Volkswagen is creating an integrated commercial vehicles group, thereby putting in place a structured framework for business with mid-sized and heavy trucks and buses. Truck & Bus GmbH is to become the new Volkswagen Group holding for the MAN and Scania commercial vehicle brands which encompasses a range of natural gas vehicle (NGV) models.
To this end, the shares in Scania AB held by Volkswagen AG will be transferred to Truck & Bus GmbH. The wholly-owned Volkswagen subsidiary already holds 75.28 percent of the voting rights in MAN SE.
Truck & Bus GmbH will establish processes specific to the commercial vehicles business, thus leveraging the full synergy potential between the brands. The company will be led by Andreas Renschler, member of the Board of Management of Volkswagen Aktiengesellschaft.
The realization of the commercial vehicles holding is an important milestone on the way to becoming a global champion in the commercial vehicles industry. “Our goal is to take the commercial vehicles holding to the top of our industry in terms of profitability, technologies and, above all, customer satisfaction. Bringing together our commercial vehicle brands under one roof means we can focus more strongly on the needs of the truck and bus business and can therefore accelerate the decision-making process”, Andreas Renschler said. “In so doing, the MAN and Scania brands retain their independence, in line with Volkswagen’s basic principle.”
Truck & Bus GmbH will steer and coordinate cooperation among the three commercial vehicle companies MAN Truck & Bus AG, MAN Latin America and Scania AB.
As a manufacturer of light commercial vehicles, Volkswagen Commercial Vehicles will also form part of the integrated commercial vehicles group and will report to Andreas Renschler; furthermore, the brand will continue to maintain close ties with the Volkswagen Passenger Cars brand where the synergies mainly lie.
(Source: Volkswagen AG)