German carmaker Daimler AG’s (OTC:DDAIF) strategic partnerships to grow its commercial vehicle business and establish itself as a strong fuel cell producer have raised investors’ hopes for its stock’s performance. Furthermore, now that the company is accelerating its shift to electric mobility to meet its “Electric First” carbon neutrality goal, we think the stock should attract even more investor attention.Based in Stuttgart, Germany, Daimler AG (DE:DAIGn) (DDAIF) is known for its world leading vehicle brands, which include Mercedes-Benz Cars & Vans, Freightliner, and Western Star. A noticeable uptick in sales of Mercedes-Benz vans in the EU30 region in the last reported quarter, coupled with its strategic joint venture with the Volvo Group to become leading fuel-cell producers, has helped the stock deliver impressive returns this year.
Shares of DDAIF have gained 22.1% year-to-date versus the First Trust NASDAQ Global Auto Index Fund’s (CARZ) 16% returns.
Also, the stock has gained 109.3% over the past year and 23.4% over the past six months. As the company focuses on a sustainable business strategy to expand its electric vehicle portfolio and deliver a CO2-neutral fleet of new cars, it is well positioned to capitalize on the EV industry tailwinds.