Investors start to question Daimler Truck’s anti-EV stance

Daimler Truck is facing growing scrutiny from activist investors over its apparent resistance to the electric vehicle (EV) transition, particularly in the US market. At its recent annual general meeting, the Association of Ethical Shareholders Germany challenged the company’s lobbying efforts against climate regulations, arguing that such actions threaten Daimler’s competitiveness and the broader shift towards electrification. Despite the rise of competitors like Tesla and Chinese EV manufacturers, Daimler executives downplayed the threat posed by these newcomers, offering evasive responses that failed to address concerns about the company’s strategic direction. Financial data underscores the urgency of the situation for Daimler Truck. The company reported a 34% drop in profits and a 26% decline in North American sales for 2025, while its market share in the US electric truck segment remains significantly behind Tesla’s. The Tesla Semi has rapidly gained traction, securing 90% of California’s Class 8 tractor voucher applications for early 2025, a stark reversal from the previous year when legacy manufacturers dominated the funding. This shift highlights Tesla’s growing dominance and Daimler’s struggle to maintain its foothold in the evolving market. Investors questioned Daimler’s aggressive tactics to slow regulatory progress, including lawsuits against California’s truck emissions standards and support for repealing the EPA’s Endangerment Finding, a key policy underpinning US air pollution control. These actions have drawn sharp criticism from environmental groups and industry experts, who describe Daimler’s stance as contradictory and strategically incoherent. Critics argue that undermining regulations while attempting to compete in the electric truck market jeopardises the company’s long-term viability and risks ceding ground to more forward-thinking competitors. The backlash reflects broader concerns about Daimler’s commitment to sustainability and innovation. Industry voices warn that the company’s focus on preserving its diesel dominance undermines its ability to lead in the electric future, especially as Chinese manufacturers enter the European market. Former executives and analysts describe Daimler’s approach as outdated and self-defeating, suggesting that its resistance to regulatory change and underinvestment in EV technology could result in significant market losses. The company’s strategy appears increasingly out of step with global trends, raising questions about its future role in the heavy-duty truck sector.