Benz Drops From Corporate Name
May. 08, 1998
FRANKFURT, Germany (AP) _ Under the German-U.S. auto merger to create DaimlerChrysler, the name Benz _ from the 19th century German car pioneer Karl Benz _ drops from corporate logos and into the history books.
But it's not yet time to say goodby to Benz altogether as the name will still be part of the official brand name of the Mercedes-Benz automobiles.
Karl Benz, credited with creating the first vehicle powered by an internal-combustion engine in 1885, founded his Benz motor company two years earlier in Mannheim.
The company merged with competitor Daimler in 1926 while both companies were struggling to stay afloat during the economic turmoil that followed World War I.
But when Daimler-Benz absorbs Chrysler, it will end a 115-year tradition of companies with the Benz family moniker.