.

Daimler Trucks announced hydrogen fuel cell heavy-duty trucks with a range of 621 miles (1,000 kilometers) on a single tank will be a key element of its global electrification strategy aligned with the goals of the Paris Climate Protection Convention.

Daimler AG will pay about $2.2 billion to settle U.S. diesel-emissions issues in the latest fallout from years of closer regulatory scrutiny on vehicle pollution.

BMW AG and Daimler AG’s self-driving car venture may attract more partners, with Fiat Chrysler Automobiles NV a front-runner to get on board at a time when the German automakers are working to select suppliers by the end of the year.

FreeNow, the ride-hailing venture owned by Daimler AG and BMW AG, expects to double revenue this year and next in a fresh challenge to Uber Inc. in Europe and Latin America.