Here's how it works. Back in 1960, premium carmaker Jaguar acquired rights to the Daimler name when it bought the British offshoot set up by a German automotive pioneer back in 1896. That pioneers name was Gottfried Daimler.
|2006 Daimler Super Eight|
The resulting company grew to supply Britain's royal family with high-luxury vehicles, and the Daimler badge still appears on some high-end versions of Jaguar cars. Jaguar is a part of Ford's premium car brands that are up for sale- in a move to free up some cash and create liquidity for the troubled automaker.
According to automotive news, a Ford spokesman said that DaimlerChrysler "will now be allowed to use the name alone or in combination with other words as the title of a trading company, a trade name or a corporate name. The extended usage agreement does not, however, affect either company's existing right to use the Daimler name for a product."
It's yet unknown how much was paid to Ford for the Daimler rights. DaimlerChryler shareholders meet on Oct 4th to decide on changing the company name.